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Bank of England cuts base rate to 5% – what does it mean for your mortgage and savings?
The Bank of England has cut the base rate from 5.25% to 5%. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move will impact mortgage and savings rates. Read the full story: Bank of England cuts base rate to 5% – what does it mean for your mortgage and savings? If you…
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Remortgaging question
We have £188k left on our mortgage over 23 years and are up for renewal next February. Our current 5 year fix is at a fantastic 1.76%. Obviously we're in for a bit of a shock next February. Current deals for 5 year fixes seem to be around 4.25%. However it seems that interest rates are slowly coming down? Would we be…
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Paying off BTL mortgage - strategy advice
Have £50K left on BTL fixed rate mortgage - property value £220K. Current rate BTL mortgage rate is 3.29% which ends 30/11/24. Can pay off between £10K and £20K in November, leaving £30K - £40K outstanding. Question is do I look for another fixed term mortgage (inevitably higher than current rates - current lender offering…
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Wanting to take out additional lending on very low remaining mortgage issue
Hi all, this is probably an easy answer but I will ask anyway. We owe 9k on our mortgage at 1.79% with 5% ERC. (1yr 10months left) We had a quote for an additional 60k borrowing for a small extension but they quoted 5.5% for 5yr fix. My thoughts were to pay 10% overpayment on the 9k and then remortgage with Barclays @…
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Nationwide 10% overpayment of the original loan
We routinely overpay our mortgage and are just about to remortgage at the end of our fix. I’ve been struggling to find nationwide’s definition of original loan. Our original mortgage with Nationwide was £140000. We’ve stayed with them through subsequent remortgages and are now about to remortgage again with our remaining…
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Getting a mortgage a UK Citizen and an Irish Citizen in the UK
I'm stuck on where or how to go about getting a mortgage for myself and my partner. My partner lives in Ireland and is an Irish national (dual nationality "Philippines") And I live in Scotland. We're looking to both move to the south of England where my partner will find a job based in London as a VP accountant, they still…
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Renewing my mortgage - understanding the process
Hi, As far as I understand the correct term in my case is 'renewing' my mortgage and not 'remortgaging'..... I will be renewing in June 2025 and will stick with the same lender (Santander). The main thing I'd like to know is if I need proof of income when renewing? There is a reasonable chance I could come into some money.…
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Paragon Personal Finance second charge interest
H I'm looking for advice i I have a second charge mortgage with Paragon personal finance which I still had 4.5 years left on. A few months ago I got a letter saying that they were not charging me interest on my account from now on. I phoned them up and asked if this was correct and why they had decided to do this. they…
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Divorce, Mortgage and Deeds
Hi all, I've come here as trying to get hold of professionals to get advice is so time consuming and end up going in circles without clear advice. So I'm hoping that someone has been in my position and can provide some clarity. I'm in the final stage of divorce and we have settled on my ex having the house. As part of the…
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Remortgaging - Barclays won't give exact figure
My fixed term ends in six months, so I'll be remortgaging for the first time soon. I am following the mse guide (https://www.moneysavingexpert.com/mortgages/getting-ready-remortgage/) and at point 5 it says get an exact figure from your current lender. I called Barclays and they 'can't' tell me, until 30 days before. It's…
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Kent reliance shared ownership bad credit
Me and my partner are in the process of getting a shared ownership house. It’s my first home and he’s not owned for 10 years. His credit file is good 800+ and mines bad 649 with some missed payments on a now paid off credit card last November. All our debts are now paid off but because of my credit file the mortgage broker…
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Accord Mortgages Timelines
Hi, just wondering if anyone has applied for a mortgage with Accord recently and if so, what sort of timeframes you had to wait for the decision? Thanks!
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Hurrah! Paying off my mortgage!
Hi folks. After many years, I'm now in a position to pay off my mortgage, I've waited until my deal ends to avoid a £900 early repayment charge, however I've been told by my solicitor that I must use them to have Santander removed from my deeds. Needless to say, this will cost me £900. I've been told I need the solicitor…
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I must be missing something in my repayment v interest only calc:
I'm coming up to remortgage, and wonder if I'm missing something in my calculation on Interest only v repayment.Outside of the inherent risk around Interest only , what am I missing? it makes interest only + investment look like a no brainer? £184k mortgage on £380 valuation. 15year 4.2% mortgage. Scenario 1:Repayment…
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Mortgage coming to an end, may emigrate next year: thoughts?
Current situation: Bought house at £375k 21/09/2019 5 year fixed mortgage at 2% Have been overpaying, down to £231758 owed Need to remortgage pretty ASAP The big question: I'm a Canadian citizen, and for the past two years we've been considering moving to my home town. If that's the case, but we're not sure: What would…
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An equity release mortgage, should they obtain the borrowers agreement before settlement
I'm trying to help someone understand how funds are settled when an equity release mortgage is involved. Here's the scenario: The 20-year interest-only mortgage term has ended, and the original lender requested repayment of the debt. The borrower chose to settle the debt and stay in the property through an equity release…
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Do I qualify as first time buyer in UK if I purchased a flat in Spain but sold it years ago?
Hi. We're looking to buy a property in the UK. Could anyone clarify if we qualify as first time buyers if we owned a flat in Spain but sold it 2 years ago? Thank you.
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HSBC rejected - subjective
I applied for a mortgage with HSBC via my broker 5 weeks ago. Loan: £215k Deposit: £80k (coming from equity in current home) Term: 22 years 5 years fixed rate The application is in my name only but I am married and have a young baby. Husband is self-employed and SA302s show nil due to tax losses but he made accounting…
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I've ordered a sofa and mattress on finance before completion (after exchange)...
Needless to say I feel stupid and am absolutely petrified of the possibly repercussions. For some context – we exchanged contracts on Thu 11th
July with a completion date of Wed 31st July. Wife and I in our excitement
started thinking how we’d furnish the place (we’re coming from a furnished
rental) so went mattress and…
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Gross Annual Salary
Hi everyone, I have been working solidly for the last nine months, and if I base that as my annual salary I am looking at £50,000 But here is my question, before those nine months I was for a month or so in-between jobs, I took my time a little bit as I had money and it was my 40th Birthday Do I need to factor that into my…
