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Mortgages & endowments

Archives for February 2020

Question for advisers re rates
I've spoken to a lovely, helpful local broker and they've found me a rate with a lender. I've also spoken to Habito, and they have come back with a rate with the same lender, same fees etc. but that is 0.1% less. Is it because they are such a big broker that they are able to get this cheaper rate? I'd rather use the local…
How to see which is the best deal?
I am at the end of a two year fixed rate deal and struggling to assess which is the best new deal to go for. The two key variables that I want are 1) The total of the payments over the period (typically amount x 24 monthly payments and 2) the remaining balance at the end of the 24 months. Am I right about this? It doesn't…
Mortgage offer-waiting to complete-Very account
Hi, I have a mortgage offer with nationwide, and am due to complete in 6 weeks. While being very good in the run up to applying, and after the offer. I haven't used credit at all. However my very account is now showing as Inactive on my credit report. Am i best ti ignore this, or close the account. I am petrified of doing…
Advice needed on splitting up and buying partner out of house
Hi would really appreciate any advise on this matter. Bit of background; My partner and I bought a house together 6 years ago (88K), at the time I was a student so we made the decision to not include me on the mortgage as would have reduced the amount we could borrow, although I put down half of the deposit and paid half…
Mortgage renewal, have saved up 30k not sure what to do next?
Hi, So these are the details: 10 year fixed mortgage contract which i can get out of penalty free after 5 years which is this year. Interest at 3.14% fixed (at the time everyone advised fixing as it looked like the interest rates were going to go up) Property was £128k I have £71,800 left to pay Monthly payments very low…
60+ mortgage for home improvements
Hi, newbie so please be gentle! My wife and I are moving to a £400k property on the south coast from a flat in London, both retired on small personal pensions (total £20k pa). We will be cash buyers but the property ideally needs £50k of work. We have this and more but it is tied up in a property abroad we have had on the…
First time mortgage
Hi everyone! Not sure if this is the right place (I’m new). I’m just looking for some advice really. Me and my partner are looking to move out, I’m 23 and he’s 22, I have been very fortunate to have around £30,000 given to me from my Nan when she passed. My boyfriend has only recently over the last year taken out a help to…
Interest only mortgage - Claim for Mis-sold?
I have seen that claiming for mis-selling interest-only mortgages is becoming popular. I have this type of mortgage with NRAM (Northern Rock). I have checked with a claims company and they have quoted me a fee of 35% + 7% VAT if successful. Does anyone have information? What are the criteria they work on?
Condition of mortgage
I’ve just had the mortgage deeds returned from my solicitor and on it there is a condition that I clean some outstanding debt before or on completion. Well I’m using equity to clear this after we complete. How does that work? Any help will be great as it’s late and I’m worried! Thanks
Re-Mortgage charging an extra months interest
I’m currently remortgaging and the settlement figure the current lender has given me includes an arrangement fee which I can’t remember if I paid at the start or not to be honest but also a months interest for March( my current deal ends on 2nd March and they said they will take my March payment but refund this back to me…
Finance company has claim against Mortgage for loan never taken out, advice please?
We are looking to move and have spoken to our current mortgage provider, they have advised that we have a debt secured against our property. We have researched and discovered that when we looked into consolidating our debts nine years ago the company put this against the mortgage even though we did not take out a loan. The…
Got Mortgage Offer today BUT...
Got my mortgage offer today from Halifax, but the offer letter contains errors. I'm utterly horrified and baffled about the ridiculous errors Halifax have made. Firstly, the address is wrong - my solicitor is going to get the conveyancing team to amend it. Secondly, the lease length is wrong. Offer letter states 100 years,…
Complicated situation
Hi all, My partner and I really want to buy a place together but my situation is holding us back. I am a supply teacher at present, weekly pay guaranteed till the summer holidays. In Autumm though I am going to start on a graduate trainee accountant programme. The problem is that there is not a start date available for the…
Coming off the mortgage and staying on the deeds
Me and my partner currently have a mortgage in place however we are trying to remortgage to get a better deal my credit isn't perfect but my partners is better so is his salary the mortgage advisor is suggesting my partner just get the remortgage and I just stay on the deeds so we get the better offers I feel very…
Looking to sell at the end of fixed rate mortgate
Hi, We are coming to the end of our fixed mortgage with Halifax (1.62%) at the end of March for our new build purchased with Help to Buy. We didn't think selling yet was a option however had the house valued this week and have made enough profit to move on so are putting the house on the market this week. I'm after advice…
Natwest Mortgage - do they allow lodgers?
Hi all My sons are due to exhange on their house purchase this week (finally!) and their mortgage is arranged with NatWest. The solicitor has just mentioned to us that there is a covenant saying the house can only be used as a single residential dwelling and this would not allow Airbnb rentals. My sons were originally…
Commercial or Residential Mortgage?
We work from home and need more space. We would like to buy a flat in the town centre which we can use as a workshop and office to meet clients. The flat will be quite cheap. We may outgrow it in a couple of years. Are we better off; Paying cash, then renting it out? Ideally we wouldn't want to sink all our money into it…
Paid in dollars. Who will accept for mortgage?
Hi If you work on a cruise ship (paid in dollars into a regular Barclays account) is there a lender that will accept this to grant lending for a mortgage? It appears that many banks take issue with the pay being in dollars and won't lend on this basis....
Address not registered yet
Just a general question this one. We are in the process of buying a new build property. I've noticed that the address isn't actually showing up on any post code finders on online forms, what is the process with registering the address? Who's responsibility is that and when should it happen?
Can I remortgage to access cash for personal use?
Hi there, I have a quick question about remortgaging and whether it can be used to access cash for personal use. I switched to a two year tracker in October 2019. The LTV is about 58% and there is about £200K of equity in the property. I have some personal savings from inheritance but want to take about £50K out of the…

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MSE News

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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
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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
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