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Mortgages & endowments

The place to discuss everything to do with getting a mortgage, remortgaging and more.

Owning our house outright & getting a mortgage for renovations
Hi, first time poster here - sorry if this has been asked before. Basically we own our house outright (left in a will from grandparents). It is a small 2 bed bungalow and as our family is growing, we need to extend the house. We are looking at a sizeable extension (basically building an extension the size of another house)…
Mortgage vs Overpayment confusion
Hi My mortgage is currently £331066 with 16 years left. It is fixed on 1.27% for the next 2 years. If I can save £1500 a month - am I better off putting that in a 5% savings account and putting the saving off the mortgage in 2 years time, or should I be doing the overpayments directly to the mortgage each month? When I do…
calculating amount when switching mortgage provider
Hi there, first time MSE forum contributor and first time switcher. We decided to switch providers when our initial period ends in November. The current mortgage is a fixed rate. How do we find out what will be left to pay when the initial period ends so we borrow the right amount?We know who we want to go with, etc. We…
Do I Cash In My Conventional With Profits Endowment ?
I have a 35 year (Conventional with profits) Endowment plan with Prudential that matures in December 2024, but I am unsure if I should cash it in early ?, the reasons are ..... Originally this was for a 58k mtge, but because it was falling well short I had to take out a repayment mortage, but kept this plan going (Because…
Best option for fixing when selling in ~one year
Hello, I currently owe ~£380,000 with Halifax and my fixed rate is coming to an end in October. I am hoping to sell within 1 year so I don’t think a 2-year fixed rate mortgage is a good option for me as will need to pay an early repayment charge. Is a tracker mortgage a good alternative? So far I have not taken any action…
Kensington Mortgages
I am after a little advice for anyone who has used Kensington Mortgages. We have gone through the process and today been told they've instructed for valuation. How long does this usually take on a new build property?
Bridging loan vs short-term mortgage vs ISA savings
I've found a house I like for £500k. My current house is mortgage-free and worth £170k, it's not ready to sell but should be in 3-6 months. I've £400k in easy-access savings and £100k in ISAs. To buy the new house now I could either: - Use up all my savings and ISAs. But that would leave me with no emergency fund until my…
2 Yr or 5y mortgage ?
Hi guys My friends mortgage comes to an end next week with natwest. She will most likely remortgage with them again. She's thinking will it be a better idea for it her to go for a 2 Yr or 5 Yr fixed rate. .. is rates supposed to be dropping next year or so? Also what thinks should he ask her adviser ? Or look out for?…
Natwest 5yr fixed mortgage @ 2.02% is ending, any idea what the standard variable rate will be?
Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments. Any one any idea what the SV Rate might be from 1st July 2024. Thanks.
Self employed mortgage
I'm self employed, my wife employed. If we were to apply for a mortgage would the lender require 2023/24 tax return to be filed? Is is it usual for a lender to run to HMRC deadlines for earnings info? I have nothing to hide and have consistent earnings year on year. Although in 2023/4 I purchased a replacement vehicle that…
Guidance on remortgage
Hi Our mortgage is due for renewal. We had, probably like everyone else been hoping for a dramatic drop in rate but alas here we are and we have left it stupidly last minute The current amount outstanding is £197k We have £110k available to offset (merging two homes) Which would leave us with around £87k We were thinking…
Borrowing More, Paying what???
Hi All, In October 2026 we need to remortage and get a new deal as our fixed term is over. We are thinking of borrowing more at that point to refurbish and extend the house. At that point we will have 11 years left on our mortgage, owing about 114,000. Our property value as it stands without extending is 350,000. Say we…
HSBC mortgage overpayment advice
In January 2023 I fixed my mortgage for another 5 years with HSBC. I still had 6 months of the old rate at that time (the mortgage runs from June). As I had some spare cash, I also paid off the 10% I am able to pay. In January 2023 I was told that my new monthly payment from June 2023 would be £286 (or thereabouts). In…
Guidance on best way forward with remortgage
Hi Our mortgage is due for renewal. We had, probably like everyone else been hoping for a dramatic drop in rate but alas here we are and we have left it stupidly last minute The current amount outstanding is £197k We have £110k available to offset (merging two homes) Which would leave us with around £87k We were thinking…
Mortgage Overpayment or HTB Loan Payment
In 3 years time our HTB loan will have expired at 0% interest and therefore will have to start paying interest. Our mortgage is also up for renewal in 3 years time and therefore will be looking at remortgaging. Is it better to pay off your HTB loan or overpay your mortgage payments? we would be looking at moving house in 3…
Moneybox and Kensington mortgages.
Hello, wondering if anyone can share their experience with me, if they have one. I’m in the midst of purchasing my first property with my partner, unfortunately my credit history isn’t great, due to being put in an unfortunate position around 6 years ago. I cleared off a large amount of debt over the past few years, and…
My mum wants me to get a mortgage with her, advice please
So I’m 24 and I’ve never had a mortgage before. My mum wants me to go on a mortgage with her because she can not get one now due to her age and she has a CCJ for a parking fine ect, however she does have a really good credit rating and has never missed a payment. She wants to buy a house but she is short of the money as…
Self employed mortgage
I have been a sole trader for 3 years, 1st year profit 19k second year £20, third year £41. I want to get a mortgage for £180000 will I need to wait to have another year of £41 or more earnings?
Property share when splitting relationship
Hi, a basic question. Let's say I move into my partners house, and I start paying half the mortgage. If we split, would I be entitled to half of the amount *after* I have moved in. Here's an example: I move in in 1995 and the property is worth £100,000. I then pay half the mortgage for 30 years 2025, and the property is…
Suffer SVR for 5 months to sync up 2 part mortgage
Part 1 £85k, 1.95%, £447/month, Ends 30/4/2025 Part 2 £120k, 1.94%, £629/month, Ends 30/9/2025 Currently the Chelsea SVR is 8.24% ( 3% higher than BOE) If BOE came down to 4.75 (by April) and SVR went to 7.74 then a spreadsheet I downloaded reckoned the 447 would jump to 706. so 259 more per month. For 5 months that would…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Mortgages & endowments

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