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Mortgages & endowments

Archives for October 2022

Have i ruined my future? Help me feel better?
Hi everyone! :) First of all sorry for the wall of text, but please bear with me. So i'm currently going through the first time buyer process, with a help to buy mortgage through a specialist adverse lender due to fair/poor credit and a few missed payments on file. Anyway, i got the formal offer and exchanged contracts a…
ERC and Treating customer fairly
Our 5 year fix comes to an end next June and on 1st Dec we can get a new rate. Seeing everything hitting the fan in Sep we decided to pay the ERC (which is huge) and secure a lower rate. Due to a bank error the offer came in last week. In the meantime my husband was told he has to have fairly major surgery so reluctant to…
Platform Tracker Mortgage offer understanding
Hello, I have recently been offered a Platform 2 year Tracker Mortgage which is at 0.99% above the "Platform Base Rate". I've done some research but I can't find out if this base rate is always equal to the BoE base rate. On their site is says directly linked, but does this mean they are able to add on to the BoE rate and…
Renegotiating price after mortgage offer
Good Morning I am in the process of buying a house and have a mortgage offer. I had a survey done and found a few issues, some which are more costly. So I am negotiating the house price to reflect this. Given the recent market turmoil, I am worried about the mortgage offer - my offer was from before the recent increases in…
Tracker rate query
Hi, I'm new to trackers and have a query.... Our tracker is 0.9% plus the Bank of England rate. Were in a 2 year tracker with nationwide. Can the 0.9% part change at all? Or will that stay the same for the two years? Ive read things online that say it won't but equally I've read other confusing things online! Thanks so…
Where to put where
Forum newbee here, and I joined because we’re really not sure what to across a few finance products we have, (the biggest of which hopefully understandably are our mortgages). We have: £370,000 mortgage at 2.94% fixed for 5 years until 31/10/27 £67,000 mortgage at 1.59% fixed for 5 years until 30/09/25 £7,100 Halifax Car…
NatWest mortgage approval with 6 month fixed term employment contracts?
So our full application has got to the point where they want more info. The underwriter has said the application is accepted depending on a few details from my partner. We gave them what they wanted and they came back again questioning partners salary as he’s had an increase since application was submitted - they have also…
Early Repayment fee but fixed rate ends
Hi i am changing my mortgage from Accord to HSBC as my fixed rate ends on 31st October so I assumed I wouldn’t have to pay an ERC but on the redemption letter accord gave charged me £1018. If I jus5 wait until 1st of November will I get away without having to pay?
Parents can't afford their mortgage: Release equity v's Taking on the mortgage myself
I'm looking for some advice as I don't really know where to start. My parents are in their late 60's and still have a mortgage. They have been paying interest only for some time now with the plan being to sell up once they were both fully retired and downsize. However, due to health reasons (dementia), this is not really…
NatWest product switches - rates going down
NatWest is reducing rates on some PTs from tomorrow. So if you've reserved one recently that is yet to kick in, please do check and see if it's worth reviewing. Please note that this is only with reference to broker rates and may or may not apply to direct PT rates. Please see here for…
Mortgage Advice
This is pre mini budget: I had a offer accepted on a house in the region of £350k. We have the 10% deposit in savings. Our current house I own with no mortgage. Planning on renting it out. 3.99% fixed with broker with HSBC. (5 years) 4 weeks after submission of mortgage application HSBC advised they want 20% deposit not…
Equity Release. Do I cash in? Inheritance ?
My mum remarried approximately 20 years ago. At some stage she added her husbands name to the mortgage which has now been paid off. She has now been diagnosed with dementia and was diagnosed in possibly 2018. In 2017 they took out (her husbands idea) equity release on the property and never told me. My mum has no idea what…
Should I overpay or save?
Hi all, I hope you can help. I am normally pretty financially savvy, but I am a little confused here. I have a new mortgage starting 1st Nov. We are in the lucky position (at the moment) to be able to overpay. I'm trying to understand if I should overpay monthly or save and overpay in one lump sum. I have tried the…
Actual 2 year fixed term length shortened
Just want to flag/check if a 2 year fixed term (for example) can normally be cut short by a few months? Is this common knowledge?I got an offer from HSBC via a broker in December 2019, and then completed on the house and drew down the mortgage at the end of March 2020. So I thought I was ok until then with regards payments…
What is cheaper over two weeks?
£145k balance, currently 1.44% going to 6% (SVR) for two weeks before a new deal (4%) on 16th July or pay £290 fee on an additional borrowing account that just has 1k left in order align days to 30th June. Main balance deal finishes 30th June, additional borrowing deal finishes 16th July.
First mortgage payment
Hey all. we are completing on Friday 😊😊 our mortgage payments are set for the 1st of every month, Iv read different things for first mortgage payments, but genuinely that it’s a month later, so will ours be 1st November or 1st of December?
Lender (Santander) requesting a second valuation?
Mortgage reached completion centre and everything had pretty much been accepted however we’ve been notified that due to market changes the lender (Santander) wants to book another valuation. first valuation completed in August and it was fine. is this a common?l occurancd
Up front ERC being demanded - why?
Barclays existing customer - moving to fix ahead of end of current rate July 23. Whopping ERC of 13K - but not allowing us to add to the loan and want it up front by next week! Why? Just because they can and have plenty of applications to work through?
Buying my Mum's house
Hi, hoping for some advice please. I would like to sell my house, and buy my Mum's house, which I would then live in with my children and my Mum. My Mum is 78 years old and I hate the idea of her being alone in the house. I would not be able to pay market value, I can afford £140,000, the market value is £180,000. I have 2…
Remortgage / land reg problem Scotland
Hope someone can help please. We are a couple of months through a remortgage on a BTL. Things have moved very slowly. Now the solicitor for the new provider are saying they need "a plan" for the land registry at a cost of nearly £500! The one they got was not coloured so the flat could not be identified, we sent the…

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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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