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Annual interest charge. Suspiciously low?
Hi all, I've just received my annual mortgage statement and I'm astounded at the interest charge. It's so LOW!! Is this a mistake? Balance of £104,000 paying 2.44% interest. Just into year 3 of a 5 year fix. My interest charge for 2018 is/was £450. Last year it was £2,650 on a £114,000 balance and the year before £3,000 on…
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Mortgage Deed and Parking space
Hi My friend is remortgaging her BTL and Natwest have sent the Mortgage Deed document to sign, it obv contains the address but not the parking space. Should this be mentioned on the mortgage deed or just the leaseholder pack? thanks
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Clearing Help To Buy Equity Loan
Borrowed the 20% =£55K Am I OK to clear it in total by paying £5,500 each year for 10 years?...10% is the minimum payment right? Has it got to be a 10 or 20% payment each time?...or can it be say a 15% payment? and as long as the house isn't sold its just that £55K that needs paying....not 20% value of the house? Have I…
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Paying off Some of the Mortgage
Hello All My son is thinking of paying off some of his mortgage. Can you help please with the basic "How to choose whether to do so or not?.
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Help To Buy ISa + Cash ISA Same Year?
Hi , is it possible to contribute to a help to buy ISA and Cash isa in the same tax year? Natwest who holds my Help to buy ISA said it was possible but the person I phone did not sound too convincing and it seems to go against what I have read online. I currently hold a ISA with Coventry Building Soceity which pays 1.3%…
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Break the chain - offset mortgage?
Hello, I'm not quite ready to go ahead with moving house yet but I'd like to ask some opinions on a possible approach to moving house that could allow me to move chain-free. I've heard so many tales of woe with chains for housing sales that I'm interested to see if I can avoid it. Currently I live in a house that is owned…
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Chances of accepting
Hi.. I am just wondering what peoples thoughts were on chances of being accepted for a mortgage with the info below... Joint application, one first time buyer one not first time, house to sell and equity to be used as a deposit probably around 55k, person with house has good credit rating no previous issues, second…
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Government Help to Buy ISA — Solicitor problems
Hi all, Apologies if this has been covered in a previous thread but I couldn't find anything. I was hoping for advice on the below issue. My wife and I received keys to our first home at the end of November. Having had our deposit in a Help to Buy ISA, we followed the necessary guidelines on closing the account and passing…
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Applying for mortgage with recently paid off debt
I recently (a week ago) cleared my next account balance to £0 from £600 However, as it's so recent it's still showing on my credit file at £1400, which is what the balance stood at 5 weeks ago now. We have seen a house, and want to apply for a mortgage. Can my mortgage broker inform a lender the debt has been recently…
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should I stop overpaying the mortgage and save?
Hi all I've spent the weekend trying to sort out savings etc and in the process, I think I may have realised that I've been "doing it wrong" as regards the mortgage and just want to sense-check it as it seems so obvious I don't know why I haven't thought of it before. I've got 23 years to run on my mortgage. Fixed at…
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Current Accounts and Mortgage Application
I have two current accounts, one that my wages and most bills go into and another one where I pay my loan direct debits with and paypal. I tend to move a few hundred quid a month across to the current account that has my loans in. I am paying off one of my loans this week before applying for a mortgage and then moving my…
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Remortgaging and overpaying
This subject baffles me and I find it so hard to understand at some points. I have a NatWest mortgage which is fixed for two years. I have made 10% overpayments which has helped reduce the interest by around £40pm. I only make overpayments when I can, so sometimes it's little amounts a week, NatWest recalculate my monthly…
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Staff mortgage & BIK tax implications... HELP
Hi, I work for a high street bank and currently have a £75K mortgage in my sole name on a staff rate following the BOE baste rate, currently 0.5%. At the minute its all very simple and makes perfect sense for me to be on the staff rate. However, I'm looking to move and have put an offer on a house this weekend which has…
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Removiing a deed of trust
Hi, How would you go about removing a deed of trust from a property ? the equity in my brother's flat is protected by this- if the property is sold, the equity would come back to her. but If she decides to leave it all to him, what does sshe need to do ? thanks, Habib.
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Shortening term after 2 years
Hello, We are looking to get a mortgage over 35 years which is fixed for 2 years. After this 2 year period, would we be able to reduce the term to 25 years instead? Thanks in advance!
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Mortgage
Hi All I am looking to get a mortgage and was just wondering if i have £150 total coming out a month for a new bed and new Sofa at 0% interest would it make any difference to my application if i paid the total off £1500 before applying? or would it be better to have £1500 more in the deposit? Hope this makes sense Thank you
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Self-Employed First Time Buyer - Self Assessment??
Hi there! I'm not "planning" on buying for at least another year, giving me time to grow my deposit further, gain two years financial accounts and by which time my partner should be in a full-time stable job, however, with this financial year soon coming to a close and it being my first, I figured I should seek some advice…
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Kensignton Mortgages Lending Criteria
Hi All. Newbie here and first time poster. Wanted some advice if possible. Basically long story short, i was pretty wreck less in my younger years and ended up going into a DMP. This probably wasnt the best move. two of the accounts showed "6" late payment marker until i recently got my head around the accounts. In sept 17…
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Moving home with equity and debt
Hi all, due to issues with harrassment by our neighbours, we need to move and move quickly. We currently have a mortgage which is sitting at approx £91K and the house is worth approx £155-£160 (another neighbour with same house recently moved and got this). This means we have at the least £65K in equity. Unfortunately, we…
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First Time Buyer mortgage advice
Hello My son is looking at buying his first property He is looking for a 130k mortgage over 25 years this with a LTV of 90% and I have suggested that he looks at a fixed mortgage for either 3 or 5 years given the likely hood of mortgage rates He is looking at mortgages from Halifax and Nationwide currently , any advice…
