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  • FIRST POST
    • Former MSE Andrea
    • By Former MSE Andrea 24th Jan 05, 11:31 AM
    • 9,418Posts
    • 22,339Thanks
    Former MSE Andrea
    Remortgage Guide Discussion
    • #1
    • 24th Jan 05, 11:31 AM
    Remortgage Guide Discussion 24th Jan 05 at 11:31 AM



    This thread is specifically to discuss the content of the



    To discuss or ask a question about this article: click reply
    Last edited by MSE Researcher; 15-06-2010 at 11:15 AM.
Page 1
  • knight-on-the-town
    • #2
    • 25th Jan 05, 12:54 AM
    Remortgage Guide
    • #2
    • 25th Jan 05, 12:54 AM
    As this guide is so popular why not make it available as PDF download so all MSEs can enjoy without fuss of a reprinting?
    Last edited by knight-on-the-town; 25-01-2005 at 1:03 AM.
    'A Man Who Knows The Price Of Everything Knows The Value of Nothing' Oscar Wilde
    • bobobrussel
    • By bobobrussel 25th Jan 05, 5:37 AM
    • 118 Posts
    • 11 Thanks
    bobobrussel
    • #3
    • 25th Jan 05, 5:37 AM
    Remortgage Guide - put it online
    • #3
    • 25th Jan 05, 5:37 AM
    I agree with knight-on-the-town. Lets save it a a PDF and then even more people can download and view it. I know that could put strain on the new servers, BUT, a mortgage is probably the biggest debt anyone will have during their lifetime and if you can save money, lots of money, then surely its got to be worth it.

    I for one would like 800 copies so I can distribute them to my local community through our community regeneration newsletter. If you're listening London & Country, PM me and we'll discuss it more.
    • grant1wish
    • By grant1wish 25th Jan 05, 7:09 AM
    • 427 Posts
    • 280 Thanks
    grant1wish
    • #4
    • 25th Jan 05, 7:09 AM
    • #4
    • 25th Jan 05, 7:09 AM
    I tried to get a copy this morning, but can't believe how popular they have been. I am about to remortgage, so the guide would have been perfect. Without trying to be too cynical, I wonder how many people actually have ordered a copy but are not about to remortgage! If anyone ordered one, but now realises that they have run out already and didn't actually need their copy I would really appreciate it!.

    G1W
  • jock the anorak
    • #5
    • 25th Jan 05, 7:20 AM
    Mortgage guide
    • #5
    • 25th Jan 05, 7:20 AM
    Agree with the other posts on the subject re putting the guide on .pdf format.

    Great site Martin .......saved me 100's already !
  • Kennys1
    • #6
    • 25th Jan 05, 7:27 AM
    endownment surrender
    • #6
    • 25th Jan 05, 7:27 AM
    we sold our endownment after mis-selling problems, but now we are looking for some other investment plan to help us get the 22k that we have left after current term which is interest only and over 7 yrs. We have also got our daughter 24k out of the equity she has also 7yrs on term for her it is also interest only, she is 25 yrs old come April could anyone share their thoughts on which options are best for us.
    Last edited by Kennys1; 25-01-2005 at 7:29 AM.
  • petestewart
    • #7
    • 25th Jan 05, 4:26 PM
    • #7
    • 25th Jan 05, 4:26 PM
    Making the guide available on-line, in either pdf or Word format, makes it freely avail;able to all who might want a copy, and when we loose the original, we will know where to get a replacement quickly.

    Sponsors need not loose out either, as they could add their blurb.
  • knight-on-the-town
    • #8
    • 25th Jan 05, 5:07 PM
    Kepp posting for On-line version
    • #8
    • 25th Jan 05, 5:07 PM
    Please keep adding in support of this thread. This sound like its the Remortgage Bible ... cant really wait 4 weeks for a reprint and suspect that will be gone as fast as the last. On-line PDF version would save lots of time, money and postage and is environmentally friendly in paper saving! Guess Martin cant read all postings so anyone know how we can get message to him to request on-line version? Untill then I guess the more posts added here in support the better!
    'A Man Who Knows The Price Of Everything Knows The Value of Nothing' Oscar Wilde
    • MSE Martin
    • By MSE Martin 25th Jan 05, 6:37 PM
    • 8,116 Posts
    • 42,310 Thanks
    MSE Martin
    • #9
    • 25th Jan 05, 6:37 PM
    The Mortgage Guide
    • #9
    • 25th Jan 05, 6:37 PM
    Hi Folks,

