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Mortgages & endowments

Archives for March 2018

Valuation when. Remortgaging query
Hi there, I'm looking to switch to a new lender when my fixed rate mortgage comes to an end. Apologies if this is a daft question but I'm wondering whether I need to dress my spare room as a second bedroom to increase the value? I currently have it set up as an office, its a good size double bedroom. I wasn't sure whether…
Nationwide Payment Holiday
I’ve just lost my job and I have a mortgage with Nationwide. Does anyone know if they offer a payment holiday or how they could help at all?
Beware Santander
Friends just went for a mortgage with them because they offered around 7% more, the downside being it was a slightly higher rate than others. It could just be individual circumstances, or a way for them to grab more business, but when they received their offer, it was for the same amount other banks were offering. Puts you…
Deposit question for a home mover
Hello, I apologise, I am about to ask something incredibly basic here, but unfortunately maths is not my strong suit! I currently own a property and I'm looking to move later this year and just want to work out how much I will need to borrow for the move. So, I bought my current home for £112,500 with £22,500 deposit,…
Question for the contractors, self employed, ltd company etc
which mortgage provider accepted you did they give you a hard time? i am looking to do my own application but i dont wont to apply to one thats likely to turn me down i have tried using a few brokers and they have been as useful as a chocolate tea pot, insisting that i have 3 years worth of accounts which is not true as i…
late payment, how long to wait before mortgage application
i have a recent late payment on my electric bill which is over a months old would applying for a mortgage now be a bad idea? is there a certain amount of time i should wait that will improve my chances thanks
Not Sure Where To Start For A Mortgage
Feeling pretty confused about how (if at all) I could purchase a property to live in and would love any input from those more experienced to suggest a creative way I could obtain a mortgage given that my circumstances aren’t perfect right now. Here’s my current status 1. Just returned to uk recently after being an expat…
Mortgage free - would you buy again?
Mortgage free and considering going down the "let to buy" route of releasing equity on this place, letting it out (so rent covers mortgage and place looks after itself), then using the funds as a deposit to purchase a new property that will become my main residence. Have the option of then borrowing more funds, taking a…
Loan Completion Fee Interest
Hi, I have received a letter today from YBS saying that when my mortgage funds were released a Loan Completion Fee of £345 was added to the mortgage balance and I have been paying interest on it for the last 3 years 9 months. The letter says they cannot identify if I actually requested this fee to be added to the mortgage…
Proof of founds
Hello! I have made an offer for the house. My agency said that they need to wait to Tuesday as there are 4 offers in total and some of the People didn't send proof of founds. Of course, that was `best and final`. My question is why the estate agency waiting so long?
Seller Concerned
Hi, we wondered if anyone had experience or knowledge relating to a situation we find ourselves in... We accepted an offer on our house, and were about to conclude on Wednesday of last week. Last minute, it was delayed as the buyers hadn’t gotten their full mortgage...why that was last minute news is a mystery! Anyway, it…
Moving Home - Mortgage advice
Looking some advice if possible folks. We currently have a mortgage with Santander, a 2 year fixed at 1.99% which is due to elapse in November this year. Current mortgage left to pay is approx. 98k. We are now seriously considering moving house that has a value of approx. 230k, we would have 60k deposit so a LTV of just…
Can a bank revoke a mortgage if there are no late payments?
Dear Forum I know a bank can revoke its mortgage offer before or even after exchange. But when a bank gave one a mortgage, which has always been paid in time can they review it on whatever basis and revoke the mortgage, forcing one to sell their house? Or are there any regulations that prevent a bank from doing so (if…
Overdraft and mortgage
I have an overdraft facility of £1000 which has generally been overdrawn at the limit every month for years. My debt is cleared now so will be in credit always from now on. Can a credit search show this overdrawn amount for the last six years or are overdrafts not shown on credit files?
No current mortgage
Can anyone tell me how common it is for a mortgage lender to turn you down because you do not currently pay a mortgage? In Santanders credit scoring it takes into account your current mortgage situation and no current mortgage gives you a low score. It states that you can get a low credit score if you have no existing…
Mortgage offer & 4 month completion
Hi, (put this in wrong place before) We started our process only on the 10th of March and in that time we have already arrived at our full mortgage agreement with the bank. We actually did not expect things to move so quickly as our timeline was to move at the end of the school year in July as we are moving outside London…
Hard Credit Checks
Hi all, I just wanted to get some advice about the hard credit checks that come with Agreement in Principles. Me and my partner are both first time buyers, have good credit scores and are with Nationwide for our mortgage. We started in January, did an AIP for a property we got, however sale fell through after 6 weeks.…
Remortgages and combined income
Guys My credit rating is really bad but the wife's is excellent. We want to remortgage so thinking of doing so in wife's name only to improve our chances of success. My question is can we do a remortgage in my wife's name only but with both incomes taken in to account to demonstrate affordability? Thanks
HMO mortgage wet rot
Hi, I'm buying a property with an HMO mortgage and hoping to turn it into an HMO. It's got 6 bedrooms and everything is in good order apart from there are some timber and damp issues. There is a large hole in the floor in the living room where there is wet rot. I've done a timber and damp report and it shows that the rot…
MSE News: IT shutdown stops TSB offering new fixed mortgages to existing customers
TSB has stopped accepting new mortgage applications for fixed deals from existing customers for up to six weeks while it updates its IT systems, MoneySavingExpert.com can reveal...Read the full story: 'IT shutdown stops TSB offering new fixed mortgages to existing customers - leaving some stuck on pricey rates' Click reply…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Mortgages & endowments

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