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5 year fix ending 2025 - what will my current lenders AVR be based on?
my 5 year fix ends next year with Bank of Ireland. The property is worth about £225K and the remaining amount of mortgage will be approx £30K How will the bank calculate monthly amounts? The original figure from 5 years ago? ( when the property was worth less?) I'll be 63 next year and currently retired so what can I…
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Is this borrowing realistic or too much?
We have been looking at a property we like, but want to know if we can realistically afford it, how much more could we borrow? I’ve tried online calculations etc but getting confused by it all, seems even more confusing than when we were first time buyers! I’ll provide some further information, would really appreciate any…
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How much could we realistically afford?
We have been looking at a property we like, but want to know if we can realistically afford it, how much more could we borrow? I’ve tried online calculations etc but getting confused by it all, seems even more confusing than when we were first time buyers! I’ll provide some further information, would really appreciate any…
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Natwest Remortgage with 1 Missed Payment
I'm looking to remortgage with Natwest (moving from a different lender). However I've just had a missed payment applied to my credit file from Three for £150. The missed payment was due to the bill being much higher than usual due to being abroad, and not having enough in my bills account to cover it. Obviously it's my…
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Mortgage reserve
I have a mortgage reserve of £30,000 to pay of by the end of my mortgage in 9 years. I am paying some money towards it but the interest is extortionate so am only paying off some of the interest and not touching the capital. Is it better to consolidate reserve with the mortgage and pay everything off together or get a loan…
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Mortgage more than offer?
Looking at putting in an offer on a property, home report value £320k. Some work needs done, including new roof etc. Considering putting in a low offer to reflect this. However, Decision in principle is based on home value of £320k, with £32k deposit. If we did put in a low offer (say £300k), would we still be able to…
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Equiniti Gateway Service / Lenvi re-opening Help To Buy accounts already closed with Target HCA
Since Equiniti Gateway Service / Lenvi took over the administration of Help To Buy loans from Target HCA, did anyone receive charges/arrears from Lenvi, despite the account being fully settled with Target HCA (before the new contract handover on 16 Jun 2023, see the full story here…
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Timber framed construction for 1855 house
Hello, I am FTB with an accepted offer on 1855 circa timber framed constructed house. I got to know that it's a non standard construction. I am unsure on whether I should walk away or not?
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Low LTV rates Nationwide
This seems a bit odd but I guess they can do whatever they like... My mortgage is in two parts a large chunk that has another couple of years on a very low rate, and a smaller one that has a LTV ~7% (although the LTV of both parts combined is ~50%). This smaller one has just come to the end and I've moved to a tracker for…
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Natwest Product Transfer Rates
Natwest appear to have stopped publishing their product transfer rates that they offer to brokers. These rates used to be available to download via their website Can anyone advise how I can keep a track of any changes, without having to go back to my broker every few weeks? I have a product agreed for end of October but…
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Borrowing extra for home extension
Hi I am on tracker mortgage with early repayment charge ( I think 3k) if leaving before may 2025. I have to borrow extra 150k for home extension. Is it worth asking current lender and if they do lend this, can I remortgage with new lender in may 2025. Or is it better to remortgage with new lender with better fixed rate…
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MSE news: Mortgage rates drop below 4% for the first time since April
Fixed-rate mortgage deals have dropped below 4% for the first time since April – though only for those with at least a 40% deposit or equity in their home. However, mortgage brokers say rates could continue to fall as the year goes on – so what, if anything, should you do about it? Read the full story on: 'Mortgage rates…
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Borrowing money for a mortgage
Hi again, I often hear that it is frowned upon to use an overdraft/credit card for a mortgage and many lenders will subsequently reject an application for people that would try to do this. So hypothetically, what if I were to borrow some money (say like £5000) from my boss and use that. Then when my mortgage is approved, I…
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Yorkshire Building Society Mortgage help pls
Hi Wondering how others find Yorkshire Building Society for having a mortgage with? We are considering applying to them. Does anyone have experience of the application process - are they efficient, is it quick and easy to do? Many Thanks
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Source of funds declaration
Nephew is applying for a mortgage. Nephew is shortly (3 - 6 months?) due to inherit £X00,000.If purchase goes through prior to distribution of the Estate, I will lend him the £X00,000, repayable as soon as inheritance is received.I am one of the Executors so will know/be in control, though it will be a personal loan not a…
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Should we stick with our current provider or try to remortgage despite husband's poor credit.
We are currently with TSB with a ported mortgage, £194,000 total (house value £300,000). £50,000 on a 5 year fix until November 2025 and £144,000 on a 2 year fix until July 2025. Since we moved we have had to stick with TSB for remortgaging as the smaller portion was still on a fix so I was hoping next year we could look…
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Hours per week - Decision in Principle
Hi everyone, I spoke to a mortgage advisor and told them I work 48 hours / week and set up a Decision in Principle The thing is, I do regularly work 48 hours per week, but I am only on a 36 hour per week contract. Is that something that could cause problems down the road? Would it be worth me switching to a 48 hour per…
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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…
