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Interest only mortgage question
I owe £75k on my mortgage; my house is valued at around £240k. Im 57 and have 11 years left on my mortgage but due to ill health I may need to work less soon.I would like to switch to an interest only mortgage indefinitely to keep my outgoings down so I can afford to stay in my home. My plan would be to sell up once my…
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Lump sum - existing mortgage or wait?
Hi all, I’m looking for some advice as I can’t decide what is best to do, I have a mortgage for £150,000 on a fixed rate of 1.62% ending next October. I had a decent chunk of redundancy money (£75,000) a year ago which I’ve had in an ISA, so crap interest rate. I’m hoping to look to move house in the next year or so, just…
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Fixed or Tracker?
Hi, I'm buying a property and was going to go with a 2 year fixed rate from nationwide. It's 5.74%. it works out £1515 a month. Due to the latest forcasts not being as bad for the next 2 year as they were a couple of weeks ago I'm now considering a tracker at BoE+0.99%. This works out £1222 a month. What are people's…
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Halifax existing customer rates?
Is anyone currently dealing with Halifax at sub £150K as an existing customer? Just wondering what rates they are now giving 🤔
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Issues porting ?
Just wondering if anyone has experienced and issues porting a mortgage to a new property- I.e. being declined on affordability even though borrowing no more and no change to earnings since the mortgage was taken out.
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How will next weeks autumn speech affect mortgages?
Will next week's up coming autumn speech affect mortgages positively or negatively?
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To track, or fix, that is the question.
Brass tacks for 2x remortgage options that have been presented to us on an 80% LTV: Option 1) 2-yr tracker - A 2-year tracker rate @ BoE (3%) + 0.49% (3.49%), which starts in Apr 2023 to Apr 2025 --- 5.30% APRC --- 5.49% SVR Option 2) 5-yr fixed - A 5-year fixed rate @ 5.29%, which starts Apr 2023 to Apr 2028 --- 6.10%…
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Received mortgage offer but rate has just dropped, can I change?
I received my mortgage offer from Nationwide last week at 6.5% fixed for 3 years. I’ve checked today and the rates have dropped to 5.99%. is there anyway I can change my offer to this new rate? Or does anyone have any advice on what I should do? The new rate would save me around £70 per month
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Base rate to peak at 4.5% in May 2023 will rates will then fall in 2024
Hi Folks I know no one has a crystal ball and likely to have a labour govt in May 2024. I am on a fixed rate of 0.89% until May 2024 anyone guess what fixed rates will be by then, labour govt might worry bond investors and keep rates higher then necessary but if 2023 is bad for house prices and a severe recession the bofe…
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Base rate
Hi, I am with Natwest and taken out a re-mortgage with then at 6.1% around £200 more each month, but it don't go into effect until next month. I was advised that it could come down and to ring up come closer to the time to see if it has and they will put the updated offer to me. How would i check this if id does happen…
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Mortgage broker
Hello I would like to have your opinion regarding my situation and the broker behaviour. In August we got an offer accepted on a house and applied for mortgage with nationwide through broker. Before the offer was issued seller pulled out so broker cancel the application. when we found we found the next property we are…
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text obsolete please remove
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Is there a penalty if I pay off the mortgage at the end of the fixed term?
Hello Everybody I hope you can help me on this, I am holding a fixed term mortgage. The rate is fixed for 5 years ending 2025. The mortgage contract ends 2035. The contract does allow me to early repay 10% every year. I want to ask at 2025 when fixed period ends, Can I repay all the rest? will there be penalty? Many thanks…
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Chances of getting a mortgage with 5 year CCJ and 2x 2 year old defaults
Hi everyone, sorry in advance for this to be so long winded. I just wondered if anyone had got a mortgage in a similar situation to what I’m in. I have 1x 5 year old ccj and 2x 2 year old defaults. I have no missed payments in 4 years. Those defaults were double defaults were older but were added again later when the debt…
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Time to remortgage after offer?
We have had a remortgage offer from Kensington. Already had valuation, done all the online id checks. How long do these things they normally take ? Need to pay off Nationwide mortgage and Nemo secured loan, and as son is 17 know he needs to complete something too? Just trying to work out whether we should start talks with…
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Chances of remortgage
Just wondering what chances of remortgaging would be releasing 20k equity and what TL rates might look like. Value of property 210k mortgage remaining 94k 1 missed payment of store card a month ago CCJ satisfied, though not showing satisfied on credit report. Have letter confirming paid and is 5.5 years old. currently in…
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Customer Retentions for Mortgages?
I've secured an offer to re-mortgage with a different lender at more favourable rates than my existing lender has showing for their switch rates. I was just wondering if there was ever any movement on rates (matching offer or near) in order to retain existing customers or if this is not a thing with mortgages?
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Mortgage offer incorrect information
We received our mortgage offer, but there are some discrepancies. There are some special conditions that we must fulfil before completion: -pay off Virgin credit card balance- we do not have this card, we have a Barclaycard only. I think this is their error with the name of credit card provider -pay off outstanding loan of…
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Interest Only Mortgage
I took out an interest only mortgage in August 2022 with a partner I have had this mortgage for almost 22 years on my own prior to this. I have just called the mortgage lender to ask if I was able to port this product on my own to another property. The answer was yes but I would need to fulfil their criteria. Criteria…
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Mortgage term ending - pay off lump sum or save it?
Hello. I have a 2 part mortgage. One for £143,000 recently fixed for 5 years at 3.94% (16 year term). The other part is £135,000 - fixed term and is currently at 1.94% and that runs out in February 2023 (14 year term) . I am in the fortunate position to have £20,000 I can use as a lump sum payment to reduce my mortgage (by…
