-
Equity release
I'm interested in equity release - no kids - house worth 550-600k mortgage outstanding 150k. Aged 51 currently - most schemes seem to have a minimum of 55yrs. I want to pack in work and go back to art school. I'd still have a little part-time teaching, so possibly £400 a month and I rent out two bedrooms which is enough to…
-
Mortgage running past retirement age
Has anyone complained that they were miss sold their mortgage, as it wasn't explained clearly to them that they would be retired before they'd have paid it off? Obviously I knew this at the time I took my mortgage out, but my mortgage lender has offered to review the information that they gave me (so I'm acting clueless)…
-
Proof of child benefit
Anybody out there experienced a request for child benefit letter? TSB are currently reviewing our application. I have submitted the part of the letter that has all the detail of payments to our broker, and TSB have seen our bank statement showing the transaction. Our broker has asked for the full document, but the Mrs is…
-
Mortgages for old & disabled people
Hi, I was just seeking some advice. My mother is in her 50's, is a long term (20+) council tenant on long term disability benefits. She's been in the house she raised us kids in for 23 years. My mom was an alcoholic for 10+ years and it really ruined her life, but she's been sober for 3 years now, and is turning her…
-
Change in situation / mortgage downsizing
Hi All, First time posting on here so apologies if this is in the wrong place. Basically the situation is that we have a property which we took a mortgage out based on my wife and I's salary. She has now gone back to uni and i am the sole earner. On top of this, our house value has increased dramatically to the point where…
-
Remortgage (release equity) or additional borrowing?
I'm currently looking at doing some home improvements on the house to the tune of (for the sake of argument) £50k. Now, principally, is it better to: * Remortgage and release equity from the house (increasing LTV and getting a worse mortgage rate) * Take out some additional borrowing and leave the mortgage on a lower % If…
-
RBS One Account
Hello all, I have a complaint in with the ombudsman about the RBS One account. It is a complicated unique issue as the ombudsman agrees. I took out a one account back in 2002 roughly at 10% buy to loan ratio. Later they allowed me to add another property into the one account which was a flexible mortgage bank account. The…
-
£25k Early Repayment Charge on a 5y fix - over 4.5 years in!
Does anyone have any experience with early repayment charges? Our financial circumstances have changed since we took out our 5 year fix and we wouldn't be able to re-mortgage or pay the variable rate when it comes to an end in October this year. House is now on the market, and our plan is to buy somewhere either with no…
-
Change of property, no valuation and change of product fee?
We had a mortgage offer from Barclays in regards to a property we were due to purchase. Unfortunately this fell through, and shortly after we found another. The new property is approximately £30,000 more than the previous one. I called Barclays and asked them what we should do and our adviser suggested we amend the current…
-
Mortgage deals pay product fee or not
On a 2 year fixed rate mortgage, is it better to pay £999 or £0 for a new deal. for example term 2 Year initial rate 1.69% base rate n/a monthly cost £279.46 product fee £999.00 term 2 Year initial rate 1.89% base rate n/a monthly cost £283.54 product fee £0.00 (about £96 more over 2 years)
-
Natwest Mortgage interest
Hi, I have recently took out a NatWest mortgage. On my online banking it's just showing the advance and 30 pounds funds transfer fee. Are NatWest calculated applied daily monthly or yearly? Long time ago I had Nationwide mortgage and there internet banking updated interest on daily basis. Thanks
-
fixed rate mortgages
HI can any one tell me if i would have a chance of compensation over a fixed mortgage which finished last january, it was a ten year fixed at 5.8% it started in 2008 and shortly after the rate started going down and kept going down , now i am wondering if we can say that the bank may have mis sold us knowing that rates…
-
Solicitors saying 11k Stamp Duty... Help.
Hi all. I am a 31 year old looking to purchase a property. I contact The Post Office who work in association with RBOI and asked for a mortgage on a £273k property. I applied for the "First Start" mortgage with my mother also willing to go onto the morgage as somebody to help me. I will be responsible for the mortgage, and…
-
Tips for getting additional borrowing
I have a mortgage at 24% LTV currently (i.e. very low). I have four years remaining on a good interest rate, indeed the best I could find last year when I took it. I also tried to take some additional borrowing, but was declined - and they couldn't/wouldn't tell me why. Actual figures involved: House value: 130k…
-
Prepping for Mortgage Application
Hi all, Will be applying for our first time buyer mortgage in around 6 months with my wife so we are just trying to get our finances in the best possible place prior to this. My wife finished University in September last year and is now working full time and now has her student overdraft (0% interest) to pay off - £2000…
-
shared appreciation mortgages
Hi Can anyone let me know the latest on SAM's'. Do you know of any class action? Just found out my hubby (now RIP) took out one of those awful mortgages in 1998. Any ideas if I can do anything about it? Thanks A Allan
-
Mortgage offer and exchange but another problem
We have just exchanged contracts on a new build that will be ready in July. Unfortunately my car finance deal is up and due to renew. This has all been taken into account when we applied for the mortgage so won't be a surprise as I already pay for a car monthly. However if I settle my old car finance and take out a new one…
-
Remortgaging - will pension payments hinder?
Hi there I am due to remortgage in June 2020. At current projections my mortgage will be approx £122k at this time (although I am aiming to overpay to get it lower). I earn approx. £35 pa but put 10% into my pension in order to take advantage of my employer match. Would it be advisable to stop pension payments at some…
-
Help/ advice needed about my car finance
We have just exchanged contracts on a new build that will be ready in July. Unfortunately my car finance deal is up and due to renew. This has all been taken into account when we applied for the mortgage so won't be a surprise as I already pay for a car monthly. However if I settle my old car finance and take out a new one…
-
Government to sell former Northern Rock mortgages - MSE News
The Government has announced it is selling off 66,000 mortgages and unsecured loans originally held by NRAM, formerly part of failed lender Northern Rock...Read the full story: 'Government to sell former Northern Rock mortgages' Click reply below to discuss. If you haven’t already, join the forum to reply.
