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Overpay mortgage or save
I've tried following other posts on this topic but still can't figure out the best thing to do. Over the next 3-5 years am I better off saving in as high interest account as I can find - with the aim of putting savings towards a bigger house and general savings....Or overpay my mortgage? I have 32 years left to pay on…
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Remortgage
I have a joint mortgage with my mother. We bought our council house in 2006. My mother received some discount when we made the purchase. The monthly payment was quite low and I paid for this myself out of my own bank from the very start right up until now. 2 and half years ago my mother became very ill and was placed in a…
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Mortgage with nearly 6 year old default
I have managed to clean up my credit file and will be taking a mortgage in April next year (cannot be delayed as a divorce court order to buy out my ex). I have a default which is 6 years old at the end of June next year, unsettled and 4k (was under dispute and they confirmed they had no credit agreement and have not asked…
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Remortgaging with lifetime ISA
Hi, Looking for some help on quite a specific case. I am looking to get my partner added to my mortgage when I remortgage at the end of my deal period. She has a Lifetime ISA and hasn't previously owned a property. Now, if we were to buy a new property I know that she would be able to use her Lifetime ISA as a deposit even…
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Nationwide audit trail? Chance of offer?
Hi I hope I will find someone here at the same stage waiting for their mortgage offer and can’t sleep 🙈. Went with Mortgage Advisor. DIP was referred on the 24th April and accepted on the 27th AprilMortgage application sent on the 27th April. Received a text on the 28th that valuation has been booked for 3rd may. Which was…
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MSE news: Mortgage rates increasing again – so do brokers think now is a good time to fix?
Cuts to fixed-rate mortgages have come to a halt and many lenders are now hiking rates following the Budget last month – but will this trend continue? We've spoken to four mortgage brokers to see what they think is next for mortgage rates. Read the full story: 'Mortgage rates increasing again – so do brokers think now is a…
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Payoff mortgage or wait? Best option?
Hi, I have an offset residential mortgage as follows: * Remaining balance £54,484.99 * Variable interest rate currently at 6.75% * Monthly payment amount £926.19 * Actual monthly payment £1,250.00 (always overpaid) * No early repayment fee/charge The mortgage is fully offset against £55,000 of savings, so I am not paying…
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Buy to Let v Remortgage Residential Mortgage
We're thinking of buying a rental property, and having paid off our own residential mortgage we were thinking of rather than taking out a BTL mortgage, we could remortgage our own house and release equity to finance the purchase of the rental house (mortgage would be around 60% value of our home). I assume as long as we've…
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Help! Mortgage application
Can anyone advise where I’m going wrong here? I’m downloading straight from HMRC I can’t see or understand what they mean. My lender says my broker will know, but my broker doesn’t understand either. Can anyone advise? hope you are well, thank you for your patience! I have been back and forwards with the underwriters, they…
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Consolidate before?
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Retention mortgage rate from Santander
Hi looking for advice. We have a 50k mortgage with 12 years remaining currently 4.64% 2 year fixed ending January 2025. Tried to view online but said to call which I just did and offered the following retention rates (all fixed, with no fees): 2yr @ 4.53 3yr @ 4.42 5yr @ 4.33 I have no idea how these fare in the market,…
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Product Fees or no Fee
I am looking to Remortgage as my current deal ends in April. I will be borrowing £100k over 2 years with a 17% LTV. I was hoping for some advice on whether I should opt for a lower rate mortgage with fees or a higher rate without fees (Assuming adding the fees to the Mortgage). Some examples as per below. First Direct - 2…
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Halifax appeal process
Hi, desperately after some help...our situation is quite complex but we went for a remortgage with Halifax and underwriters turned it down yesterday of what I would class as small items in the grand scheme of things....I want to appeal but just found out the process is done in writing with no time frame! You wouldn't even…
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Skipton mortgage off sick
Hi. I've had a mortgage offer with Skipton. I'm almost at the completion stage. The thing is, I'm not well and have been signed off sick for 2 weeks. This will decrease my income as I only work part time anyway as a carer. Will this go against me when I am finally ready to complete? I'm not sick often and if I could work I…
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Confused about overpayments with Virgin Money
So let's say we currently have a contractual mortgage payment of £1500 a month, on a mortgage worth £320,000 (I've changed the figures) fixed for 5 years with a total term of 23 years. Currently we are overpaying £500 a month (this figure is true), all paid via direct debit on the 1st of the month. As far as I am aware,…
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Remortgaging a hone I own outright during renovation
Hi, this is my second thread. The first dealt with the builder fraud that got us in this situation. I won't go into that here but feel free to catch up on it here - https://forums.moneysavingexpert.com/discussion/6520523/builder-refusing-to-communicate-or-work#latest The situation is now that we are £60k into our job with…
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Better formally trussle
I’ve used these guys for my mortgage application that was submitted 4 weeks today. I wondered if anyone else had used them, I’m seriously started to think the length of my application is down to them. Delays in requesting and submitting documents, requesting documents from myself that I’ve already submitted to them. I’m…
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Bank of England cuts base rate to 4.75% – what it means for you and how much further it could fall
The base rate has been cut to 4.75% from 5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates... Read the full story: Bank of England cuts base rate to 4.75% – what it means for you and how much further…
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Stamp duty nightmare!!
Hi, just need to know where I stand on stamp duty. I have been advised that I may have to pay the higher rate as I stupidly decided to get married last year after 20 something years together! I am looking to buy out my sibling of an inherited house (after a massive inheritance tax bill!) I have never owned a house, but my…
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Kent reliance mortgage zero hour contract?
Hi all, we are just about to apply for our mortgage with Kent reliance but my hubby is on a zero hour contract, does anybody know if Kent reliance accept this? I am the main applicant but we need his income included to cover the amount we need. Has anyone on a zero hours contract had it passed by them? I just don't want…
