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Mortgages & endowments

Archives for November 2020

Mortgage rates dropped after offer
Hi,I've had my mortgage offer through from natwest, when I applied it was 1.5% for a 5 year fix @ 60% LTV, now they are offering 1.41%Is it possible (or simple) to get this new rate (I've worked out it will save me £6 a month so £360 over the five year fix)I've heard some lenders allow you to change rate easily but others…
How long to arrange a Help to Buy mortgage
With the current help to buy due to end in two weeks, we have just found a property that we would love to purchase, but would be over the cap as of the 16th of December. The property is valued at £350k and we have a combined annual income of £120k. Does anyone know how long the whole process takes, and are there any…
Pepper Mortgages - DIP issued, all paperwork sent and now waiting for formal offer
Back Story So back seven years ago lost the lot for reasons that I wont go into here, my credit was thrashed and my property was repossessed. During this time I had paid in excess of £80000 in rent, for what can only be described as a string of houses that were just rotten. Since then I have rebuilt my credit with the help…
Experience of Halifax remortgaging?
Just wondered if anyone who has recently remortgaged/mortgaged with Halifax or has knowledge of the process/timescales could share? AIP done and full app submitted 26/11 via broker Hard search also showing 26/11 Desktop valuation done and approved 27/11 What next? Will it be underwritten by a human? Any idea of timescales?…
Mortgage Options on 2nd Home
I am in a position whereby we have found a house in an area we want to move to but may need to buy this before our existing property has been sold....my current home is mortgage free valued at >£300k and the house we are looking to buy is £225k as we are downsizing.....what is the best option on a mortgage to bridge the…
Not a first time buyer, but am I eligible for a first time buyer...?
OK I Know it sounds confusing. I was married and I've been divorced for 9 years now. I've been paying off debts from the previous marriage and of course, I lost the house in the "deal" so I have been renting since then. I want to purchase a house in the next 3 years or so, but as I am not a first time buyer, I am told I am…
FTB - What were your fees?
I am hoping to buy my first home March / April next year. For around 200k with 10% deposit The bracket generally given online for Fees when buying is quite vague. To give me a realistic idea - can some of you kind people tell me what your fees came to when when purchasing a home?
Exchange of contract
Hi guys we are suppose to exchange contract tomorrow but banks hasn’t confirmed yet, my solicitor said she will not exchange contract unless bank confirms, our completion date is on 7th of December, can anyone advise how soon bank will confirm so we can exchange, and how many days it will take for them to transfer funds,
95% mortgages
Are any lenders still offering 95% LTV?
HSBC Mortgage on a property with estate rentcharge
Hi, We were due to exchange this week for completion before Christmas on a property built 3 years ago and were advised by our solicitors that the property has an estate rentcharge. Our solicitors have advised that this can potentially delay our completion as our lender, HSBC is known in the industry to have very stringent…
Mortgages and pension salary sacrifice
Hello - Does anyone have any experience on how mortgage providers factor in people who sacrifice a lot of money into workplace salary sacrifice schemes? My payslips clearly show the pension contribution so I can prove my gross salary, but would my borrowing amount be limited to 4.5 net pay? If there is an impact, is there…
Metro bank mortgage timeline
Hello does anybody knows the timescale for a mortgage offer with metro bank? Applied for application on Thursday, been already charged for valuation fees. Wondering how long it will take for them to carry out valuation and send a mortgage offer
Moving deposit money over
Hi guys. I'm getting a large sum as a gifted deposit from my parents. I'm just curious, because Google doesn't show any results for this question, does it matter when abouts/if I transfer the money for the deposit from my parents account to mine? Like, are there any pros and cons to doing it at a certain point or at all?…
Lender who takes commission into account
Good eveningCan anybody please recommend a mortgage lender who would take 100% of my monthly commission earnings into account when deciding how much they would lend? A Google search is unclear as a lot of the articles I find are out of date ie pre pandemic and my own bank does not take commission into account. Many thanks
Am I getting my pants pulled down? Jump ship or stay put?
Good Evening My mortgage is due to expire at the end of this year which is a two year fixed rate. I am currently with Natwest and have a remaining mortgage of £176k which is split into two pots. Pot 1 and Pot 2. Both pots have an interest rate of 2.09%. Remaining term of my mortgage is 15 years 8 months and pay roughly…
Darlington Building Society
Has anyone had any experience, either as a broker or a borrower, with Darlington Building Society? I am thinking of applying to them for a Shared Ownership 5 year fixed and can find very little information on them here! Anecdotes greatly appreciated! Not sure which CRA they use and can't find any info about how they view…
Stamp duty holiday extension? Thoughts ?
Does anyone think this will be extended?
Any hope? Declined after mortgage interview application
Hello, Looking for some help! Do we have any hope of getting a mortgage after being declined? We were declined for a Barclays Springboard Mortgage putting in 5% of our own deposit and a family member putting 10% down in a helpful start account which they would then get back at the end of the 5 years fixed term. We passed…
Thoughts on Bank of England base rate?
Will this continue to be at such a low rate, or does it rise rapidly given current circumstances? Thoughts please, as I was reading that rates could go negative - will this impact tracker mortgages more so than ever, meaning better deals for tracker customers...
When lenders offer £500 cash back or free legals....
Is it always worth going for the free legals? Its a standard remortgage case, but I feel I want the £500 cash back! Is there any ways around this, online conveyencers etc, that do it cheap? Thoughts and advice?

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
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
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
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 low-income 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.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
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
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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