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Mortgages & endowments

Archives for November 2019

help to buy equity loan-overpay mortgage or high intrest saving account to pay off loan
My daughter has just bought a house using the help to buy scheme. She can afford to over pay mortgage each month which should offset the loan after 5 years. Is this a good way to address the loan, or would saving in a high intrest account be better. The loan is 50k. Her mortgage is £1100 a month and she can overpay by £200…
Husband tied to previous mortgage
Hi! I'll try to summarise our situation. I met my 2nd husband over 5 years ago when he had already separated from his partner but they were still living in the same house. He moved out around 6 months later to a rented flat for a year then moved in with me. I am the sole home owner and mortgage free. We have now been…
Advice needed – Can I let out on a residential Mortgage.
Hello all, Really appreciate any help you are able to offer here. In the Military and being posted to a new location. In the process of buying a house (early stages – not expecting to complete for several weeks yet) and I’ve just been offered a better position elsewhere temporarily (18 – 24 months. I can get military…
Moving house...
I am just coming to the end of my fixed rate mortgages and thinking about getting a new rate. However, it has just occurred to me that I may have been misled out of around £5000 - unfortunately i didn't think of this earlier! When I moved house in 2010, I took out an additional mortgage on my mortgage company's…
buying a second home
We currently have mortgage on our home but would like to release some money to buy a new house. Current house - 350K, mortgage of 197K Future house - 650K Would like 50K towards buying the new home (by borrowing more) What are the options other than selling this current house.
Paying off early
I currently pay £600 a month mortgage while it’s on a fixed 1.9% interest rate till 2022, will these arranged overpayments be taken in to account towards my 10% a year charge free Or will I be able to pay another 10% on top a year?
Mortgage advice
Good evening, Looking for a little bit of advice, We are in the process of buying a shared ownership property however the sellers have been delayed with their new build and looks like it now be ready in march ( we had our offer accepted in august). I have a mortgage offer all in place and lasts until mid April. A freehold…
Help understanding mortgage interest
Hello. I’m currently considering moving onto a 10yr fix at 2.34% and my quote shows for £49993, the total amount payable after 12 years is £57,347.72. I assume the difference of 7k+ is the interest? If this is correct, if I remain on my existing SVR of BOE base rate+2% does this mean that the amount I owe is £49993 (which…
Mortgage 2nd house
Hi, I have a house with £3,500 left to pay on the mortgage and hope to clear this soon, i am looking to buy a second home to live in and let my parents live in the first house, new house would be £90k - £105k original house worth £150k, do i look at remortgaging the old house to buy the new or just take a mortgage out on…
Help to Buy ISA Bonus Question.
Hello, I’ve been struggling to find an answer to my query, having found conflicting information on the internet. My partner and I have bought a house at £129,000. Together We have saved up a total of £20,000 in a help to buy ISA. We are taking out a mortgage and have only accounted for that £20,000 so will be borrowing…
Calculation of ex-partners beneficial interest in property
Hi All, My wife, stepdaughter and I live in the house that my wife owned with her previous partner. They lived together for 3 years in the property, 15 years ago. My wife never had her ex-partner removed from the mortgage. We are now looking at remortgaging, but are uncertain about how much the ex-partner could claim. It…
Paying off mortgage but penalty
I have a fixed rate mortgage (2%) which has 2 years left with about £5K outstanding. I called the bank with a view to paying that £5K off and they said I would have to pay £500 early redemption fee. If my maths is correct, if I carry on paying the mortage as usual for the next 2 years the interest would be much less that…
Name removed from Land Register
My husband and I are remortgaging at the moment and we have just had a letter from the mortgage company advising they have checked the land registry and only my name is on it so they can’t offer us a joint mortgage. We have had a joint mortgage since we bought the house in 2002 and remortgaged at least twice since then.…
2 year or 3 year fixed Mortgage
Our current mortgage (fixed 2.15%) is coming to the end of the fixed rate. I've had a look around and found two possible options, both fixed. 2 year fixed 1.49% 3 year fixed 1.69% Should I consider 3 years fixed with peace of mind that interest rates *could* go up
Do I need my broker?
I am coming to the end of a 5 year fix - this was arranged by a broker, as we were first time buyers...We have overpaid consistently and have knocked the loan down and value is up.... I just had a look on this page to see some attractive deals: https://www.moneysavingexpert.com/mortgages/best-buys I know to apply for these…
Equity release to pay off mortgage?
Wanted advice on a complicated situation. I'll try to keep it simple: My partner (not married but three kids) of 28 years died in 2013, leaving no will and with my name not on the mortgage or deeds. No life insurance and tons of debts. Before you say, how could you have let that happen? He wasn't a nice man and held a lot…
Best way to raise cash on mortgage free home
I'm in the process of selling my home of 17 years, which after paying off my mortgage & debts leaves me just enough to outright buy a much smaller old property in Scotland & cover the essential repairs (damp & roof) raised in the survey. The new house is tiny & needs work but has a maze of brick built garage/outhouses,…
Mortgage for a field
Anyone got any experience of getting a mortgage to buy a field. My wife has horses and I have the chance to buy a field to put them in, but not sure where to go to borrow the money. We are looking to move house to near the field and ideally I would put them on the same mortgage but they are on seperate deeds and not sure…
Switching to a buy yo let mortgage, new deposit ?
We are going to rent our house out but need to change our mortgage over to a buy to let mortgage. We’re with Halifax but have to remortgage with someone else as they won’t let us switch. If we remortgage will we have to put another deposit down? Even though there’s now equity In the property? We have £60000 left on the…
Non standard construction
Hi everyone, I was wondering if anyone could give me any advice. We have submitted a full application for a mortgage with Kensington. 95%LTV. Everything was going well, valuation was carried out Monday and our broker came back to us today to say that valuation had came back that the house we are wishing to purchase might…

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Mortgages & endowments

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