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Mortgages & endowments

Archives for February 2021

Credit cards the dos and don’ts
Have been saving hard for a mortgage deposit and have also paid off all of my previous debts in the process. I still have 5 credit cards open with a total of £26000 credit available across all of them. I’m just wondering if I should close the accounts? Will they see my available credit as a risk that I may spend in the…
Conditions on mortgage offer...credit report not updated
Hi, I've posted on here before for advice but as my completion was delayed into March I've started stressing. Due to complete on March 19th now. My Halifax offer states I have balances which I must clear before/on completion. My credit report hasn't updated/won't be updated before completion and I still have balances…
Mortgage help/advice
Hi Guys not sure if this is the right place to post this but ill try anyway lol. Im needing some advice/help as im in a real pickle with my mortgage. Im on an interest only mortgage with 9 years left to run on it. We were put onto this by a broker as the best option for us at the time. We were never advised or offered an…
Discuss the upcoming budget/5% mortgage
This news couldn’t come soon enough for me. Having been saving for what seems forever. Just wanted to start this to get peoples views on what will be announced, what may be said. I know no one will know until the day but good to talk 😊
Considering buying a flat for our son's university years
Seeking advice from the collective wisdom of the community... Our son is in his first year of uni in Glasgow (albeit not having yet attended a live lecture and currently studying from home). In the expectation that by the autumn life will be more 'normal', we will be needing to arrange digs for his remaining 3 years. Rent…
Adverse mortgages right to buy
Any one know who are still doing Adverse mortgages right to buy Thanks
Hard searches
Hi, I know these are difficult times with mortgage people wanting very large deposits to be considered for a mortgage. I know there are rumblings that the government are gonna help in this respect in the budget. My friend, before this government help, that might be possible, was desperate to find a mortgage to buy the…
Can't figure what option is best Nationwide mortgage dilema
OK so any help would be appreciated I'm stuck with the maths here.£61648 is my outstanding mortgage balance. I have a 10 year fixed rate (I know bad decision with hindsight) 2.89% started in June 2015.Monthly payment is £500 and every month I have been overpaying by an additional £220.Max annual overpayment allowed £12,500…
5% government mortgage guarantee
Will the 5% government guarantee mean that interest rates will be lower now there is less risk for the lender? Not really a good deal of interest rates are high, it seems this is actually aimed at the rich getting richer than helping youngsters.
15% Deposit
Applying for mortgage with Barclays I'm aged 50 due to retire at 67 and have been given an AIP based on having a 15% deposit only. Has anyone else had this kind of offer is it due to my age thanks
Worth applying to high Street lender?
Hi Everyone, This is my first post here, I need some advice please. My husband and I have been kindly gifted a deposit by our family. My husband has an excellent credit rating, no late payments etc. My credit rating is fair. I have a satisfied default from April 2016 for £68. I had missed payments on some accounts through…
What's the best way for me to get a deposit for my son?
My graduate son (24) is about to start work for a blue chip company in York. He had planned to rent a flat (roughly £650 per month) but we're now talking about him buying a two bedroom terrace, which would cost about £200,000 and renting out a room to another young professional. This would halve the cost of his £850…
Mortgage Valuation Down Valued, Funding Optiona
The situation that I’ve got is as follows... We have agreed a purchase price for a property at £510,000. Our mortgage amount is £295,000 with a deposit of £215,000 (57.85 LTV). We received the valuation back yesterday (done via a desktop valuation model) and it’s came back as £420,000, this is £90,000 less than the…
5% deposit - Budget announcement- bad credit
Hi, Anyone have an idea if the 5% deposit for mortgages which will be announced in next weeks budget will apply to adverse credit mortgages? Can we expect to see a lower deposit requirement too? Also, will rates become more competitive now and drop? I do worry that this will push the already inflated house prices up…
The return of mortgages with 5% deposits!
So its been a while since there have been decent options on the market for buyers with a low deposit. The chancellor is set to announce a new government backed scheme foe 95% LTV mortgages which will be available from April. Is this as good as it sounds for first time buyers?
Change of Property Form - Mortgage application
Can anyone advise if they know what happens once you have your mortgage offer, if the original sale falls through and you therefore have to find another property (same price for arguments sake) and then use the ‘change of property’ form to keep the same mortgage offer but just different house. We MIGHT be in the position…
Nationwide mortgage overpayments - 10% per rolling year or year since opened?
Hi, I can't seem to find an answer to this anywhere in the T&C... I have a fixed term mortgage with nationwide taken out a year ago, overpayments are a maximum of 10% 'per annum'. What I'm struggling to understand is if this is a rolling total, i.e. 10% in the last 12 months, or if the 10% limit resets each anniversary of…
Exchange deposit
Hi there, I have a question - simplified example to follow. If I am buying a house for £550,000 and selling my current mortgage free house for £300,000. I need and have a AIP for £250,000 for the difference. (Assume I have the cash for all the fees and SD). Do I have to put up a 10% deposit at exchange of contracts, or is…
Halifax Mortgage Process
Received AIP from Halifax. Mortgage broker has asked for pay slips, banks statements, etc. AIP said we could get 250k but house is only 210k. We are putting 5% deposit down, with 10% from help to buy loan. Mortgage application is being submitted later, will he submit all documents we’ve sent to him? Or just payslips? Just…
Can I get a bigger mortgage or is there a better method?
I want to buy a house/flat for around 300k, the bank on my salary will lend me about 170k, so I plan to save 100k and then get a mortgage for 200k (assuming my pay will rise by the time I buy and hence I will be able to lend more). Is there any other option I could take or is it a case of saving for another three/four…

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MSE News

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Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
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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
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