-
What should I do
We are in the middle of buying a property and our mortgage offer is about to run out after already having one month extension. We have just been told they will extend a second time (after being told they wouldn’t do that). As the interest rates have dropped recently would I be best to stick with my original offer or try…
-
Lenders Stopping Lending
We are about to complete our sale/purchase next Friday,. I know, about as bad of a time to do this as we could get. Has anyone heard of banks pulling mortgages after contracts have been signed due to a liability issues if they are lending to borrowers knowing their application has materially changed due to the pandemic?…
-
Borrowing
Had plans drawn up for extensions the house looking at borrowing more on the mortgage but should we wait with all the unrest within the world with this COVID-19?
-
Short Term Loan Secured of Home - Is it Possible?
Is there any financing solutions that will allow me and my wife to live in our house for another 2 to 3 years? We can afford to do it and our home has a market value 3.5 times greater than the proposed loan but nothing seems possible. A bridging loan will only last one year and has high fixed costs. If renewed for a…
-
Confused & disappointed by Rosolite mortgages Covid -19 response need some help!
Ok so i'm confused my mortgage was transferred to Rosolite mortgages a trading name of Topaz last year from Bradford and Bingley and so given the announcement by the government i was hoping to get the 3 month holiday to just help given my current situation or at least find out if i can get it. When i rang them they told me…
-
New fixed rate options
Hi all, Our 5 year fixed rate is just coming to an end and we have been offered a new 5 year deal which is around £100 a month less than we were paying before (which is nice!) However they also offered us a 10 year fixed deal around £40 a month cheaper... I am torn as on the one hand the extra £100 a month would be nice at…
-
Covid-19 and Santander - can't get through
Hi. I'm on day 3 of trying to get through to Santander regarding a mortgage holiday. I'm getting angry as other people I've spoken to have got through to their lenders easily via phone or submitted their request online. Is anyone else having trouble? I know they're flooded with enquiries but they've had 3 days to sort out…
-
LifeTime Mortgage - interest rate cut?
I have recently completed on an L&G Lifetime mortgage. The terms are that the interest rate is 'fixed for life' which I understand. However the bank rate has just dropped to 0.1%. Is it worth asking L&G if they can reduce my mortgage interest? Any thoughts?
-
TSB have messed up! (Not coronavirus related)
Good afternoon, We have our mortgage offer in place and our new build house is on track to be completed by end of May. We don't have the best credit history, however, we haven't missed any payments etc for a very long time (definitely more than 10 years), never had CCJ's or anything like that. We did have a DMP in place…
-
Mortgage interest calculation formula
Sorry really thick as 2 planks and google has not been very helpful, so hoping someone can assist I would like to know the formula for calculating the monthly interest amount and the minimum monthly payment on a mortgage. Here are my details * Outstanding amount is £39307.64 * Interest rate is now 1.1% ( I am still on the…
-
Fixed Rate Mortgage and new interest rate cuts
Hello All, Appreciate if anyone can guide me on the step forward regarding any opportunity on our fixed rate mortgage? We have a 5 year fixed mortgage. Looking at the rates being cut, I am wondering if its worth ditching the fix and go to variable rate although I doubt if the banks would let us in the current turmoil.…
-
Coronavirus Mortgage Holidays - what did your bank say?
Saffron BS agreed to pause our payments for 3 months but at the end of the 3 months we have to repay it (the instalment amount and time to repay will be agreed at the end of the 3 months). We had hoped our mortgage would just be extended by 3 months but they refused to agree to that. They also said our credit rating will…
-
Mortgage Holidays - Nationwide specifically and what restrictions might there be
Hi, My workplace in all likelihood is going to temporarily lay off a number if not all of their staff. They advised that we speak to our mortgage providers about getting a mortgage holiday while temporarily laid off. I appreciate that interest will be added etc but that seems to be the best of a bad situation. I am with…
-
Withdrawing Consent to Let
I have a mortgage which is coming to the end of its fixed rate. I moved abroad at the end of last year and was granted Consent to Let, but as a result of that, they will put me onto the SVR once the fixed term ends and will not negotiate another fixed rate while I'm still on CTL. Due to my circumstances abroad, it's…
-
Mortgage holiday or use my overpayments balance?
Apologies if this has been asked. I've just found out that I'm going to be reduced to a 3 day week so funds will be tight. I'm looking at taking a mortgage holiday and understand that I'll be paying more interest overall, however, I am in credit on my mortgage as overpaid for a while and bank said I could use that up as…
-
Is there a calculator to show length of term change
Hi guys, i've decided to go ahead with buying the house i have an offer agreed on but with the current climate i'm thinking of extending my term from 21 to 25/27years. I will still be putting down the same deposit so LTV wont change and it will still be a 5 year fixed. But will extend my term to safe guard and lower my…
-
Mortgage Advice please
I've split from my longterm partner. We have lived in our house for 6 years. Although at the time of purchars my partners financial situation was better than mine so took out the mortgage in their name only. We're on good terms at the minute and are still living together for the time being but unsure of the best way to…
-
Tesco Mortgages - Halifax
Hi Does anyone has any idea when this is supposed to take place ? seems to have gone very quiet these last few months ?
-
Meant to complete next week, but my job could be on the line!
We exchanged contracts almost two weeks ago, with a completion date set for the end of next week. This week at work we were told the business (a visitor attraction in the tourism and leisure industry) is struggling and some of the staff may have to prepare for reduced working hours and/or unpaid leave. No further info is…
-
Is mortgage payment holiday a benefit or loss to borrowers?
Hi - genuine concern and not ranting and hence looking for constructive discussion. Mortgage payment holiday as announced will definitely help those borrowers who can no longer afford their monthly payments due to the economic and current situation. However this will only provide a temporary relief for 3 months and will…
