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Mortgage Rates Dropping - Wise to fix now? What are you doing?
Currently have 4.24 Tracker, 18 months to go. HSBC. Soon to be 3.99 after BOE cut. 200k @ 25 years Would you switch to a 3.8 fixed now available with HSBC or stick with tracker? I am anticipating it going to 3.74 early next year after another cut?
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Cost reductions when unemployed
Hello, I'm unemployed and I was wondering why in this country there is zero help. Let me explain, I can't cut the mortgage, I can't cut the council tax, I can't cut the bills, the max I can do is to remove all the hardly gained health insurances I have (~300 pounds monthly), and if I remove them, I won't be able to get…
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Does a reportage v remortgage with a drawdown have different rates?
Just trying to line up my ducks based on booking a consultation for a remortgage. My £150k 2yr fix ends early next year BUT I want to pull £200k out on top too. Will they charge a higher rate on the drawdown 'based on what it will be used for'? Say 20% deposit on a holiday home or BTL v buying a car (fast one!) etc, or…
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Lloyds adding 2 months extra to my 2 year fix duration - losing out!!!
Took a 2 year fix with Lloyds that started March 1st 2024. Obviously I want to re arrange this asap to get the rate down from 4.94. They say I can do this from MAY 1st. They have added 2 months to the fix's duration. This is v disadvantageous to me especially as I want extra drawdown on a new product asap. How can they…
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How to protect unequal contributions when remortgaging and borrowing extra?
Hi all, Hoping someone can offer some guidance because I’m trying to make sure things are fair for both of us before we remortgage. My partner and I bought our house in July 2023 for £490,000. I didn’t contribute towards the deposit, but I covered the buying fees and I’ve been paying the mortgage on my own for the last 2.5…
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5 year fix?
Hi all We are in process of moving house and with a 80% l tv we can get a five year fix at 4.15% with the bank. Would five year fixing be best way forward you think or should I shorten it and go with a two year in the hope rates are continuing to drop? I know this is an impossible question in many ways. I’m minded to go…
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Natwest mortgage rates?
Hi All - my 5 year mortgage rate with Natwest is due to end on 31st December 2025 and the best product transfer rate they are currently offering for a 5 year fixed deal is 3.83% With the upcoming BOE base rate decision on the 18th December, assuming BOE base rate will drop to 3.75%, how quickly does Natwest drop their…
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Difficulties switching to interest only morgage after income reduction
We took mortgage out in 2021 as a Contractor mortgage. After the pandemic the contactor market took a hit and it was difficult to land contracts, and in particular the industry I am in has seen a significant decline. As such, over the past 4 years I have landed and lost 3 contracts through no fault of my own. Each time I…
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Struggling to get a mortgage in principle with USD company earnings
Hello. I am currently looking to get a mortgage in principle; however, my mortgage advisor has said that my choices will be extremely limited because my company is paid in USD. My company is paid in USD ($150,000-$200,000 monthly + £15-25,000 from other clients) on a monthly basis, and I pay myself £10,000 a month on PAYE…
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Should I use EA solicitor?
Due to agree on a purchase on Monday. Broker (independent and DIP) in place just need to choose my solicitor have had a few quotes from just under £2k to around £2.5k. I contacted a decent sized firms branch local to me for a quote and then received one from another branch of the same firm through the estate agent. This…
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Getting a mortgage on a pension
So I have 75 k savings and a low pension income supplemented by self employed earnings. I am wondering if it would be possible to parlay that into buying a 95k flat. I'm 67 - am I dreaming?
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Letter Issued to the Wrong Address
This is on behalf of someone else, I've suggested that they should refer this to FOS A landlord recently paid off their mortgage. There was an issue with the final payment, which prompted a complaint to the bank. The bank didn't respond at first. The tenant then contacted the landlord, saying they had "accidentally" opened…
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Should we buy a property for my student son in his final year of uni
We are considering buying a flat/house in Manchester for or with my son when he enters his final year of study. He would pay us rent, along with a house share friend who is employed. My son has a LISA which he would like to use as his deposit (or part of). He intends to remain in Manchester either as a post-grad or in…
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Mortgage broker - ask me anything
Thought I would start a thread where people can ask the brokers opinion on things @ACG @LRmortgage @kingstreet @Deleted_User (any other brokers want to chip in - these were the main other brokers who came to mind. It is definately an interesting market - probably the busiest I have ever been but at the same time lenders…
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Mortgage deal turnaround times
Hi there, I have a BTL mortgage for which the last product lapsed on 1st December and moved to standard variable rate. I allowed this to happen to enable a large overpayment, which I have since done. I applied for a new product with same provider so no valuation, solicitor issues to worry about. I have until 18th December…
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Kensington
My broker got us a DIP from Kensington last month. We have now agreed a purchase and send him all our documents today (ID, 6 months wages, 6 months bank statements etc) from looking online we fit the criteria for the Select products. Just wondering if a DIP usually leads into a full offer or are they known for declines?…
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Skipton 100% mortgage credit check
Hello, We have a mortgage offer from Skipton on their 100% LTV mortagges. We are awaiting an exchange and completion date currently and expecting this in January. During the process of the offer we gave our current outstanding balances for our credit cards and highlighted those that will be paid off in full prior to…
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end of term/renewal overpayment (nationwide)
So, i'm coming to the end of my 2 year fix with Nationwide in March and its only now i can start planning the next term since they only allow renewal from 4 months before the end date. What I'd like to do is make a single lump payment when I do my renewal to take me under the 60% LTV threshold. To do that I need to pay…
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Avoiding reposession
I have a joint interest only mortgage which ends at the end of March. I live in the property with my grown up daughter. My husband lives in France. A couple of years ago I tried to get a divorce but he wouldn't engage with me or any correspondence from solicitors and I then heard he had tried to take his own life, so I…
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Best way to maximise inheritance please!
We are fortunate to be shortly getting £100,000 inheritance from my mum (though I'd much rather still have her around). The Estate is not yet finalised, this is an interim payment, we may get an additional £30,000 or so when everything is completed. We are currently mortgage free having lived in our house for 25 years, but…
