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Equity?
Hi I am confused as it seems like my equity in my home isn't going up even when I am making payments. Some background I have 20 years left of on mortgage paying £364.94/month and my mortgage account is 58,617.00. My house is worth 120k. Last month I calculated that my equity would be £61,598 but now I calculate it is…
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Remortgage to Savings - Any pitfalls to be aware?
Probably a very strange question but I need to have a significant sum of money in a savings account untouched for at least 6 months, possibly a year. I have no mortgage currently on my property so was looking at options to borrow the money so it doesn't affect any of my existing savings as I would lose ISA allowance. Best…
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Moved: Trust Wills: Porting a Trust to downsize. Who is liable for expenses
This discussion has been moved.
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Mortgage Product Transfer + Default Help!
Hi all! I just have a question I’m hoping someone can help me with! Basically, I have a joint mortgage with my partner with Barclays and it is due to renew in May 2026 (actual rate ends in November next year). My issue is, for reasons I won’t go too much into I have 3 defaults on my credit file which I’m actively paying…
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Home equity loan/unencumbered mortgage to repay family gift
I have recently completed on a flat, I paid in cash with help from parents with the agreement I would pay them back in full by getting a mortgage. I couldn't secure a mortgage at the time as I hadn't received any pay checks yet. I have now been working for three months and have started to consider taking out a loan or a…
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Liz Truss damages and Compensation
I wonder if anyone has persued this thought.... Firstly, I will say that I am not impacted directly via increased mortgage rates, as a result of the mistakes openly admitted by Liz Truss / Kwasi Kwarteng / Jeremy Hunt, so this is a theoretical question for me, but not for others. But I was lucky. If, say, a council made…
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New Mortgage with no job
Hi all. About 20 years ago I got a new mortgage when I had no job but up to 25% deposit. I used a mortgage advisor now retired or dead and all I had to do was sign a form declaring I could make monthly payment, irrespective of no income or proof of how I would make payments. Do this provision still exist ? I have been told…
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Mortgage Overpayment - reduce monthly amount or reduce term
Hello, I'm (very fortunately) able to make a lump sum payment on my mortgage and also could make monthly overpayments. I took out a flexible mortgage so I can repay as much as I like whenever with no fees. When I go to the mortgage calculator I have the option to reduce monthly payments or shorten the term with the lump…
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Remortgaging: 2, 3, or 5 years fixed?
Dear All, We bought our house 10 years ago and so far had two 5-year fixed-term mortgages (first home, so no other mortgage experiences). We are now due to remortgage, and I met our mortgage broker today. We have pretty similar offers: 1. 5 year fixed at 3.89% for £1315 per month with Nationwide. But we are currently with…
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Base rate held at 4% – here's what it means and when it might change
The Bank of England has held the base rate at 4%. We explain why, the latest predictions for when it might change, plus what it means for your mortgage and savings... Read the full story: Base rate held at 4% – here's what it means and when it might change If you haven’t already, join the forum to reply.
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Even Equity Loan - First time buyer boost
Hi all! New to the site and need some help. Savings like crazy at the moment and have around 16k, with more in a LISA, and my partner also has a LISA maturing next year. We are looking to boost our deposit to get our first property. We are looking to get atleast 20% deposit down for a 300k property as we are starting our…
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I own a home but my partner doesn't. If we get joint mortgage is their 50% stamp duty?
If I were to buy a 2nd home I'd get hit with stamp duty, but what if it's a joint mortgage with someone who is a first time buyer (and thus no stamp duty) thanks
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20 Defaults - Is it possible?
Hi everyone, I am hoping to get some suggestions/opinions advice if allowed? I’ve been reading through lots of threads here and have found the advice and personal experiences really helpful, so I thought I’d ask about my own situation. Im going through a really tough time that will result in about 20 defaults across…
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Overpayment on Interest Only mortgage
Hi all, I'm hoping you can help me - I suspect I'm just being really stupid but if anybody can help I'd be ever so grateful. We have 7 mortgages on our home, with Nationwide, and we're overpaying them as much as possible to try and be mortgage free in the next few years. 6 of them are repayment mortgages so when we make an…
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Remortgage declined because im paid via umbrella
Hello all Im a nurse on ongoing temporary contracts through an agency. Santander didn't like it as soon as they seen Umbrella.co.uk wrote on my payslip. I've had my mortgage with them for 10yrs too. What options do j have please? Im trying to release some equity for a new car
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Mortgage pre or post house purchase
Hi forumites, I'm hoping for some advice. I have put in an offer for a house and have a buyer for mine. I can purchase without a mortgage but will need one to do work on the house. When is best to apply? Should I do so before purchase (I have an AIP) or wait until I've moved in? tia
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Should I accept gift to pay off CC before mortgage application?
Hi! My partner and I are going to start the process of buying our first home together in the new year. My partner/his parents are providing 80% of the deposit amount. I will be providing 20% from my savings. I have a credit card debt of just over 2k on 0% interest. My mum has very kindly agreed to give me the money to pay…
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Mortgage on property I own
Five years ago I was lucky enough to inherit some money, but at the time I wasn’t working on a permanent contract and couldn’t get a mortgage. I was able to borrow £60000 from a family member. I’m now in a secure job and in a position to repay. The property is now worth about £200000. What sort of mortgage do I need to…
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Possibility of getting a mortgage with a DMP
Current situation:- Renting for £750pm and the landlord wants to sell in two years time, we would like to buy. The property is probably going to be worth around £220,000 as an estimate. We have combined incomes of £44,000pa and will have a saved deposit of £40,000. I currently have £22,000 of debt (credit cards and loans)…
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Remortgaging options
Hi All, Just looking for advice / perspectives in relation to my options when my current product comes to an end in a few months. Any thoughts welcome..... At that point mortgage will be about £40,000 remaining. House value approx £215k so low LTV. Single parent on part time income so prefer to remain with my current…
