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Help to buy
We currently have a help to buy loan which we are in the 7th year of having. With rising interest rates I was wondering if anybody knew how much it will impact our loan.
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Should I run a mile? 4.64% 2 year fixed mortgage renewal with Santander.
14 yrs £58k left. Fixed rate ending in Jan 2023 was 1.89%. Realise rates are increasing but wasn't quite expecting such a jump. Should I (run and) shop around? Got 14 days to accept. Apart from the agonising 8 hours queuing on phone call, was thinking I might try them again if rates aren't predicting to rise as steeply,…
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To pay or not to pay.
Our fixed rate ends in January and will leave us with around £30,000 left to pay. We have just over £30,000 in savings. So should we pay it off or remortgage ? In addition to the repayments we overpay so in theory we will have an extra £700 to save. However our single daughter is on a fixed rate mortgage which is due to…
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Will 2023 be a good time to get a discount mortgage?
Like many others, my FR ends in May next year. I can begin to remortgage from 1st January and I therefore do not see value in paying my ERC (£6,000) which leaves my in a really bad spot as I could be 'fixing' near the top of the market in terms of forecasted interest rates. This has led me to think that taking out a…
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Mortgage Guarantor - as an Expat
Not sure if anyone knows the answer to this... A bit niche..! At some point in the next year, my daughter will probably take a leap into property ownership. She has a hefty deposit - circa 50%, but, as a student, will need a Guarantor for a mortgage. The question is - does anyone know if any mortgage providers will accept…
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Mortgage ends next year - pay ERC or wait?!
I have shared ownership mortgage on 40% of my property. My current fixed rate deal of 1.69% is due to increase in August 2023. I'm too early on to be able to get a new fix right now but I'm worried that by the time I renegotiate a mortgage, interest rates and deals will be worse than they are today. I'm currently with…
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Issue with Natwest Mortgage Application
Has anyone else had issues with a Natwest Mortgage application that was initially accepted, and then rejected with the statement that you failed the credit check? This happened to my daughter on 14th September, and Natwest failed to inform her of their decision until she checked with them today. When she checked with…
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Overpayment calculator - error?
Hi Is anyone else having difficulty with the overpayment calculator. For example if I enter my info and try to calculate an overpayment of 10% each month the calculator tells me I'd pay my mortgage off in just over a year. As much as I wish that was true I know it isn't. Details: £90k left, term is 10 years, int rate is…
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Where to find calculator for lifetime mortgage for first time buyer
I'm a first time buyer looking to take out a simple first time buyer lifetime mortgage. I know zero about mortgages. All the calculators I can find ask about things like equity release that do not apply and I don't know if the calculation they give will be applicable or not. My situation is: house costs £Z, I've got £X…
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If you are wondering whether to pay your ERC and remortgage now - please read this.
There are various individual factors that people have such as the length of their mortgage term, current interest rate and loan amount. There is a tool that takes all of this into account and provides an estimate of whether you would be better off after 5 years: https://app.nous.co/refix You have the option of changing the…
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How long to fix for?
Hi, I’m currently on a 2 year 3.79% fixed rate which finishes end of Feb 2023. I can pay a £900 charge to end the term early and can either move to a new 2 year fixed at 3.44% or 5 year fixed at 3.26%. Doing this is a no brainier given the way rates are likely going very soon. Which of the 2 terms would you move onto…
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Another post on fixed rates in light of recent news
We've currently got a 5 year fixed rate mortgage at 1.99% with Nationwide, with 1.5 years to run on the fix. And 21.5 years until paid off. We're paying £800pm. According to Zoopla our house is currently worth £280k. We currently have £169k outstanding on the mortgage. The ERC is currently £3.3k Overpayments are a max of…
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Have I made a mistake going through a broker
As with a lot of people at the moment I have been worried about my mortgage payments I initially got my mortgage direct from my bank afterwards seen so many articles videos etc online regarding how brokers have access to exclusive deals and can save a lot of money in long run my fix is up next year so I’ve been looking at…
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NatWest Mortgage Help
Hi all, My current fixed rate with NatWest runs until 31/03/2023. Would I be correct in saying they will offer a renewal rate on my mortgage, and it should show on my online NatWest mortgage account 6 months in advance (01/10) of the current deal ending? If I accept that it would be locked in from that date with no other…
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Pay ERC or wait a month?
My Natwest 5 year 2.04 fixed comes to an end on 1st May 2023, so from the 1st November I can change my mortgage as that will be within 6 months. The next BofE announcement is scheduled for 3rd November. The interest rate is bound to go up again, so I'm considering paying the ERC charge which is 1% (£585) and getting a 5…
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Charges/penalties AFTER a fixed rate ends?
I have a fixed rate mortgage which is due to end in July 2024. I'm working on a plan to either pay off the remaining balance in full, or reduce the term once the fixed rate ends. Will there be any charges or penalties for doing so? Presumably we would switch by default to our lenders SVR and be able to do so without any…
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Chances of mortgage offers being extended at the same rate - slim?
Our buyer's mortgage offer (equity release, if it matters) is about to expire and we've not managed to exchange yet (because her solicitor and the separate solicitor her lender appointed have been very slow, and her mortgage offer was only valid for 3 months anyway). We are hoping she has applied for an extension but don't…
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Adding Son / Daughter to Mortgage to extend term.
Not sure if this has been asked before, but if you add your son or daughter to the mortgage can you extend the term? Mortgage offer last year we could only get over 10 years due to age, but if I add my son or daughter to the mortgage would I be able to make it over, say, 20 years?
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Working out future repayments
My fixed rate deal of 2.79% comes to an end end of December 2022. My outstanding mortgage is £65000 with 7 years left and monthly payments are £651. I plan to pay off my mortgage exactly 12 months later, i am with Bank of Ireland . i am going to sit it out on a variable rate as its only a relatively short perid of time.…
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Mortgage rate peak
Just so I'm understanding this correctly....if they predict 6% peak mid next year that will make fixed rates roughly 8-9%? It's really annoying because if I get a new fix early and pay the ERC I'll save about £77 a month at 8% but it's only about £16 at 9%
