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Mortgages & endowments

Archives for September 2022

Chances of Santander waiving Early Redemption Charge with 1 week left?
Hi all. I have a 5 year fixed rate with Santander that expires on 2nd Jan 2023. I'm looking to purchase a new build and the builders are obviously keen to complete by 31st December 2022. What are the chances that Santander might be kind an waive the ERC if i were to redeem the mortgage literally a few days before it…
5 or 10 year fix
Hello Is there a consensus / view on fixing for 5 or 10 years now to lock in current rates (on remortgage)? Will things be better in 5? Or better to avoid risk and fix for 10? Or switch to a tracker? Thanks
anyone re-mortgaging interest only mortgages?
my current mortgage is not fixed , 2% higher than boe base rate, interest only,property worth 360,000 , 120000 remaining.6yrs left on current mortgage , ant ideas ?
Mortgage backup advice
Hi all, I've scoured the threads about backup mortgages but have seen some conflicting advice. Current situation is we have a 10 yr fix 3.49% mortgage offer with Halifax that expires on 31.12. arranged via a broker. This was for a property we had to pull out of due to undeclared subsidence. We've just had an offer accepted…
Ten year fixed
Hi , any brokers on here? What’s the cheapest ten year fixed at moment?
Melton Building Society
Does anyone know how I apply with this lender? I am interested in their interest only discount but the website only links me to the money advice bureau. Can brokers access this company?
Desperate to fix / delays / dilemma!
We are moving house and need to secure a 5 year fix on new debt around £475k (majority of our debt is fixed til 2027 at 1.23%, phew). Went to broker today, rates available to him are higher than online deals! E.g. Natwest 5y fix @ 4.24% vs 3.8% online. Crazy. He told me to go home and apply for the online deal asap, which…
Alder more and credit cards
What’s their policy on credit cards? I had used mine last month but paid off in full at the end of the month. Have cancelled it since. Will it be an issue
Appointment needed for NatWest product transfer
Hi all Currently have a 2.09% 2yr fix with NatWest, ends in June 2023. Decided we should pay the ERC (£2100) to transfer to a 5 year fix at 3.77% with NatWest. Thought this would be a straightforward process given we are staying with the same bank but they are saying we need a Zoom appointment to go through this and there…
Current mortgage rates + first time buyer is it worth it?
For the past year I have been waiting to get a permanent contract from work in order to get a higher mortgage, now that I have that with the current housing market, mortgage lenders pulling loads of their products and the interest rates being so uncertain/high. Is now a good time to go ahead with getting a mortgage and…
Mortgage Offer Expired Between Exchange and Completion
Hi, I am seeking advice on my stressful purchase experience. I got a mortgage offer in March for the new build property whose completion is in November. Everything went smooth and I did an exchange of contract in May. I had a mortgage advisor who handles my mortgage related matter, and he mentioned that my mortgage offer…
Should we get a longer fixed rate?
Hi all, We currently have a 2 year fixed rate with NSBC at 1.59%, which runs until April 2024. with everything that is going on at the moment i am starting to wonder if it might be worth going for a longer term fix to guarantee payments. currently the HSBC's offer is 5.01% for 5 years which is a massive increase but it…
Taking home mortgage to expand business
Hello, I own my home (mortgage free) and I would like to know if it is possible to take a mortgage on my home in order to expand my business. I would need to take mortgage in amount of 30% of my home value. For example, if my home value is 100gbp (hypothetically), I would need bank to borrow me 30 gbp. My salary is…
Mortgage interest rates on Interest only Mortgage.
I need advice regarding a mortgage. An interest only £220,000 mortgage from 2007, just pre crash. I'm 63 living on a private pension. For the last 14 years the repayments have averaged £240 per month but in February it changed, nearly every month, October's will be £508 with Base rate of 2.25%. This is still manageable. No…
Will banks ever negotiate on ERC?
I have a 5 year fix on a mortgage which we took out a in the summer. We are really lucky we secured a great rate before all this madness. We are now however faced with needing to sell at some stage in the next year for various reasons If interest rates rocket, does anyone know if lenders might waive some of the ERC? I…
New rate from Halifax 3.73%
Along with many others I'm spending a bit of time trying to work out whether we would be better to pay an early repayment charge for current fixed deal which finishes in April 2023. Our early repayment is charge is in the region of £2000 - I'm looking to go to a 10 year fixed rate which they have offered me at 3.73% - it's…
Remortgage for new fixed rate or pay variable?
Hi all, Apologies if this is a basic question but my (shared ownership) mortgage 2 year fixed rate is coming to an end in a few months time and I’m not sure on what would be a sensible approach. i will be looking to sell my flat in the first half of next year, with the plan of getting a larger place with my OH. Would it be…
Will BOE interest rate rise just go on top of the mortgage rises in preparation?
The interest rates have already gone up by about 1.5% presumably in preparation for interest rate hike from the BOE. So, my probably stupid question is, when that rate increase happens, are we just gonna see that on top of the increases that have already happened? Or will they adjust with the fact they have already…
Bank loan to pay off mortgage?
Hello All! With all the worry about rising interest rates and mortgage deals being pulled, I am on a tracker deal 0.74% above base, and thinking on best course of action. I have 4yrs left and approx £23k remaining on my mortgage.....wondering if a fixed rate loan (can get 3.3%) is way to go to pay off mortgage early and…
Further borrowing -0% Credit Card Debt
Hi, I'm looking to remortgage with further borrowing to pay off credit card debt, I'm concerned credit card interest free deals will be taken off the shelf hence the above. Can you put 0% debt onto a mortgage? Thanks in advance.

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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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