Elite 11+ shopping and chat thread

emerald21

Sunshinemummy wrote: »

Wow that is complex, and whilst this is a little unusual there are loads of different products out there that may allow you to have 2 mortgages without a bridging loan. Maybe have a look on the mortgage thread, or speak to the bank/financial advisor x[/QUOTE

Hi I mean sell the one house and buy another.The difference in price is about £20,000. It's not me but one of my sons. Would be handy if he could afford the £20,000 and not take on another mortgage or loan .

Anon

zippydooda wrote: »

got a bc for me please, cant find them on their web page

5 050083 915123

You can see them on MSM. This one from T

https://m.tesco.com/h5/groceries/r/www.tesco.com/groceries/product/details/?id=277662074

Hth

Anon

silvercar

emerald21 wrote: »

Good Afternoon all. Can I ask anyone who has bought a house lately 1) Do you have to finish off your existing mortgage first then take a new one out for the next house ?

Eg say someone needs to lend about £20,000 more would that just be added to their existing mortgage and pay a bit extra each month or would they have to close the one mortgage and pay fees to take out a new mortgage. Please.

Always the old mortgage is paid off and the new one taken out. This is because mortgages are charged to the deeds of the property.

So you would use the money paid by the buyer to clear the mortgage on the old property and the money left over+ savings + new mortgage go to buy the new property.

Sometimes the current lender will offer the ability to "port" the mortgage to the new property. That just means they will keep you on the same deal eg fixed rate but move the mortgage. So sometimes you get a mortgage in 2 parts, the existing deal for the old money and the new deal for the new money. Otherwise you pay off the old and take out the new mortgage.

The fees are part of the moving costs, unless you find a lender offering a fee free deal.

wendyak

emerald21 wrote: »

Good Afternoon all. Can I ask anyone who has bought a house lately 1) Do you have to finish off your existing mortgage first then take a new one out for the next house ?

Eg say someone needs to lend about £20,000 more would that just be added to their existing mortgage and pay a bit extra each month or would they have to close the one mortgage and pay fees to take out a new mortgage. Please.

sorry, went off on a right tangent there...yes you have to pay off the old one but it is all done on the same day if you are buying, hence "exchange" date.....if this is not possible you can sometimes borrow your buyers deposit and use it for a fee or get a "bridging" loan but they can be a bit more pricey, although not as bad as we expected when we enquired....speak to your solicitor if you have already started the process.

Enterprise_1701C

wendyak wrote: »

afternoon gang
I have been in a very strange place this past few days, quite emotional but quite calm, sort of one minute up and one down with a lot of tears at odd moments.
I had a telephone counselling session that started it as it was not what I needed and it upset me a lot, she decided that I needed to talk to step change but as I discovered that was a BIG mistake as they made me go through all my problems and money woes and then decided that I needed a specialist. At the end I had to call a different number and they couldn't help either so they advised that I talk to CAB
As someone who has spent most of their adult life working within the banking sector I knew there was not a lot that could be done but I went through the motions.......square peg, round hole is my current situation as they cannot deal with anyone who has zero income....... I don't fit their flow charts, lol.
While I was on the phone to the "specialist team" I had to log into my online banking and nearly had a heart attack as my 25% drawdown of my pension had been paid !!!!!!
This made me even more emotional as although it looks a lot, it is not enough to support us for any amount of time and I have lots I could pay off so had to sleep on it and today have settled quite a few credit cards and cancelled a whole load of direct debits.
I am hoping that hubby will start to go into work in May, just to get him used to the routine even though he can't do much yet I am sure it will lift his spriits. First we will have a short trip just to get away from that bloody phone - does anyone else have the one that always rings when youre having a nap, bath, dinner, etc ???
sorry for the long sermon but had to get it all off my chest...... Oh and nearly forgot we had another egg today so chucks are obviously happier than me xx

Wendy, you know you can always come on here and have a moan.

Sounds like you have at least made a start on your debts, that must feel a bit better, and it will be great when your OH can start to go into work, you must be driving each other up the wall at the moment :eek:

We have that phone too, always rings when you are having a nap, though I have taken to taking it with me when I have a shower if I am on my own, that way it doesn't ring :rotfl::rotfl:

Have a hug :grouphug::grouphug: Sounds like you need it xx

In other news, we ended up babysitting the grandkids this afternoon, they spent the afternoon running around the garden like loons :rotfl::rotfl:

Dizzy_Ditzy

Evening all

I've skipped the last 15 or so pages so apologies if I've missed anything

Dizzy_Ditzy

Turns out that I am going to need a hotel near the barclaycard arena in Birmingham in December - any suggestions please?

emerald21

silvercar wrote: »

Always the old mortgage is paid off and the new one taken out. This is because mortgages are charged to the deeds of the property.

So you would use the money paid by the buyer to clear the mortgage on the old property and the money left over+ savings + new mortgage go to buy the new property.

Sometimes the current lender will offer the ability to "port" the mortgage to the new property. That just means they will keep you on the same deal eg fixed rate but move the mortgage. So sometimes you get a mortgage in 2 parts, the existing deal for the old money and the new deal for the new money. Otherwise you pay off the old and take out the new mortgage.

The fees are part of the moving costs, unless you find a lender offering a fee free deal.

Oh thank you for all that but don't these mortgage companies charge you a fee for giving you the mortgage.

wendyak

emerald21 wrote: »

Oh thank you for all that but don't these mortgage companies charge you a fee for giving you the mortgage.

Arrangement fees - they added mine as a separate mortgage even though it was only a few hundred, some dont even charge ...I have just paid it off

bubbs

tweets wrote: »

I can tell you been eating bacon butty look at your chin

You better pack winter clothes for your hols says its going to go cold from tomorrow afternoon and could snow . Said we had snow flurries this time last year. Do I get snowboots back out or not :think:

No butter or ketchup i had wholemeal bread with watercress bacon and cherry vine tomatoes on the side:A

Sarahdol75 wrote: »

Yes heard snow on way next week.

Well done on your weight loss.

Yes i know :eek:
Thanks, but was grrrrrrrr as sts this week and been good, no cheating:(:( cant say i will be the same this week with being away

locarr wrote: »

Good afternoon AJ XX




Just done another waitys shop, no Thirst pockets or fairy!,


did another 2 shops with my cond spends, a £13 & a £15,


schoolboy error goy the mag on both shops but looks like you can only get one a day for free


do we know about these on 3 for £10
£5.79 and 3 FOR £10






Good afternoon again AJ XX

No will look at them thanks, i love lamb but dh hates it so end not to cook it much