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Question about porting / checks etc... ?
Hoping some advisors or members can help. I know when I remortgaged / renewed my deal recently with the same lender ( virginmoney ) they didn't need to do any checks or anything, they just moved me from my old deal to my current one and it was all straightforward. How does it work with porting when moving? I would be…
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Re Mortgage Approach
I am within 6 months of my mortage fixed term expiring. I have agreed to fix for another 2 years with my current lender at just below 6%. Which is high. But I can cancel this switch rate at any time with no fee to me. Therefore closer to the actual remortgage date I am planning on seeing what better deals there are either…
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Overpayment question to clear my mortgage early
Thank you in advance for your responses. The more I am learning about mortgages the more I discover that I don't know a thing and that if I (and the public in general) had all the info from the start we would save a lot of money.Sorry it it is a long post. Anyway, I was lucky enough to be able to switch my mortgage which…
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Preparing finances for a remortgage
I have about 10 months to go until I need to remortgage and am looking to do a "spring clean" to make myself an attractive borrower... To hopefully get the best rate I can. I have access to circa £25k in credit via credit cards and overdrafts. No debt, i.e. zero utilisation. Very rarely use them (only sometimes to get that…
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Mortgages after a separation
Hello all - hoping you're well. I'm looking for some kind advice. Me and my husband have recently made the very sad decision to separate. No ill will or bad blood between us, just "one of those things". We are fortunate enough to own two properties together - our first home which we lived in for 7 years and is now rented…
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Offset mortgage decision drama! Advice please?
I currently have a fixed rate mortgage at 1.89% coming to an end on 31.01.23. I have approx 217k outstanding, and was ideally looking to borrow more say around 245k but this is not absolutely essential. I have about 130k in savings to offset, most of it in an ISA tax wrapper. I am deciding next steps, and although I liked…
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Took out contents insurance for current place before completion - will it look bad to the bank?
I’m in the process of buying a house. The process has been dragging on, and I thought it’s likely it will go into the next year. Over the weekend, I took out contents insurance for my current place, as the previous one had finished. I chose to pay it in monthly instalments out of habit. Yesterday, things moved quickly and…
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Changing a mortgage before it starts
Good morning Apologies if this is a basic question. I am potentially looking at moving house in the current months. Is it possible to apply for a mortgage now in case rates go up over next couple months. I believe I need to have a mortgage in principle to make formal offer on house, but is this an actual mortgage offer? If…
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NatWest mortgage - indemnity policy
Hi im just wondering if anyone could advise or has been through something similar. We are at the final stages of buying a house due to complete on Friday. However our solicitor has informed us that due to the property being leasehold and the landlord being unknown ground rent hasn’t been collected, the solicitor has set up…
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redemption fees
Good evening. Can anyone please advise me on redemption fees. I took out a second charge loan to do some building works. The loan was sold to me as a commercial loan which I didnt know and interest only on a variable rate which I was aware of. The company Together are the worst mortgage company ever. Never contactable by…
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MSE News: Secured a mortgage rate that can now be beaten? You may be able to ditch it
If you've locked in a fixed mortgage deal that can now be beaten, check if you can switch penalty-free. Where the new rate is yet to take effect you should be able to cancel for free – though there are some exceptions. This may help those with expiring mortgage deals who fixed a new one while rates were at a high but who…
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Extra borrowing on mortgage advice
So the time has come where my house needs some tlc and to finance it I need to borrow on the mortgage. I know it’s the wrong time to be doing this with borrowing going up etc, however the quotes I am getting add up to around £50k which includes new bathroom and kitchen, all of which will be taken out on our mortgage. I…
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What mortgage rate would you be happy to fix at following the budget?
Interested to see what people would feel comfortable fixing their mortgages at for 2/5/10 year deals (following the recent budget, BoE statement regarding interest rates potentially only hitting 4.5% and the continued inflationary pressures.) Appreciate current rates are not ideal. But hypothetically, what rate would sway…
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Mortgage interest tax relief for main property?
my mortgage is about £24,000 a year, which roughly £11,000 go to Principal and £13,000 is in interest. Can I claim the interest on my tax return for my main property? FYI I'm on the second year and dind't knew anything about this.
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Remortgage advice for desperately needed home improvement
Hi, My little boy has ASD and we desperately need to make some adaptions to our home for him. We have a mortgage and our property is worth 202000 and we owe 130000 would it be possible to remortgage to release enquity to do our home improvements? Have a few months of fixed rate left. Is there enough equity? We want a part…
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Increase deposit when re-mortgaging
In January 2025, my fixed-rate mortgage will end and I suspect I’ll wish to re-mortgage with a higher deposit – i.e. put my savings into my mortgage. If I choose that approach, then when would I be required to transfer the money to the new mortgage provider? Would it be on the first day of the new mortgage, or sooner? I…
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Mortgage on benefits
I’ve just had a bizarre conversation with someone who claims you can get a mortgage on benefits. Is that true? If that’s the case, then where is incentive for people to work?
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Over Payments not being taken into consideration
Hi 19 years ago I took out a capital self certificated repayment mortgage, but after a couple of years I had to switch to interest only as I was self employed and going through tough times. Like an Idiot, when things improved I never switched back to repayment. A few years ago it dawned on me, I had about 8 years left and…
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Process for turning joint mortgage into solo mortgage with no transfer of equity?
I currently have a joint mortgage with almost no equity in the property, as it was recently purchased based on a very high LTV. If my partner and I split up, how easy is it to transfer the mortgage into my name only, if there is no transfer of equity (she’s happy to just walk away from the mortgage with no payment)? Is it…
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Additional Borrowing - Crystal Ball Needed!
I'm after some thoughts from others please. I'm in the process of talking to my current mortgage provider (Coventry Building Society) about some additional borrowing for home improvements following a sale which has unfortunately fallen through. I currently have a very good rate for our main mortgage which is fixed until…
