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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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Rate switch now or wait???
I’m currently on a 1.6 rate ending in May. My plan was to potentially leave this for a few months on tracker as from what I’ve heard rates may go down. Now, jeez Louise!!! I’m in a panic as are lenders increasing their rates because of the current world situation? If it looks like it does do I risk fixing it now, and for…
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Mortgage declined twice with no reason given
Hi All, I am to MSE and I really need some advice on how to proceed in my current situation for a property that I want to purchase. I had an offer accepted on a property and I engaged with a broker to go through the AIP and submit a formal application. At the this was with L&C who submitted an application on my behalf. I…
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Mortgqge application- Declined :(
Hey, So me and my partner are looking to buy a house together. I am already a joint owner on a property and will be making enough to get a 10% deposit when it sells. I checked through are credit files I have 1 missed payment from March 2020 due to the virus etc it was an oversight as lots going on! Was only £30 which I…
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Confused by mortgage decline
I just wondered if anyone in the mortgage industry ie a broker could shed any light as to why this decline might be the case. Its a buy to let I own. Value £130 Mortgage 66k I asked for further borrowing of £23k for home improvements at my own home which they said was fine. The LTV is fine. However, its been with the same…
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Mortgage Complaint - Private recording, can I share transcript and/or audio with the FOS?
Hi, Long-standing mortgage complaint currently with the FOS where the initial adjudicator rule in my favour but the ombudsman has not upheld my case but I have one final opportunity to submit new evidence. As someone who has worked in finance for over 13 years, albeit, in a different industry I felt I had a very strong…
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Remortgaging 20 year old interest only
Hi all, We’re currently trying to remortgage our home and would really appreciate any advice from anyone who has been in a similar situation. Our current mortgage has been interest-only for around 20 years. We’re now looking to remortgage at around 65% LTV. The difficulty we’re facing is that we recently started our own…
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Overpayment of Mortgage Debacle with Halifax
Did you know that Halifax Building Society is now not automatically reducing the term of your mortgage if you make overpayments to your mortgage? Yes, that is correct. They now reduce the monthly amount you pay for your mortgage and not automatically reduce the term of your mortgage as most lenders do. In fact you are…
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House Unmortgagable Due To Location
Hi All I bought a house in 2021 next to a train track. HSBC happily gave me a mortgage to buy the property. I've just had to have a lot of work done to the house (re-roof etc), and HSBC have now said that due to the location of the house I can no longer get a mortgage on it. I've tried other providers through a broker…
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Remortage frustration
Currently remortgaging for the first time. My broker lead me to believe it would all be straightforward but this week has been a pain. Not exactly their fault, I guess, but I will be making a suggestion afterwards so they can make sure future client experiences better. They initiated the application and then the legal and…
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Future mortgage strategy?
Hi All, I have been lurking here, reading and learning a lot from you. I hope you don't mind if I pop with a question that has been running through my head for a while, just to hear your thoughts and ideas. Me, M45 (halfway through my life, I guess), married, no kids, homeowner since 2016 with a mortgage, outstanding…
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can pay off mortgage, but....
I have an interest only mortgage on my residential home (£145K) 4.2% interest, and an interest only mortgage 5.74% on a buy to let HMO (£120K). I'm in a position where I can pay one of them off, the HMO 5.74% mortgage, but it has 3 years left to run, and has a 3% early repayment fee, £3670. Is it worth a chat with the…
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Remortgage at age 65, interest-only options?
Hi, Can anyone recommend a mortgage broker experienced in later-life remortgages? • I'm 65 and still working • Residential interest-only mortgage now at end of term • Low LTV / strong equity and payments up to date • Looking to refinance via RIO / later-life lending (not high-street banks) Ideally someone who has…
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Making a lump-sum overpayment on my fixed rate mortgage?
Hi all. I'm pretty rubbish at finances and don't have anyone else to ask this… I have already read Martin Lewis guidance and blog on over-payng a mortgage, but still have questions - I'm hoping some of you lovely experts might help me make more sense of what might be best to do. I realise any decision is my…
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Mortgage deposit - amount left over
Currently going through the mortgage process and at enquiries and searches stage. We are putting down a 5% deposit saved in a LISA however due to the interest that is being accrued monthly we currently have around £500 more than the amount required. What will happen to that money when the solicitor requests funds? Does the…
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Overpaying mortgage
Good morning, I'm looking for a quick bit of advice re. overpaying a mortgage. Due to a payrise I find myself in a position to overpay on my mortgage. I can afford to overpay by £200 a month or £2400pa. Am I better to overpay each month straight to the mortgage company or put the money in a cash isa for 12 months then pay…
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Confirming what to do - Remortgage
Hi All, We are one of those people who are coming off a great rate (NatWest 1.72%) from 1st April. We went with L&C in Dec and the best deal showing (and still is on MSE) is HSBC 4.04% deal (no fee) 2 year fixed - but has cash back so despite not being the best % wise, the overall cost is better. We locked that in and have…
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First Direct Life Tracker - Anyone on it?
I am tempted to move my mortgage to this (75% LTV 0.5% above BOE with £490). Currently on HSBC 2 Year Tracker 3.99% ends next summer (75% LTV 0.25% above BOE) TBH I am sick of moving my mortgage around every 2-5 years and like the idea of rates dropping, mine drop too, with a view to fixing straight away should rates ever…
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Mortgage offer received signing a new rental agreement
Hi all I’m after some advice I am currently Living with parents and have received a mortgage offer for a property im purchasing completion will be in the next few weeks once all conveyancing is complete. The property im purchasing will need a lot of renovation works and a small extension. My plan was to continue living…
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Reduced market value purchase from parents
We're buying a house from my parents at reduced market value and therefore are being given £20,000 in gifted equity. Has anyone done this before and who did you use? I've heard some lenders are happy to include the gift towards the deposit meaning we would need less cash ourselves. Ideally we will put between £10,000 to…
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Aldermore - remortgage - home improvement info
Hello. I'm in the process of applying for a remortgage through a broker. We had IVA discharged just over 2 years ago so when we moved we were with Blustone. Re-mortgage options are still limited but going with Aldermore - rate decent and we're wanting to take some equity out for home improvements. We're currently at 65%…
