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Mortgages & endowments

Archives for January 2021

Using a personal injury trust for mortgage deposit
I have been advised to set up a personal injury trust fund with the compensation I have been awarded as this protects my compensation, incase in the future I need to claim benefits. I want to get a mortgage and wanted to use money from the trust for the deposit - I have read that if you do this the deposit is in the trusts…
Shared ownership and Universal credit
I wonder if those knowledgable in shared ownership purchases and Universal Credit could help. I understand UC will pay towards the rental aspect and service charge of a Shared Ownership. How does that work practically to assess affordability - because the person wont be getting that element of UC until they complete on the…
Energy and Transportation search recommended by conveyancer
I am buying a new build property (flat within a block) which is off a major exit on the M25, and I have not too long ago instructed my solicitor and paid for the initial searches which were: Local Authority search, Water and Drainage search, Chancel Repair search, Environmental search and Flood search. My conveyancer has…
CCJ/Bad Credit Mortgage with 20% Deposit
Is it possible to get a mortgage with a satisfied CCJ & 2 satisfied defaults with a 20% deposit? It would be quite a small mortgage on a property worth £50K.
Overpaying or shortening term on mortgage - overpaying better?
Hi there. I have what I imagine is a very simple questions but so farro mortgage adviser has been able to properly answer or explain to me. Essentially I want to know what makes more financial sense, overpaying your mortgage or shortening the over all term. For example and using simple figures for ease... Say I have a…
Anyone wants to share Ltv and their interest rates?
As per title, just interested in peoples mortgage rates. Mine is 75% Ltv1.79% fixed for 5 yearsOver 25 yrs
Investing in own limited company
Usual apologies about this post probably being in the wrong location...... My situation. I own a small limited company (not property related) which is solvent and debt free, and some BTL properties personally (some mortgaged, some owned outright). I looked into (online only, I don’t want to involve my accountant at this…
Natwest AIP online... but not on the phone?
Hi, just reaching out for some advice. I applied for a joint mortgage agreement in principle wit Natwest this morning, and on their page it came back and said we are unable to proceed at present. Then, within 5 minutes an email arrived to say 'congratualtions here is your AIP for upto 309k' property price. I clicked to…
Can small ‘developers’ use help to buy?
Hi I’ve been renting my house for 8 years and we are looking for a property to buy. We need to use help to buy because we have adverse credit if we didn’t use HTB then we would have to pay 25-30% deposit which we don’t have. We live on a little cul de sac which we love and theres a bit of land that someone has bought and…
How can I check my mortgage offer?
Hello all! We have just been informed by text and email from Santander that we have been offered our mortgage. As it's Saturday, our mortgage broker is having a well earned rest, but I would like to check the details of if (eg if the valuation of the property is the same etc). I think I can access it online but I'm worried…
Rental property "earned income" and mortgage affordability
I rented out my property outside London (had a permit to let from my mortgage provider) and moved into a rental property in London. However is am now ready to sell my property and buy something in London to live in. Please my big question is:Seeing as the rent I get from my property is classed as "earned income" which I…
Mortgage with bad credit
Me and my partner are looking for a mortgage. He has no history of anything ‘bad’ on his credit file but I have a few missed payments over the years the last one dated august 2019. I am stressed and losing sleep that this means we won’t get a mortgage. At present I don’t owe any credit on anything.
mortgage renewal advice
I am coming to the end of my 2yr fixed deal, my house is worth £220k and i have £50k left on my mortgage but i want to pay a lump sum of 15k, i have 17 yrs left on my mortgage.I have been advised to go on a 2yr tracker mortgage and pay as much off as i wish, eg £15k, what would you advise as having 17yrs seems a long time,
Selling home - mortgage fixed rate finishes on the 31st of March (Stamp duty holiday) Early Exit Fee
I have recently agreed on a sale of my property. The buyer is obviously going hell for leather to ensure the it fits into the Stamp Duty Holiday, otherwise he'll owe an extra £17k. However if this was to happen, then I would have to pay an early exit fee of £8500. Even though there is a window of just 24 hours before that…
Does joint ownership have to mean joint mortgage?
Hi i jointly own a house and currently have a joint mortgage with my mum. I’m hoping to remortgage in the next couple of months and want to borrow more to consolidate some debt? Mum’s age (72) is limiting my options even though there is more than enough equity in the house and theoretically my salary alone qualifies the…
Gifted property - mortgage implications
My mum has recently passed away and my dad’s decided that he’d like to sign the title deeds of our family home over to his children (me, my sister and brother). He’ll continue to live in the house (with a Liferent agreement). My husband and I bought a house nearly two years ago and we’re due to re-mortgage this year, will…
Paypal Credit
Hello, I’m wondering if anyone is able to ease my mind here! We have just been accepted at DIP stage, in the process of sorting the full application. This is second time lucky after our first lender changed their criteria in between DIP and full application, making us no longer eligible. I have a Paypal credit account that…
Anyone waiting for Aldermore or experience with them?
Hi, we applied with Aldermore at the very beginning of January after a decline from another lender. They carried out a soft search and then a hard search on my credit file, and the valuation was carried out yesterday. I was just wondering if anyone has applied with them before, or is currently waiting for a decision and…
Paying the majority of a deposit
Hi, My partner and I are saving up for a deposit to buy a house. I will be paying a lot more towards the deposit as I inherited some money last year. I know this sounds awful, but I'm worried that if we split in the future then I could end up losing out. Is it possible to buy a house with someone and own slightly more of…
Mortgage with Late Utility Payments
Hi there, My partner and I are looking to get a mortgage at some point later this year. We have a combined wage of just over £60,000. I have been at my current place of employment for over 8 years and my partner almost 15 years. We have lived at our current address for over 6 years. I have approx £2700 on a credit card and…

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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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