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Overpaying your mortgage- is it worth it ?
So I've been wondering what is the point of overpaying your mortgage. if you're fortunate enough to have spare cash around to put towards clearing what is most likely, the biggest debt most people will ever have, to me it seems pointless and a waste if your home's value is subject to the peaks and troughs of the economic…
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Endowment maturity
Hi we have an endowment which is due to mature soon. This is no longer attached to a mortgage and hasn’t been since 1999. Aviva are asking for proof of no interest from the Nationwide (old mortgage provider). We do not have a record of the mortgage number and Nationwide say they can’t provide proof of no interest without…
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Nationwide mortgage timeframe
I have below the timeline from nationwide: 18/01 DIP was approved, date to speak with MA was set. 20/01 Spoke with the MA and provided all the documents. 24/01 MA asked for some more details regarding the source of the down payment which was provided to them within an hour. 27/01 A call from MA to make an amendment on…
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Overpayments advice please
Hello folks. I wanted some advice on making overpayments on our mortgage please. We have spoken to our lender who advises the following: * If we make an overpayment of £133 per month (from £767 to £900) we will overpay a total of £35,100 during the remainder of the fixed term period which ends 01/10/2027. * That will bring…
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Northern Rock repossessed asset owner?
Will be really grateful for any help or steers to unpicking who the asset holder of a parcel of land now is. The original owner was a company that first went into administration / insolvency in 2005 - the legal charge subsequently passed to Northern Rock and an entity seemingly titled “Diversity Trustee No.1 Ltd” … Would…
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Mortgage affordability calculations
When applying for a mortgage, is it possible to get a lender to consider where you'll be able to reduce your outgoings? Or is it always a case of "You've been spending it for the last X months, so we're going to assume you're going to continue spending it". Reason for asking is that our mortgage is tiny at the moment, so…
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Northern Rock - Tracking down repossessed asset holder
Will be really grateful for any help or steers to unpicking who the asset holder of a parcel of land now is. The original owner was a company that first went into administration / insolvency in 2005 - the legal charge subsequently passed to Northern Rock and an entity seemingly titled “Diversity Trustee No.1 Ltd” … Would…
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IHT and paying off mortgage as guarantor
Hi my husband is a guarantor for my daughter's mortgage. She is on ESA in support group. He has an ISA maturing and plans to use it to pay off her mortgage. Would this be affected by IHT if he were to die within 7 years as he is in effect paying off his potential debt if she were to default?
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BTL mortgage coming to an end next year. HELP!
My mortgage term ands later this year at which point I will revert to the SVR. Currently I'm on 2.4% with less than £10k left to pay. When I revert to the lenders SVR, my monthly payments are likely to triple I've been told. With only a few months left after that until the mortgage ends, Can I beg my lender to keep me on…
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Mortgage deal ended
Hi all, my mortgage deal ended last August even though they said I was made aware I only got texts saying its ending no date. Then in Feb this year saud I owed £75. I rang as I paid standing order every month and they told me I'd paid over every month which I did but they used all credit until Feb when it ran out.…
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Downsizing on a fix mortgage rate- what do do with 'spare' cash
Hi, We are currently in the process of down sizing but due to being on a fixed rate for another approx 2 years at sub 1.5% I want to port the entire mortgage to new property (the mortgage company said we could do that) The move will give us approx £95K 'in our pockets' so to speak but from that approx £5k will be spent on…
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Stamp Duty
Apologies if this is in the wrong section. Basically my partner and I both own a property with mortgage. The plan is for her to move in with me and rent out her property. We then want to get her onto my mortgage and then will have a share in my property. Say we complete a declaration of trust to say her share is for…
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Special condition on a mortgage to pay off our debt
Hi, who had an offer with these special condition ? We are paying off ALL our debt with the sale of our current house and getting a new mortgage, as it affects affordability, our current mortgage offer stands this special condition in there. Basically It says I need to pay off all my debts 30 days after completion and…
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Simply Adverse
Hello, we have received a decision in principle from Simply Adverse. Email received confirming the decision however no mention of which company. Am I okay to enquire or is this withheld to ensure your return for the formal application? Also the broker advised the mortgage company do not request bank statements, what will…
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Gifted deposit - help!
Currently in the conveyancing process of buying our first house. Today our solicitor has asked me to complete a gifted deposit form for the £9000 that is being gifted to me from my grandmother. However, as part of that process we realised that my Grandmother no longer has valid photo ID. Instead, my Mum has agreed to be…
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Sell .. Rent …
Hello ! We are in a very fortunate position where we are moving due to my husbands work to an accommodation all paid for job starting in August this year. He has been in the position for over 8 years and his job is at a private school . We currently own a 2 bedroom semi detached house which has a 20% help to buy loan (…
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Mortgage
Hi everybody, I made an application with Nationwide on 7th of May and very next day my application went to Audit. I got the AIP with Nationwide and Accord by the way. I am not sure what does this mean and the likelihood of approval. Circumstance: Me: Employed from 10 years. wife: Self employed for 2 years and now employed…
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Help me decide
It’s a long one bare with me So I’m fresh out of an IVA paid off but waiting completion cert so still on credit file, paid off 3 weeks ago and said up to 8 weeks to receive cert. so could be a few more weeks yet. Default to BG £76 registered May 2020 queried it as not right and they are removing it but taking its time.…
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Getting a Mortgage for construction costs
Hi all. I’m a first time buyer and had my LISA for a number of years. I’m intending to purchase a house that is fairly run down/dilapidated that I want to fix up. I intend to use my LISA to use as a deposit on a mortgage. If the mortgage I could get is higher than the value of the house, am I able to use some of the…
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Experience reapplying with same lender?
Hello, We went through the whole process of submitting an application with Santander at the end of March. It was decline due to them needing an extra document that I was only able to obtain now. Broker said that was apparently all that they needed, and that they were happy with everything else. We are due to apply again in…
