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Mortgages & Endowments sticky
Please be aware of the MSE Forum rules when posting on this board, notably: * If using the Forum as a professional, please note that posting on behalf of your business is only permitted if you are an MSE verified user. * Advertising and spam are not permitted. * Do not share any personal information, such as your own or…
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Offset Mortgage: Mortgage Interest period vs Savings Interest Period
Hi All, I took an offset mortgage and fortunately I managed to accumulate some savings. So I'm on a mortgage of 165k with savings of 140k at an interest of 5.25% I have been paying an interest amount of around £80 per month for Dec, Jan, but in Feb, that £80 jumped to around £140. I was surprised and called the provider.…
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How to fund home extension.
Dear all, I am currently mortage free. House is valued at approx £460k. I have gone with lowest estimate based on past sale prices and identical properties. Me and wife both mid 40s are NHS empolyed. Our household income is around £155k. I earn another £40k per year as locum. But this gets paid into my limited company.…
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Sub sales and Back to back transaction Mortgage
Hi All, does anyone know or have had experience with Sub sales and Back to back transaction? I am in the process of buying a house that has been owned for less than 6 months, not yet on the land registry but seller will provide transfer deed. I am looking for a morrgage can deposit up to 25%.
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Sub sale mortgage
I'm interested in a property being sold by an online estate agents. They have told me it's a sub sale less than 6months from original purchase which was purchased by a different section of the same company. So what I can see they would have bought it as a fast cash sale within 7 days type thing and now are reselling it at…
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Money on Mortage or ISA?
Hi everyone, I just want your opinion on how what's the best way to put my salary. Would you recommend to put it in ISA and use the interest to slowly pay off the mortage as per the monthly minimum payment or all in mortage for overpayment since my interest rate is only under 1.5% (purchase during the pandemic). Thanks!
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Anxious about remortgage
As the thread title suggests, I'm feeling very apprehensive. I'm due to re-mortgage from a 5 year fix in early January. I currently overpay by £250/month and put a few thousand down not long ago. Overall, I'll have reduced my mortgage by £20k in 18 months. I'll have a 50% LTV. In January, what I pay now would have be…
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Source of funds checks – how far back do they go?
I’m trying to understand what’s typically expected when solicitors check the source of funds for a property purchase. How far back do they usually look at bank history, especially for larger deposits? Also, are digital bank records (like transaction data from banking apps) generally accepted, or do firms still prefer…
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Remortgaging on deal that expires in March 2027
Hi, I noticed that the remortgage rates have jumped up by at least 1% with the war on Iran. My current, very sweet deal, taken before Sept 2022, is expiring in March 2027. How far ahead of the expiration date should I start remortgaging? I'd normally start 6 months ahead as the MSE guide suggests, but I am hoping against…
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Optima Legal remortgage - Civil Servant not in occupation list?
I'm remortgaging and on my mortgage application I put Civil Servant for occupation. I have been successful and been given a mortgage offfer and am just starting the process with Optima Legal. But their occupation box does not have "Civil Servant"! And there is nothing even close that I could think to put? Any other Civil…
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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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Nationwide Mortgage application - Scotland
Hi all, Has anyone recently when through a Nationwide mortgage application in Scotland that would able to tell me their timelines of it? Our application went in on Monday (1/7/24) a hard search was done that day aswell, so just wondering how long we would wait for an outcome. They have the home report for our new house so…
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Requesting permission to run small business from home?
I have a mortgage with Halifax and I am currently in the process of trying a start up business. An idea that has been brewing for years, but I'm a procrastinator/self-doubter. This is the furthest I have ever tried to get with an idea. One hurdle I wasn't expecting is that it may be an infringement of my mortgage terms to…
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Nationwide Underwriting (Scotland)
FTB buying in Scotland at £225k (Home report value £240k). Income: £52k. Loan: £205k (9.1% LTV) over 34 years. Debts: Car HP £421. Current Status: Application with underwriters for full assessment. Original application was for 95% over 35 years, Nationwide came back and asked for the term or deposit to be increased. Term…
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Mortgage broker messed up
We arranged for our mortgage to switch to a new product (with the same lender) on 1 April through a large, well‑known broker. Everything was completed in February, and we were told the new rate would automatically take effect on 1 April with nothing further required from us. For context, I hadn’t realised we would be…
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Remortgage
Trying to decide what to do… my 5yr fixed term mortgage ends in October. Currently on 1.35% (wishing I took out 10 years but thats hindsight!) … I’m a sole company director for my limited company. Mortgage currently with virgin money, ideally I’d do a product transfer but earliest I can do this is June. Virgin money was…
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Offset Mortgages
I wanted to make people aware that when they have an offset mortgage the provider still takes money from you. I have a Barclays off set mortgage that is fully set off (for over 6 months). Due to the way they collect interest they still takes a payment from you even though no interest is outstanding. They then use this…
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Experience with HSBC and LMS while remortgaging
Hi everyone, My partner and I are trying to remortgage with HSBC and we went for the free legal service because our case is a very straightforward case that could be completed quite fast. I believe HSBC instructs LMS who then assigns a conveyancer to your case, but our conveyancer turned out not to have digital deed…
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Short Term Options during separation
My long term partner and I have split up and she has moved out leaving our children and me in the house. We had similar incomes so had always split the bills - since she moved out she has stopped contributing so my household income has dropped by 50% but all the outgoings remain the same - this isn't manageable and the…
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We didn't know what to do, so we did this
Remortgage time, didn't want to change any terms of repayment or add to the mortgage so in our minds with all the turbulence until he works right now we decided for a no fee product with our current lender to a two year fixed at 4.73%. A bit of a choker when our current 5 year fix was 2.2% but not the worse Hoping things…
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Has anyone ever stuck with a lifetime tracker?
Didn't really get much advice last time but I am close to accepting and drawing down on… 186k at 4.24%, 0.49% above base rate, 25 years, £490 fee. If rates go down, 3.99% is better than most major fixes at the moment, if it goes up, I will weather until I fix long term again on a rate switch.
