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Can we remortgage our top up mortgage to a different lender?
Hello. I am hoping someone can help with this query. We have a main mortgage (circa £200,000) and a top-up mortgage (circa £45,000). The main mortgage is fixed at 2% interest until early 2026. The top-up is fixed at 3% until late 2024, and looks set to go onto 8% interest at this point, on the variable rate. We are…
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Help to move my mum!
I have no idea where to start with this question 😊 my mum at 82 has finally decided her house is too big for her and wants to move into an apartment with help on hand 24/7. I am utterly delighted and can’t wait for her to move! However she want to move into a very specific location, and when an apartment becomes available…
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Is there a way to take cash out of a mortgage without downsizing - under 55
I am trying to advise a friend who in summary has a mortgage they can't afford, and owes a private loan of about £10k to a relative. Plan A is to downsize by about £50k to reduce the mortgage payment, but my concern is that with stamp duty, legal and estate agent fees, that's a minimum of £10k of that lost in the move. I'm…
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Childcare Costs
Hi all. I’m looking to sell my current house and move to a larger property which better accommodates us as a family. I will be doing a sole application and have a question around childcare costs which I’d love some input or a steer on please! Currently, childcare invoices are in my name and payed from my account, however…
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Northern Rock mortgage
Listening to the news last night I was surprised to hear the item about the “mortgage prisoners” going to court. We took out a NRAM mortgage in 2006 and after the lender collapsed we were transferred to Landmark mortgages and have been with them ever since, luckily we’ve just managed to keep a roof over our heads. We also…
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Anyone had any success
I am coming to the last cpl of yrs on a 22 yr term mortgage. The ex hasn`t paid anything since he left. So approx 18hlf yrs. He has been working and had a large financial payout. So has had the means. He also left 5k council tax debt, mortgage arrears, 300 landline bill and had a hp car taken off him before he went. I want…
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Fixed rate or tracker rate?
Hi all, My 2-year fixed rate is ending soon and now I need to remortgage. The current 2-year fixed rate the bank offers is 5.88% and the 2-year tracker rate is 6.74% Rumour has it that the rate will go down this year but we can never know when and how much. Should I go for fixed rate or tracker rate? Any advice would be…
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Partner moving in how to sort mortgage?
Hi So I have a mortgage on a property and I have paid approx 40k off what I paid for it via deposit and a few years of mortgage payments. My partner is selling her property and we’d like to get her on this mortgage as a co owner so we both have equal stake in it. My question is: financially do I basically halve what I have…
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Lump sum or monthly overpayments
Hello, my partner and I have a mortgage with 185k still remaining. Redemption date is Jan 2044, current term ends Jan 2026. We have been left some money and would like to use 50k of it towards paying off the mortgage. Are we better off paying in one lump sum or monthly overpayments? Is there a reason why one would be a…
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10% Overpayment calculator
I'm trying to work out how you calculate the 10% over payment limit. Trouble with googling this is I get twenty different sites telling me what that will achieve but I'm trying to work out just how much the 10% is as all (nearly all) lenders will start to hit you with early repayment fees. What is the 10% of... Is it 10%…
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MSE Mortgage best buys vs a Broker
Is there much of a difference between using the MSE Mortgage best buys page with what looks like 79 lenders currently and going via an estate agents 'independent' broker? Looking for a house right now and every new estate agent I view via tells me how amazing their mortgage broker is, best deal, ever, made the mortgage…
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Should I extend mortgage term if due large payout in 10 yrs
Hi there we are due to renew next year and currently on 1.5% so it’s going to hit us bad. We owe 250k but have just inherited and plan to pay 100k off soon leaving £150k which will keep our monthly payments the same as what we pay now. My question is, my husband retires in 10yrs and will get a large bulk payment (£100k).…
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Endowment Longfall 10 years early
Hi. I'm facing an endowment 'longfall' ... my endowment has reached its target value 10 years early and the value exactly matches the outstanding mortgage (£140K). If I pay off the mortgage now, then the amount I'll save in mortgage and endowment payments over the next 10 years will roughly equal the surplus I'd get in 10…
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Mortgage lender that accepts universal credit housing award
Hi, I'm currently in the process of trying to get a mortgage but need the lender to take into account the housing element of my universal credit. Does anybody know of a mortgage lender that accept this?
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Lifetime ISA and rent-a-room scheme
Hi, I have been saving for deposit via the Lifetime ISA. I am not in a relationship but hate living on my own so would be keen on renting a room out when I purchase a house and this will also help with mortgage payments. The only thing is, I know you can't rent out your house when it's bought with a LISA. Is this the same…
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Ask seller to extend lease before buying
Flat on the market with 82 yrs lease. In ad EA mentioned seller is considering extending the lease. Shall I believe the EA or how will I know this will happen and the queries to ask EA. I read it can take up to six months. Anybody been in this situation and offer advice pl? Will do a viewing next week, what are the…
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Borrowing More
Hello All, We are looking to borrow more on our existing mortgage to convert our loft into two bedrooms, as this is cheaper than moving. We are currently on a fixed-rate mortgage with Halifax for 5 years, which ends in December 2027. If we were to borrow more, the current fixed terms offered by Halifax are either 2 or 5…
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Investment Shares + S&S ISA
Hi! I currently hold a large number of shares in the Company I work for as part of a benefits package (~50k). Does anyone have any advice on whether it would be prudent to cash in the shares that are available and put into a stocks and shares ISA so I have a diversified portfolio? I haven't done this previously but trying…
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I've lost my UC payment as I've bought a Shared Ownership property
Hi, I have just found out that I have lost £164 a month from my income from Universal Credit due to purchasing a Shared Ownership Property. I knew nothing about this and didn't even think to check as I declared everything to my mortgage advisor and mortgage lender, so according to the advisor at TurnToUs they should have…
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Buying Partner out of owned property - advice needed
Hi My ex partner and I own our home as 50/50 Tenants in Common. He brought in on my property but it has not worked out. We have agreed that I will pay him what he paid in initially 165000 Property value - 330000 payment I need to make to him - 165000 my salary: 44669 No debts/loans i have savings of 20000 my age: 52 2 x…
