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Can I lock in a refix early and pay ERC when it takes effect?
Got about 95k outstanding on mortgage with Natwest. I've heard you can lock in a fix up to six months before current deal ends with Natwest? But my current fix runs until Dec 2023, so 15 months away. ERC will drop to 1% from Jan 2023, which I'd be willing to pay to get another fix earlier. But is is possible to lock in a…
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Buying with 2 title deeds using 1 mortgage - Which lenders?
Hi all. I hope someone can help as we are at wits end. We viewed a property which is up for sale (its 2 semi detached houses joined and for sale together) house one is a regular size downstairs but then takes up the full upstairs of both properties leaving property two as a ground floor self contained flat. We were looking…
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ERC should be 1% in final year of 2 year fix ?
Hi all, Like many i am considering what to do re mortgage rates. My current 2 year fix @ 1.29% ends 31 August 23 ( with Barclays so i thinks it will be end March 23 before i get advised of switchover rates online ) My current balance is 66,544.xx , but my ERC is still showing at 1330.xx which is about 2%, i assumed it…
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Switching now - no brainer?
Our 5 year fixed term is up on 30th September
2023 (currently 2.64%) I checked our account online and currently the ERC is just under
3k. However, as of Saturday, we will be in our final year so I
think this will drop to just under £1500 (1%) I had a quick look and we can get a 5 year product switch fixed
at 3.74% Is it a…
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SMI loan interest rate change
Hi, Does anybody know when the SMI loan interest rate of 2.09% will change and by how much? I’m severely disabled and facing repossession if nothing changes soon.
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Just done a product switch
Hi, I owe £90k on my house (worth approx £275k). My fixed term mortgage ends with Nationwide on 31st Oct, I have been fixed for 5 years. In August I decided to stay with Nationwide and do a product switch which is effective from 1st Nov. My interest rate is obviously higher than it was previously but I'm happy with that.…
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Previous home owner
Hi, I live in Scotland and previously owned a home with my now ex. Following split my ex bought me out. My husband was previously a home owner too however the property was repossessed following split with his ex. We have been renting for the past 10 years. We are desperate to buy a home however with 2 kids and some debts…
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Mortgage Overpayment - Rental property or own home?
I have a rental property with a mortgage of £89k (valued at £145k) on a fixed rate of 2.75% for another 2 years. My house also has a mortgage of £188k @ 1.5% for another 3 years. I currently overpay both mortgages but am considering whether to pool the overpayments onto just one of the properties. Would it make sense to do…
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Greedy Mortgage Company
My mortgage is with Heliodor Mortgages (Passed over by NRAM) the interest rate has increased 5 times since 1st February 2022. The rate went to 4.29% then 1st April 4.49% 1st May 4.64% 1st August 5.14% and now from 1st Oct 5.74% I have an interest only mortgage of £407.000 and still 9 years to go. The repayments have…
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Should I pay to end my fix early?
I currently have £165,000 left on my mortgage which the current fix rate of 2.34% ends in September 2023. I can see rates of around 3.7% still available for 5 or 7 years. I would need to pay £8,200 early repayment Charge. Likely I would need to add this to the new mortgage. I have calculated my monthly payments will be…
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Should I switch from a low fixed rate now?
I’m currently still in my 2 year fixed rate mortgage, due to end in June 2023, so 9 months away. It’s £757 and I’m overpaying an extra £100 so £857. Should I switch to a new mortgage now, and forfeit the low interest rate I currently have for today’s interest rates, or should I hold out and switch nearer the time? I’m…
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Which banks offer a rate 6 months in advance?
My fixed rate mortgage is up in 6 months' time. I would like to try and arrange a rate as soon as possible; does anyone know which banks offer a rate up to 6 months before the actual remortgage date? Thanks
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Redemption Statement
Due to complete my remortgage on 30/09 but the solicitors dealing with it have yet to receive the redemption statement from my existing lender (HSBC). Is this normal to leave it so late for the redemption statement to arrive? And is there anything I can do to hurry HSBC along to make sure there are no delays?
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Help to buy timeframe question
Hi, my current mortgage deal ends at the end of Feb 2023 and I'm looking to start the process of remortgaging and also borrowing more to pay my help to buy off in full. As with the interest rates rising I want to get on with this now, how long ahead of schedule can I sort the help to buy aspect as I know if I say got a…
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Safety of an agreed remortgage
Hi all, new here! My current fixed rate mortgage deal runs out in January and when I saw the way the world was going in July I went to a broker and arranged to remortgage with a new lender (my existing lender wouldn't let me look at rates until September) at 3.32% for 5 years. I have gone through all of the processes; my…
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My mortgage interest rate calculations
Hi all, thanks in advance for any pointers in the right direction! I'm a bit confused at the figures on my mortgage documentation based on rate increases. Like many I've been looking into potential interest rate rises as the point of re-mortgaging and the figures on my mortgage offer are quite concerning! I currently…
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Another fixed rate mortgage question
I have a fixed rate on £285k of 1.63% until October 2024 (at which point will have 15 yrs left) Early exit fee is £8580. At the moment I am resigned to the fact i will have a worse rate and think i could manage on 4.25 - 6% max. My view is I should stick it out for 2 years and clear all other debts i can. further, while…
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What to do? HSBC mortgage switch
A quick question re a HSBC mortgage. We currently have around £57k left to pay over a 13 year term. We are on the no more than 1% above base rate mortgage at the moment so 2.75% . I have just checked and I am able to switch to a 5 year fixed at 3.93% . With all the news about potential rises I feel we need to fix now. The…
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I'm terrifed! Like many!
Our 5 year fixed term (Nationwide) ends next September and we can only avoid ERC in the 3 months prior, so July. We don't actually know if we want to remortgage as I didn't realise you need to go through all the conveyancing again but depends what deal we get. Regardless, I am absolutely terrified of what the rates will be…
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2 Yr Fixed Rate vs. Tracker
Good Morning - hoping someone can help. We are coming to the end of our 5 yr fixed rate (1.84%) in Feb 23. We have been offered a few deals by our exisiting mortgage provider (assuming they haven't pulled them!) and we are considering either a tracker at 2.06% above SVR or a 2 year fixed deal at 4.08%. Clearly, interest…
