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Mortgages & endowments

Archives for October 2022

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Rate rises?
What’s everyone’s thoughts on the next two BOE rate predictions? Will they rise or are they starting to fall? Have just today secured 3.79% fixed for 3 years with Halifax (existing customer) but had to pay £1172 ERC. Still works out cheaper overall than current fixed rates out there? Do you think I did the right thing? Am…
Nationwide rate-switch: Some existing-customer rates going down from tomorrow
Nationwide is reducing some rate-switch (PT) and additional borrowing rates from tomorrow for existing borrowers. So if you booked a rate-switch in recent weeks that hasn't kicked in yet, it might be worth reviewing. See here for details. They also appear to be tweaking the PT window down to 5 months from 01 Nov and 4…
Mortgage Completed but Issues Remain
I had a mortgage with the Bank of Ireland, on the 1st of August I changed my postal address and on August 12th I paid off the balance of my mortgage. The process was difficult to complete, staff were not comfortable with what I was doing. I was then advised of additional mortgage setup charges that I needed to clear before…
payday loan definition and dates relevant to mortgage application
Ive been researching mortgages after a payday loan and looking for some advice. I took a loan with dotdotloans, over 9 months, and didnt think this was what a lender would call a "payday" loan. Then went off and did some research on lending criteria etc, and can only find one lender who specifically states what a payday…
New fixed rate or variable?
My 2 year fixed rate of an amazing 1.34% with TSB is coming to an end in 30 days. It's a sub account of a three part mortgage with TSB with the other two parts being on very good fixed rates so doesn't make any sense to move entire mortgage to another provider. 13 yrs left on the mortgage. Latest deals with TSB are: Fixed…
Overlapping mortgage payments on moving house
Hi all, I am due to complete on buying a new house on 4th November. For the current house I am in, the mortgage payment comes out on 1st (so would normally come out on Tuesday). However, for my new mortgage, the first payment is to be made on the 15th of the month following completion (so assuming 15th Nov), and then the…
Offset mortgage with early repayment charges
There seem to be off mortgages with early repayment charges on the market. I'm trying to get my head around these. Say, hypothetically, if you had £20,000 left to pay on a mortgage and you won an amount of money on the lottery/premium bonds etc you would have enough to pay off the remaining £20,000. If you then paid the…
Confusion about mortgage overpayment
Hi there, I have overpaid my Halifax mortgage like a week ago but the monthly payment /the remaining term has not changed yet? Do I need to call Halifax to adjust it? which one is better ? (reduced the payment or the term)? Another questions please. If I overpay say £5000 in Jan 23, can I ask Halifax for the amount back…
Confused about overpaying mortgage
Although I've always overpaid on my mortgage, I'm a bit confused about this now, since I took out a new one two years ago when I moved house. The term was 17 years (now 15 left) and it's a 10 year fixed so we have been overpaying with the intention of clearing it by the end of the 10 years (now 8 years away). The confusion…
NatWest Dip
If I have had a NatWest dip accepted (not through broker) how likely is it to go through some adverse on my account but wouldn’t that be picked up at the initial search? Thanks
DIP accepted - Nationwide willing to lend but concerned with CCJs
Hi Everyone, I need some advice please, I am looking at buying a property with my partner we have a LTV of under 80% - I have 2 ccjs that are combined under £500 from private carpark companies. The oldest ccj issued was in January 2019 and is unsatisfied. The most recent ccj issued was in Feb 2020 and is unsatisfied to the…
mortgage options/porting advise please
Hi all, looking for any advise you can give re our situation. We are looking to move house, been on the market a day and have a viewer tomorrow. Seen a house we like. All good. Our mortgage is in my name, it was my house before we married. We owe approx £70k and are not looking to borrow any more, in fact it could be less,…
CMI Mortgage over charges error - caused arrears and repossession action - Urgent Help please
Hi I am hoping someone can help me as my Lender Birmingham Midshires (part of Bank of Scotland) is taking me to court for the 3rd time for Repossession due to Arrears left on my mortgage following an 'over calculation error in CMI interest charges' in 2016 which then said I was approx £32,000 in arrears!! In 2018 they…
Early Repayment Charge - what to do
I'm a little bit confused by HSBCs ERC and hoping someone can advise. As you can see, our fixed rate is due to end in March '23, and given the rates of interest, I've decided to lock in a new rate now. That's at about 5.5% for 5 years. I've overpaid by the allowed 10% this year, and as soon as I take out the new deal I was…
Bank did valuation based on value of loan requested, not estimated value?
Had a beatdown of a day. I received an email from NatWest this afternoon saying "good news, your mortgage application has been approved" - very excited, I told my wife and we hugged, etc. However, upon reading the attached loan offer, the offer was for £231,000 - £49,500 less than the £285,500 we applied for. The loan…
Halifax charging YOU ! for calling their mortgage advisors.
Just a heads up. I recently had to call Halifax to organise a product transfer on my own mortgage. I had to speak to an advisor on a number beginning 0345. This number was emailed to me as the contact number for the advisor and nowhere in that email does it say that calls are charged to that at 8p a minute from a landline.…
Barclays Tracker Mortgage?
Hi all, I’ve some questions about Barclays tracker mortgages. I see they offer ‘switch and fix’ for their tracker rates. Do any of you have experience of it and know whether this apply to their both their no fee / with fee tracker range? And with this 'switch and fix' I go with a 5 year tracker, and at some point within…
Help! Solicitor not on panel
Hi, I submitted a full mortgage application through my broker 5 weeks ago. The lender is Kent Reliance. Prior to the application my broker requested and was given my solicitors details, they told me to go ahead and instruct and start the process of purchase which I did. I've now paid almost £1000 in solicitors fees on…
Are you in a chain and are you confident you will all complete?
My neighbour in Greater London tried to sell his flat a few months ago in summer and locked down a low mortgage rate. He accepted an offer from a buyer and had an offer accepted on a new purchase himself therefore entering a chain. A few weeks later in September his flat got down valued considerably by the valuer and after…

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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
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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
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
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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
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
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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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