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Debt before remortgage query
I have a mortgage with my ex-partner on the house I currently live in. He moved out about eight years and I have paid the mortgage since. We are amicable, and next year he is coming off the mortgage, and I’ll be applying for a sole ownership with the current lender (HSBC). I have six months to get my accounts looking good…
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Interest Free Mortgage Ending Next Month - Options?
Afternoon Everyone, just looking for a bit of advice. My father has a property with an interest only mortgage which expires next month. He rang the bank to extend for another 12 months, as I am selling my property and want to buy it, but they said you can't extend it now.(They did say if we phoned up two years ago to…
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debt repayment before mortgage completion
Hello, I agreed to pay off one of my credit cards when i applied for a mortgage. I have exchanged already but I've paid off the wrong one. Will that matter, will they look at the credit card name. or just the balance I agreed to have left owing....
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About to pull trigger on ERC.... Good idea?
Hi I have two loans on mortgage (one up in May 23 and other Nov 23). Current rates around 2.7%. Can pay a £2400 ERC now and fix in for 3 years at 3.69% or wait and see... Payments going up from 619 now to 689 a month. A good idea? Feel like things will explode next year. I have 23-24 years left on mortgage overall.... Feel…
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Have I got my interest payments right, and question about overpaying
Hi £150,000 morgage over 35 years, fixed for 10 years at 3.08%. Is this right please? First month of the mortgage repayment, with an interest rate of 3.08%, if you pay £600, £385 of that is interest, so you pay off £215 of your actual mortgage leaving £149,785. Then the next month, you pay 3.08% £149,785, so the interest…
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Tracker or Fixed?
I am currently on a tracker at 0.84% above base. I have today been offered a 2yr fx by my current lender at 4.19% with a £995 fee or 4.5% with no fee. Is it worth taking this? I have no ERCs to leave. My thinking is that by end of the year the base rate is likely to be close to 3% if not higher and then the fix isnt…
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Do you tend to use a FA or go direct?
Over the years I've only used a Financial Advisor twice and the majority of times have always gone direct with the lender. Just wondering whether other people tend to go direct and investigate and sort it themselves or use a FA? I can understand if you have complicated or unusual situation using a FA but as 99% of ours…
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HSBC rates going up tomorrow (14 Oct)
HSBC have just now notified brokers that they're upping rates from tomorrow across new-business and existing-customer ranges. With HSBC you can only secure a rate at full application so if you have any HSBC applications ready to go or are mulling over an HSBC recommendation, get in touch with your broker so they can submit…
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Do I pay the ERC or wait until February?
Good morning, I am sorry this has probably been asked over and over but here goes. My fixed rate ends in April. I am told by Halifax that I can remortgage without ERC from February before would be 1% of the mortgage being £1,699. Do I pay this and get out early or look from next month and try to secure a 6 month offer…
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When to overpay question
I'm hoping someone can give me some advice on when to overpay my mortgage. I currently have a fixed mortgage with Barclays at 1.44% which is due to end May 2023. I have some money put away to overpay my mortgage (10% of my remaining balance as per banks guidelines) but I'm wondering when it is best to use this lump sum to…
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Preparing for first mortgage, adverse credit
Bit of a long one so thanks in advance for your time and input! My partner and I hope to able to buy our first home together (both FTBs) in spring/summer 2024, so we're planning ahead and want to get ourselves in the best possible position. Background:His credit history is clear with no defaults etc and he uses a couple of…
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Personal mortgage application
My daughter made a direct application to NatWest for a mortgage around 3-4 weeks ago. Rate 3.9%. She had an offer accepted on flat at £330K. She has £50K deposit and wanted a £280K mortgage. Natwest have carried out an on-paper valuation at £300K and say that because she made a personal application (rather than through a…
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Helping Daughter with Mortgage Overpayment
I guess this is a no-brainer, but I am thinking it might be prudent to help my daughter with an over payment on her mortgage. She currently has two more years on her low rate fixed Halifax loan at which point we can only speculate as to what the new interest rate will be. She is allowed to make an overpayment of up to 10%…
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Revised mortgage offer timescale - Barclays
The bottom of my chain is getting a revised mortgage offer through Barclays. Anyone have any experience on how long this usually takes? We are near completion with dates running out on mortgage offers. thank you
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Advice on downsizing / porting please ?
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Increasing Mortgage Term - have I understood correctly?
Hi all, I'm currently on a fixed mortgage ending in May 2023. I pay £700 a month currently, the interest rate is 2.14% and remaining term is 16 years with £113,128 left to pay. I've been advised by my current lender HSBC that I can increase my term to keep the monthly payments comfortable. So, rate from HSBC is 5.14% on 5…
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How are people actually coping with mortgage payments increasing?
Mine, is without a doubt, practically doubling when I renew....but my mortgage payment is small, circa £600 a month up from £370ish. I dread to think if your mortgage payment is £1k and its suddenly £1.75k a month or god forbid around £2k to £3k. Just wanted to hear what people are doing to support themselves.
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Delayed completion-question on the process now please
Hi all, Thanks to those who gave me advice on my remortgage with HSBC. We’ve now had our offer through at the rate we agreed a few weeks ago so are really grateful to the brokers for pushing it through when they did! So my question now is because we want to delay completion until next Feb, what happens now? I’ve been told…
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Retail price index September?
With my house being shared ownership the rent side of my outgoings is decided by the RPI. The figure is due on the 19th but does anyone know if anyone has taken an educated guess? It was 12.3% in August. I was hoping it will be no higher that 14% this month.
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Paying off mortgage at end of mortgage deal
I have talked to Natwest and want to double check what I have been told because I found it surprising. Background: I have £103,820.04 remaining, 14 years, 1.74% fixed ending 31/03/2023. I have enough savings to pay off the mortgage. Please confirm that: 1. I can pay off my mortgage without any Early Repayment Charge at the…
