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Nationwide Mortgage
Anybody applied with nationwide recently Text: 8th July Hi, Nationwide here. We've received your mortgage application. If you're an existing customer switching to a new deal, your switch has been accepted.
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Is my complaint against FirstDirect/HSBC unreasonable?
I just wanted a 3rd party opinion on this. I had a complaint against FD which the Financial Ombudsman which has entirely found against me, but I just can't see their logic and find it very frustrating. I applied for a mortgage with First Direct last year. They charge a £490 fee and say the following about it in their T&C:…
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When interest rates come down, can I switch?
Hi, I got my mortgage in October last year with an interest rate of 5.6% and I’m fixed for 5 years. This is affordable but as and when interest rates come down, is there any way for me to take advantage? For instance if my lender has a better rate than I’m on, would they allow me to switch? Apologies if it’s a silly…
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Gifted deposit from parent's partner
We are receiving around 40% if our deposit from my parent's partner and have stated, on advice from our mortgage broker, that they can be titled as stepfather. We have the gifted lender signed and relationship is stated as stepfather. Application has been sent to HSBC. Everything fine so far but wondering if we will run…
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Mortgage valuations on “fixer-upper” properties
Hi all, I am a first time buyer applying for a mortgage on a probate property in need of a full renovation. My question is related to how lenders assess and value houses that are in a state of disrepair. More details and context is below. The property has a working electricity, running water, central heating, and a kitchen…
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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)…
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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…
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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…
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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…
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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…
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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?
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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…
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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?…
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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.
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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…
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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…
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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…
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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…
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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…
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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…
