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Barclays purchase, remo and switcher rates going up tomorrow (12th October)
Barclays have just now notified brokers that they're upping rates from tomorrow across new-business and existing-customer ranges. Barclays allows brokers to 'reserve' a rate for a few days so if you have any applications ready to go or are mulling over a recommendation, get in touch with your broker so they can secure the…
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Porting Nationwide mortgage
When porting our fixed rate mortgage with Nationwide , we would want to keep the mortgage amount the same ( not borrow more or less) - do they complete a full mortgage check ( ie payslips etc )
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Can I lock in and pay ERC in 6 months?
Hello all, Feeling a bit bamboozled currently so thought I'd try to tap some MSE knowledge! My fixed rate mortgage of 2.14% with HSBC is due to end on 31st May 2023. The current outstanding balance is £113,000 thereabouts. It comes with an Early Repayment Charge if I was to switch provider early (I can't say exactly what…
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confused by settlement figure
I'm moving my mortgage on 1st Nov and my conveyancer has received my settlement figure from Halifax. The figures don't seem right to me so wondered if anyone could shed any light as to what it could be (I tried contacting Halifax but got a cut and paste response that didn't remotely answer my question) My current mortgage…
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Do I save or pay of the mortgage
Hello, I was looking for some views on this as I’m a little torn on the right approach. I’m fortune to be in a position that I have a really low fixed rate mortgage for the next 4 years, also I can afford to save. I’ve read Martins section over save vs. Pay off mortgage but it doesn’t make sense to me. The guidance is to…
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Husband and I disagree - fix or discount
We have £89,00 remaining on our mortgage, property value £350,000, term left 9 years. Currently with Hinkley and Rugby who have offered us Term of the mortgage discount of 3.94% off the SVR (£925 month) or 2 year discount of 4.99% off the SVR (£903 month). Both have early repayment charges only for the first 2 years. We…
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To get a mortgage or not
I’m a first time buyer and due to the increasing interest rates a mortgage would be costing us nearly an extra £200 a month. Just wondering what everyone’s opinions would be. Should we find somewhere to rent for a few years until the interest rate goes down or do we bite the bullet pay the extra each month if this is just…
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2024/2025 rates
Intrested to see what everybody else thinks the bank rates will be by this time. I’m still undecided with my situation to pay a 2.5k early fee and fix these rates atm as there’s a very good chance rates are hitting 5% next year. I’m thinking 5% base rate by 2024 so cheapest mortgages 6-8% what’s everyone else’s thoughts?
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Santander Mortgage - how long have people waited for a decision recently??
Hi So, we are existing customers porting our mortgage over to a new property (borrowing more). We have already sold... so have 3 months to complete on new property to get our early repayment charge refunded. We have used a broker. So far: *22/09/2022 Application received *27/09/2022 Advised Valuation had been done and…
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INTEREST ONLY REPAYMENT
Good morning, Everyone, I am looking for some advice we have a 10-year mortgage on a flat with only 2 years left on it and my husband and I are very shocked to have just realised that it is only interest only payments, so we thought it would be coming down slowly it hasn't been. What we want to know is what is the best to…
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New Halifax 3.6% 3yr Fixed Rate - worth going for?
Hi everyone, I'm currently on a 2yr fixed rate at 2.8% which ends in September 2023. As our LTV is less than 60% we've been offered the chance to take up their offer of a 3yr fixed rate at 3.6%. We can't decide on whether to switch as we'd be paying to leave our current deal (about 1.5k ERC) just to enter a deal which is…
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Thanks a lot!
Thanks a lot!
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Speech 07/10 by B of E MPC Member
https://www.bankofengland.co.uk/-/media/boe/files/speech/2022/october/dave-ramsden-securities-industry-conference.pdf?la=en&hash=6305ED9CBDC5519AE9DC4DD7A540F85F0D649A49 thought it may be of interest to people researching on what to do next as it gives an insight into his through process. ""Along with two of my MPC…
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Tracker - Am I nuts....
Evening all, We've just entered into the last 6 months of our fixed rate deal which is at 1.54%. After looking around at deals, it would seem most fixed rates are now pushing the 6% mark on a 5yr term, I've seen a 2yr tracker for 3.78% which is appealing in terms of keeping the monthly payment down. Downside is this will…
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Natwest/Nationwide/Barclays/HSBC - Who's best for a tracker?
I'm drawn to NatWest, but they have ERC of 0.5/0.25. Nationwide/HSBC seems a little bit more expensive but with no exit fee. Barclays don't do execution only...which is annoying, as I cannot tolerate hour after hour on a call with a mortgage advisor. 60-75% LTV. Anyone any thoughts on these lenders?
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Property value - how to use the mortgage best-buy comparison with two individual loans
Hello, I currently have two separate borrowed amounts for my mortgage as we ported when we moved and took on additional borrowing with the same lender when we upsized. Both of these amounts borrowed have different interest rates and end dates. When using the MSE comparison calculator, how do I calculate the LTV? Does the…
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Porting mortgage with Santander
We have a mortgage with Santander which is coming to an end next April. Our house has an estimated value of £825000 and we have a £320000 mortgage so have just over £500000 equity. Our situation has changed since we took out the mortgage 4 years ago, we did a lot of work to our house so have about £30000 in loan/credit…
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Mortgage deed - postcode missing from the address of the witness
I am in the middle of a house purchase. I have signed the mortgage deed (for Natwest) in the presence of a witness. As part of the form, the witness needs to put their address and signature. I have sent this document over to my solicitor, but I have only just noticed that the witness didn't put their postcode in their…
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Nationwide porting mortgage
We have 3 years fixed of a 5 year fixed with nationwide. Due to personal reasons we want to sell and repurchase another house. How does porting working in terms of finding another property. For example we have had house valued and confident ot would sell quite quickly ( on location and we can take a lower offer than what…
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Drawing mortgage funds down before exchange?
We will hopefully be exchanging and completing soon, our solicitor has brought up the option of drawing the mortgage funds down first before exchange and completing within a day just as a safety measure with all the upheaval with mortgage products being pulled and so forth. Or we exchange and wait 5 full days to complete…
