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Early penalty charges
I have read Martin's tip for avoiding mortgage exit fees, i.e. by leaving a nominal sum such as £50 in the mortgage to keep it "open". Is it possible to do this to avoid paying early repayment penalties? My son is having to sell his home and is going to be hit with a £4,500 penalty. Could he avoid this by leaving the…
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Paying off mortgage (endowment)
We have got an endowment mortgage which is due to mature in 2012. The sum covers the whole of the mortgage with a bit to spare. However, I am retiring in October this year and was thinking of paying my mortgage off. If I did, would the endowment still mature in 2012 as originally planned or would it mature as soon as I…
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Mortgage / Bank problem..
Hi Everyone, Hoping somebody can help me! Basically when my mortgage started (Dec 05) they added a 399 fee to the mortgage. So i immediately sent a cheque for 399. I got my statement at the end of 2006 and saw the money hadn't been credited. So i phoned the mortgage company who asked for a copy of the cheque. I've been…
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Endownment loans
We took out a loan on our endownment policy 10 years ago.(stupid I know) We were told at the time the loan amount would be deducted off the bonus at the end of the term huh thats not going to happen now. It is due to end in November and the loan will become payable has anyone else done this? Is there anything we can do?
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missed deadline on endowment policy
I took an endowment out in 1988 (then Scottish Amicable now Prudential). I made a mis sold complaint to Barclays who have just informed me that as the time limit has expired they will not be investigating my claim (the time limit was apparently 12 May 2007). I thought Prudential were one of the companies who did not have a…
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Whats better repayment or paying the difference to the balance at the end of the deal
i have a balance of £106500 with 12 years to go. i want the best 2 year fixed rate ito overall cost over the 2 years. if i pay interest only the monthly payment is £550 approx and if repayment it is £1050 approx ie £500 more. would i be better to put the £500 per month into the bank and then put it towards the balance at…
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LIBOR question
Sorry to show my ignorance but I am looking for a little guidance before tackling my lender. I have a sub-prime mortgage with Kensington. The rate is LIBOR plus a MAXIMUM of 3%. I have recieved a letter this morning dated 30th August (slow post !) stating that from the 1st September the rate will increase to 10.8 %. I have…
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Has anyone completed mortgage or had additional funds from NR since the annoucments?
I'm about to complete on a property in 10 days and am told this is all fine but I guess until the funds are released and with my solicitor, we won't know for sure. We also have another mortgage with NR and are taking out additional borrowings which we are told we should get next week although we've had nothing confirmed in…
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Buying out my ex
My partner and i broke up about 6 months ago. He has moved out of the property, and has agreed to be bought out of his share of the property for £3,000. The mortgage company are not willing to remortgage at the moment, as he let payments slip a few months ago(wihtout telling me). They will not release his name from the…
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Tracker due to finish with Nationwide
FA has advised me to consider moving to a lifetime tracker mortgage with the Cheltenham & Gloucester this is 5.92% (Bank Base Rate +0.17%). This also has free valuation and legals. There is a £99 application fee payable upfront. Situation is I've 3years and a few months to go until end of term, it's part repayment part…
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surrender endowment policy or take out loan?
Any advise would be gratefully received! I am looking to have a new kitchen fitted and need about £10,000. I could take out a loan over 5 years OR I could surrender my endowment policy OR I could take out the additional sum on top of my mortgage BUT i'm confused as to what to do for the best. A loan would cost me about…
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Buying A repossession Property
Hi all I only come accross this forum a couple of days ago and have found in extremely helpful and interesting...................I though I was always the only one stuggeling to get on the property ladder :) I have been given a AIP/DIP with BM solutions, and inteed to submit a formal mortgage application as soon as our…
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Combined Current/Mortgage a/c to Fixed rate
I made the mistake of thinking I would be good with money and took out a Virgin One account many years ago. To date I have enjoyed the spending flexibility, but have paid little off the £140k mortgage. I am thinking about moving to a fixed rate mortgage and wanted some ideas. I earn £57k approx House value around £225k…
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mortgage deal ends in august - im worried i wont be able to afford
ok so my 5 year deal with the alliance and liecester is due to end in august an d i pay around 350 a month fixed about 5% but fieghtend if i have to arrange a new deal i wont be able to afford it. i am very worried and am just about about able to save a good amount each month and frieghtend that i wont be able to do…
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can three people be on the same mortgage
I own a flat in need of updating , I am on disability benefit, so have a very low income, Can I remortgage by adding my son and his partner to the mortgage in order to fund the improvements, can three people be on the same mortgage :j
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Remortgaging now but extending house in 3-6 months
Right, here goes. Our fixed rate mortgage is due to end next month so we want to remortgage now to avoid a jump in rate from 4.8% to 7.8%. Straightforward so far. However we're planning to extend our house and will spend c.£30-40k in around 3 to 6 months time. The way I see it we have 2 options. 1) Remortgage now for an…
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Should I remortgage our home, that is the question?
Hi,folks, Just wondering if you could help me decide on this. At the moment my hubby and I have an £85 000 mortgage from Bank of Scotland having a tracker rate (dont really know what that means) and paying a part of capital and interest rate. We have a 16.5 yrs to go. We are paying £687 per month at the moment. We are…
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mortgage advice please
Hello, I was wondering if anybody out there can help? A bit of background might help. My oh & I went B/R in June 2004 & discharged in Dec 2004 & have been living in rented accom since & paying £550 pcm. (our house wasn't repossesed, we had sold it 5 yrs before as our job at the time provided accom). We are now both working…
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Mortgages based on affordability?
Who does mortgages based on affordability? Situation: married own our house on a mortgage with Halifax. Self employed (when we look at selling this for our next house we will have 4 years accounts) a* credit ratings Thing is as with alot of people our accounts don't reflect our true income. We take a fixed wage without…
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Should I get a new mortgage
My current mortgate deal ends in march. Martin's advice is to change to a new mortgage as soon as possible. My current rate is fixed 4.59%. To break my mortgage deal would probably cost around £2000. As far as I can tell this wouldn't be worth changing, but I don't know if i'm missing something. Can anyone give me any…