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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…
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Experience with HSBC and LMS while remortgaging
Hi everyone, My partner and I are trying to remortgage with HSBC and we went for the free legal service because our case is a very straightforward case that could be completed quite fast. I believe HSBC instructs LMS who then assigns a conveyancer to your case, but our conveyancer turned out not to have digital deed…
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Edit: sorted now
Edit: sorted now
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Buy to let
I currently have 2 properties. One mortgage free which I bought recently and I paid the Additional Dwelling Supplement of £7000. I have £70000 left on the mortgage to my other house, which i want to transfer to a buy to let mortgage and rent out. Is there anyway I can transfer one to a PLC company name so I can keep the 2…
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Mortgage dilemma - move mortgage to new residential property?
I am currently living in an apartment that I purchased for £322,500 - it is worth similar or a bit less now, and I have a £220,000 offset mortgage left on it which is out of fixed term (so I can change it at any time) and is pretty much fully offset with savings. I have recently inherited a house in full, worth approx…
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Bank of England holds base rate at 4.5% – here's why and when it might be cut next
The Bank of England has held the base rate at 4.5%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings. Read the full story here: If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Mortgage overpayment options at end of fixed deal
Hello, I'd like some clarity, ideas on mortgage overpayment based on our situation below. My partner has a mortgage on a property he owns 50% of via shared ownership. His 5 year deal is coming to an end at the end of October this year. He owes about £125,000 now, and he's in year 4 of a 35 year loan. He wants to overpay a…
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Interest Only Morgage - Was it missold to my 75 year old farther
Hi, I am a newbie here so i hope i am following the correct protocol! I beleive my farther was missold his Interest only morgage by the bank, he was 75 when the bank sold him the morgage. My farther passed away at the end of 2022 and we have now discovered this now as myself and my sister as his benificiaries are liable to…
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Is it normal to be charged by two mortgage brokers in this situation?
Hi everyone, We recently applied for a mortgage through broker A. After much effort everything else was fine except the valuation, so we were unable to get a mortgage offer due this issue. Broker A then found a product through broker B, and to save time, broker A arranged for B to liaise with us directly. Now that we have…
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Mortgage and borrow more money
Hello, me and my wife divorcing. She want stay in home and pay me out. We have joint mortgage so she also want to transfer of equity to our self. Mortgage what left is around 110 k and property value around 200 k. Her annual yearly income 28 k. She need to borrow 20 k to mortgage for pay me out. Is that possible for her?…
