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Temporary switch to interest only mortgage, is it worth it?
I wonder if somebody could help please as I have absolutely no idea where to start with working this out Could anybody please work out how much we would pay for a temporary seitch to interest only on our mortgage for a period of 6 months & then what we may pay afterwards. Not even sure if its possible to work out tbh! But…
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Remortgage or Tracker Mortgage
Sorry for the dumb question, this is my first time buying and selling a property. I took a 2 year fixed rate on my current property in November 2023 so I assumed it would end this November. I spoke to my mortgage broker and told them that I would like to sell and he told me that my mortgage ends July 31st this year. My…
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Mistake on credit file, will Santander reject my mortgage?
Hello FTB here. I got sale agreed on a house and applied for a mortgage through Santander, house has been valued and all going well until Santander asked for an Experian credit report (I use equifax to check mine) long story short, it turns out virgin media have been reporting to Experian that I am in arrears with them,…
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Help please
Hi, I need some advice please. I have a 10 year fixed mortgage at 2.34% with 5 years to go, My original mortgage was for 145k on a purchase of 225k. My outstanding mortgage left today is 91k. My current house has been valued at between 280k and 300k. We are looking at downsizing to a smaller property. I have checked and my…
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Extra capital payments query?
Hi all Just trying to understand some figure with my mortgage. I'm with Monmouthshire building society. I pay £590 p/m repayment mortgage. If I pay an extra £100 p/week. They said I can either reduce the term of my mortgage or decrease my monthly payments. Is one route more lucrative financially than the other? (or will i…
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Early Repayment Charge
Hello! I am completing on my house sale on Friday, unfortunately I’m completing before my mortgage deals ends, so was expecting to pay an ERC, but on our latest redemption statement from Nationwide it says £0 for ERC, when I sign into my account it also says £0. I called nationwide out of honesty as I didn’t want to get…
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Strange question from lender
Hi we have an application in with Leeds building society, it’s been about 3 weeks now. They’ve come back with 2 lower loan amounts so far and are re-reviewing again. Yesterday, they asked our mortgage advisor if I had any “personal vulnerabilities” ….? She confirmed that I don’t but stated it’s a very strange question. I…
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Mortgage company gave incorrect advice
Long story short. We were told by our mortgage company that we could port our mortgage to our new property (part commercial/part residential) as long as the title of the property was split. Splitting titles happens on completion so on their advice we paid our mortgage off in full, paid for the new property with all of our…
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Retirement Properties
Is it possible to get a mortgage for a retirement property, or does the set up mean that either banks or the housing associations don't like it?
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Halifax Not Reducing Term With Overpayment
In November 2021, we took out a 7 year mortgage, 5 year fixed, with the Halifax, which would have taken us to retirement age. It was always the plan to overpay when we could by 10% each year and reduce the term. This was fully clear when we took out the mortgage. We have just overpaid this years 10% which the calculator on…
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house valued slightly less than offer
Hi, I’d appreciate some advice, we’re going through a mortgage application, all good so far though I have noticed the property we have put an offer on for at asking price of £260,000 has been valued by the lender at £258,000. Just wondering if anyone else has had experience with this situation, do they always offer less at…
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Is this the right way to plan my next car purchase? Mortgage Borrowing?
I usually buy a car for 15-20k and have it for a good 10 years. Mortgage 160k Additional Borrowing 20k Total Borrowing 180k at 4.74% Tracker HSBC from 1st July (Hoping its 4.49/4.24 by Summer) Purchase car on BMW PCP, highest deposit, over 4 years, mileage say 15k. Then once agreement up and running, week later, overpay…
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Santander offset mortgage
I’ve had an offset interest only lifetime tracker with Santander for almost 20 years. I have been adding lump sums to my savings account until it reached the total mortgage amount. Then after few years I needed cash and I started making withdrawals from this offset savings account. I’ve noticed the mortgage deductions…
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Aged over 56 and want to buy into a shared ownership property
Hi, I used to have a mortgage until I sold my property, and moved out of area. Once i had sold my house I was able to buy a new property outright. However, I was very unhappy being so far away from my teenage boys and felt I had made a bad choice. I sold my property, but did not have enough money to buy anywhere back in…
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Relocating England to Scotland
So we have finally decided to take the plunge and make our dream a reality… moving from south west England to the Inverness area of Scotland. our house is currently on the market but not yet had an offer so we won’t be making any offers on Scottish properties until we have a solid offer and sale underway as we know things…
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Clearing mortgage with lump sum
Posted this on Reddit, but not much traction… just wondering if I’ll get any other thoughts/comments on here as my more preferred go-to for finance info…: I’ve read a few threads about paying off mortgage, but just checking that I’m not missing anything before I go ahead with clearing my mortgage this week. There’s a few…
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Mortgage free or bigger house
We’re currently mortgage-free but considering moving to a bigger house as our current home is getting too small for our growing children (1&3). To do this, we’d need to borrow £275,000 over 35 years. This mortgage payment would work out at £1235 a month. Once the mortgage and all bills/food are paid, we’d have around…
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Barclays Mortgage Application
Hi i I don’t know if anyone can give me any advice, I applied for a mortgage with Barclays on 28th Feb, after having a DIP. At the time of doing the DIP I had a missed payment from Klarna which I was unaware of until I ran my credit report in January- it’s recent December 24 The missed payment is actually an error, but…
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Remortgage or renew
Our current mortgage has about 65k left on a 275k house. Current rate is 2.04% and is due to end in October. Starting to think about getting ready for when it ends. I wonder whether you think it would be best to remortgage to a new lender or to renew our current mortgage (haven’t looked into it as yet with rates etc. so…
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Mortgage free or more space dilemma
We’re currently mortgage-free but considering moving to a bigger house as our current home is getting too small for our growing children (1&3). To do this, we’d need to borrow £275,000 over 35 years. This mortgage payment would work out at £1235 a month. Once the mortgage and all bills/food are paid, we’d have around…