    Whilst I understand what you are saying. Unfortunately putting it in PDF isn't possible. As you'll note this isn't just a MSE publication - it's agreed with a sponsor and I need to play fair with them. (I want to do more guides in the future and the only way to pay for them and the resource for them is via this way).

    We've secured 15,000 more and they should be around pretty quickly. I'm really sorry people didn't get.

    However in the meantime the online mortgage guide is 5,000 words long - all the core info is there and if you read it in conjunction with

    "sneakily get the best mortgage advice for free"
    and
    "how to choose between a fixed and discount rate"

    You'll be very close to the final guide itself.

    Martin
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • knight-on-the-town
    A way forward?
    Appreciate your reply Martin.

    I suspect the next 15,000 will be gone just as quick.

    1. Is it possible to apply for one in advance i.e. so those who want one can sign up now.? Would it not be helpful if you could assess the demand in advance and go back to the sponsors and say we have advanced orders for 'X' number of copies? I suspect demand may be double or treble the 15,000 reprint.

    2. Is it possible to raise the possibility of a PDF version with the sponsor? It will save postage, time and hassle. The paperless version would also be a 'greener' option something I would have thought the sponsors would have wanted to promote and associate with given the impact of global warming and everyone doing what they can to do their bit to reduce it.

    PS Great site... my comments are hopefully constructive
    'A Man Who Knows The Price Of Everything Knows The Value of Nothing' Oscar Wilde
    • payless
    • By payless 26th Jan 05, 8:36 AM
    • 6,591 Posts
    • 2,348 Thanks
    payless

    2. Is it possible to raise the possibility of a PDF version with the sponsor?
    by knight-on-the-town
    I would assume that the sponsors are keen to gain some contact details
    ;-)
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • newbee
    Advice Needed
    I am getting married in November of this year and the funding for this is to come from the remortgage of our property. However we need the funds prior to Oct 2005 and still have redemption penalties on our existing mortgage until May 2006.
    We have been advised not to take a secured loan as the interest is added to the balance immediately and therefore should we leave the mortgage to May 2006 to then remortgage to pay off this loan all of the interest would be due - I am worried however that this advice has been given by Financial Advisors desperate for their fee from a lender due to a remortgage.
    Our cirrent rate is 7.4% and we have been offered a remortgage with a different company of 7.2% approx our redemption penalties would be around 3500. And we're in the unfortunate situation of having a less than brilliant credit score.

    Please help - any advice would be great x
    • bobobrussel
    • By bobobrussel 20th Mar 05, 10:06 PM
    • 118 Posts
    • 11 Thanks
    bobobrussel
    Did I read the last message right? You want to remortgage your property to pay for your wedding! I'd pot off\the wedding until May 2006, then transfer to someone like EGG. We recently did that and saved a fortune compared to our previous lender. Rhen if you really need to have the grand wedding and homeymoon, borrow the money at the lowest rate possible, maybe even a credit card balance transfer at 0%

    How much is it costing? We chose to go to Gretna Green and get married over the Anvil, in the traditional romantic way. Drove there, got married, went to local hotel for lunch then drove home and announced it to all the relatives. Total cost 400. Surprisingly, very romantic, very memorable and something I'll treasure for a long time. Best of all, no pressure from relatives about what to wear, style of wedding, venue, cars, honeymoon, etc. I definetly would recommend it.
  • bridiej
    I personally think you'd be crazy to remortgage to finance a wedding, you'll end up paying for it for the rest of the mortgage term and the interest will really mount up.

    Can you get married on a tighter budget? We had our big day and spent 1500 which included everything, even my dress!

    There are some discussions on this in the Family section.

