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BTL current house, release equity and buy new house?
I'm not clued up on buy to lets but can you tell me if this is feasible? I own a house, which has recently been valued at £160-£170k. I have a £68k mortgage on it. 2 houses down (exactly same house) has just been put up for rent at £795 pcm. 4 bedroom detatched 3 storey, garage, and would rent mine furnished so imagine…
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First time buyer
I know you guys must get loads of these sorts of posts but I am interested in buying a house/flat. I recently graduated and have been working for over a year in the NHS. In this time have have made my way up the ranks a bit and have a half decent salary for a 22 year old. Currently my basic pay is just over £20k but…
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Q about borrowing on mortgage to invest
I'd been plannig to sell my house, which cost around £50,000 and is now worth about £150,000, and renting for a while, and trying to invest the profit while the housing market settles down. I've now been pursuaded that if I want to invest I'd be better off keeping hold of a property and borrowing against the value, then…
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Help me understand my endowment statement!
Hi, I have been recently looking over my mums endowment mortgage to help plan for the future. Her last statement for one of the £5000 endowments (Scottish Provident) reads: Basic with-profits sum assured £1725 and Annual bonuses - 2006 addition nil, new total £1689.80. This may be a stupid question but can I assume that…
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Getting a mortgage while on maternity leave
Hello, My husband and I are looking at moving house and so will need to increase our mortgage by around £25k. I am currently on maternity leave as I am due to have a baby in about a week so have a lot longer left on maternity. I was just wondering if anyone has any experience of applying for a mortgage when on maternity…
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Mortgages & credit file
Hi, I wish to apply for a mortgage but have outstanding debt, due to stoozing (approx 30k). Would a lender reject an application for this? Also, when they do a credit search, do they base their decision on a number put forward by the credit agency, or do they do it by looking at what debt you have and with which lender?…
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Standard Life changing SVR but not due to BOE
Hi This is my first post here and I wonder if anyone can help please. We have a Discounted Standard Life Freestyle "Standard Variable Rate". We have been with them for 1 year and the mortgage is discounted for 2 years. We received a letter this weekend stating that they are increasing the SVR by 0.15%, the reason being and…
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Re-Mortgage with bad credit?
Hi all, I would really appreciate anyone's advice on this matter. Myself and my OH are looking to buy a property in the near future, however i have a poor credit history due to several late payments on CC's and car loan. My total unsecured debt is approx £17000 with an annual income of £20000. My OH has very good history…
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broker commission on same lender remortgaging
Do lenders pay commission to brokers for retaining customers? I have a fixed deal finishing soon and want to know if the lender would pay a broker commission for sorting me out a new deal with the same lender.
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Mortgage Rates Coming Down Next Year (error fixing rate now?)
A number of newspapers have been reporting that interest rates are likely to fall early next year, by as much as .75% (3 drops predicted). See: http://business.timesonline.co.uk/tol/business/economics/article2872853.ece As I only signed up to a five year fix repayment at 5.63% earlier this week (7.24% SVR) on over…
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Re-mortgaging
Hi, I thought I would put some figures on here and hopefully get some good advice as to what to do with re-mortgaging. My 2 yr fixed (4.24%) is ending at the end of the month, the mortgage is for £88,000 over a property of £140,000. Just seen an IFA who recommends that I stay with Alliance & Leicester and take their 2 yr…
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Nat west/one account advice please
Hi everybody I am looking for advice on whether i am suited to using the one account and hope that someone can help me. I have read the thread started by salty 69 which has been running and can't make my mind up if it would be a good thing or not. Here's my situation: Looking to move, house valued at £85,000, exisating…
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Re-mortgaging, worried about 5yr offer
Hi First post here!Me and my husband are 65 and he is coming close to retirement.We are currently struggling a little with our finances, and also have our house up for sale and hope to sell witihin the year, however during this time we still need to live so have decided to remortgage our house so we can have money for the…
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First time mortgage...
I'll keep this as short as I can! About 5 years ago I moved from Cumbria where I grew up, to Leeds for a job. Between then and now I lived at 5 or 6 different addresses, all rented. I ran up a large amount of debt on various credit cards and loans which, due to an inheritance, I managed to pay off about 2 years ago. These…
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arrangement fees vs no arrangement fees
Im looking around to remortgage in early 2008 when my 5 yr fixed term comes to an end, and looking at most companies they offer 2 mtg's for most deals, one with arrangement fee's etc and one without. The one without rate is slightly higher, im guessing the fees are sort of incorporated into it somehow? Is there a rough…
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What is the best mortgage?
We owe £55,000 to the Abbey. At present we have an interest only mortgage after having some problems when my husband was out of work. We are now in a position to renegotiate with them for a new mortgage. My husband is 56 and we would like to clear the debt in ten years maximum. What type of mortgage would be best? Any…
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Mortgage options for a freelancer
Hi, I'm looking at a mortgage for the first time, i'm 29 and lived with my partner for 7 years until recently. Although I paid half of everything the mortgage was in her name so this is the first time i've had a mortgage myself. I'm a freelance software developer with a limited company, i've been trading since March this…
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please please help repossession
Hi long story Trying to be short. But please help My husband died nearly 2 years ago. The mortgage is in his name. I havent had the money to transfer over to me. I do work. In january last year the house was repossessed. I went to court and an agreement was made where i would pay so much off the arrears. This year I have…
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Is it too late mis sold endowment, HELP PLEASE
We took out our endowment policy in 1987 to cover our mortgage of 21,000 I have just received a letter to say it is to mature in December this year and will make 18,785. I complained to the firm who sold it in May 2006 who wrote back saying they are not responsible as this took place before April 1988 when financial…
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Mortgage Question
I've been remortgaging my house recently and have signed up for a 5 year deal from the Westbromwich Building Society. We are possibly thinking of moving house within this period, but was wondering if we would be tied into only getting mortgages from the Westbromwich, or could we look at other companies for the amount above…