    I agree with the previous comment, couldnt you take out a small loan and then transfer it to Egg or another 0% balance transfer card?

    I just pop in now and then....
    transcribing
  • Money Cub
    Requested and received my copy within two days, thanks Marty.

    • pingu
    • By pingu 24th Feb 06, 5:16 PM
    • 1,418 Posts
    • 328 Thanks
    pingu
    hi

    is this the new guide?

    because i have one from few months back!
    Honesty is the best policy doesn't matter which web site
    you are on!

    if i had known then what i know now!

    a bargain is only a bargain if you really need it!
    • AircraftHandler
    • By AircraftHandler 18th Jul 06, 1:23 PM
    • 125 Posts
    • 18 Thanks
    AircraftHandler
    Mortgage Advice needed???
    Hi there. Me & my Fiancee have a joint mortgage with Northern Rock. We took a Mortgage for 99500 over 35 years at an apr of 6.19% we also borrowed 20500 on top of that to pay off existing debts & make plans on the house we have bought. Our monthly direct debit is 700. We have been living at the house for over a year & we have been looking to move mortgages to someone else but we have a redemption fee of 3000 so we are still in two minds. I have signed up to receive the guide to re-mortgaging to read what that has to say. Our combined income is 36000 pa & im in the Armed Forces so im garunteed a wage for the rest of my career but my Fiancee has just started her job so is that a problem? Our credit score is average also as we were not down on the electoral role but all that has been taken care of & it has been updated on my credit file.

    I'm just after some info on what is available to us?

    Please ask any questions & i will answer them

    Your help is greatly appreciated.

    Ty&Ally
    • Ian W
    • By Ian W 18th Jul 06, 8:29 PM
    • 3,717 Posts
    • 2,075 Thanks
    Ian W
    Hi AircraftHandler,
    You'd have been better posting this as a new thread - this one's really to comment on the guide rather than answer specific remortgage questions I would have thought.

    The only reasons to remortgage when you've got £3k in penalties is to save money overall or, as a last resort - if you can't afford them - reduce your monthly payments by getting a lower interest rate.

    You need to say whether the £20500 is part of the mortgage and at the same interest rate or one of these so called 125% mortgages which actually involves part of it being an unsecured loan.

    If it is then part of the mortgage then there isn't much scope for saving by paying penalties. £120K at 5% = £6000pa interest, at 6.19% = £7428, so given the fact you'll probably end up paying £600 or more in fees a market leading just under 5% 2 yr deal is going to end up more expensive and 3/5 yr deals [fixed at least] now mainly seem to be over 5% so again the savings are pretty finely balanced.

    If it is one of these above 100% deals your house would need to have gained significant value in the last 12 months to make it even possible, ie it would need to be valued at £126K+ to get a 95% remortgage that covers all you owe NR.

    HTH - if you can clarify and post on a new thread I'm sure one of the helpful mortgage brokers who post on here will answer.
  • tony3
    remortgage guide
    Hi, Is there anyone who could give me some advice? I've just inherited half a house and want to raise money to buy the other half. Real novice, don't know where to start, be grateful for any suggestions?
    Tony3
  • dian477
    l have an issue with abbey....l have been unable for some years to find out state of play with my morgage or morgage payments...they ceased some years ago to notify me of interest changes and how they affected any monthly payments l was paying...and no l don't pay by standing order..l travel 30 mile round trip to pay them personally...and the girls in their branch have been unable to help..save give me phone numbers that no-one replies on, my year end statements do nothing to clarify things...save to let me know theres no short fall...but thats all down to me frantically overpaying to stop that happening...l'm disabled and on benefits...it all makes for sleepness nights...l'm persuing their complaints procedure at moment to try and get compensation for how they have treated me...as in my situation even 5 saved a month makes a big difference..its early days yet...as they have only offered 100...which l deem an insult given the extreme hardship they have caused me...interestingly l was given recently a number to ring to find final figure on your morgage should you wish to pay it off...now they answered on that number!!!!

    if anyone else has had simialr issues l would be grateful for some advice ...as l suspect many people on benefits and not well off might be getting the same treatment...and its needs to stop
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