I bought a house for cash, and now want a mortgage to raise money. Do I need a remortgage or a regular mortgag
Q. As the questions says... I just bought a house and want to get a mortgage to pay back my parents who loaned me the cash to top up my purchase. I am confiused, however, do I require a regular mortgage or a remortgage?
Asked by idnzor - Fri Jul 25 09:14:41 2008 - - 7 Answers - 0 Comments
Q. As the questions says... I just bought a house and want to get a mortgage to pay back my parents who loaned me the cash to top up my purchase. I am confiused, however, do I require a regular mortgage or a remortgage?
Asked by idnzor - Fri Jul 25 09:14:41 2008 - - 7 Answers - 0 Comments
How long does a remortgage take?
Q. We are currently going through a remortgage, first time we have done this since we bought our house. We have had everything accepted, survey completed etc. The solicitors have a copy of our buildings and contetnts insurance and I gave them the account details for our existing mortgage on Friday. How much longer will it roughly take before our current mortgage is cleard and we have the new mortgage and funds? Eager to start extending the bathroom! We are in Scotland, don't know if that makes a difference. SJ
Asked by SJC - Mon Aug 27 14:56:49 2007 - - 4 Answers - 0 Comments
A. Took me four or five weeks five years ago
Answered by baby_face_paris - Mon Aug 27 15:01:34 2007
Q. We are currently going through a remortgage, first time we have done this since we bought our house. We have had everything accepted, survey completed etc. The solicitors have a copy of our buildings and contetnts insurance and I gave them the account details for our existing mortgage on Friday. How much longer will it roughly take before our current mortgage is cleard and we have the new mortgage and funds? Eager to start extending the bathroom! We are in Scotland, don't know if that makes a difference. SJ
Asked by SJC - Mon Aug 27 14:56:49 2007 - - 4 Answers - 0 Comments
A. Took me four or five weeks five years ago
Answered by baby_face_paris - Mon Aug 27 15:01:34 2007
Will financing a car now affect my credit score when i remortgage my house in the next few weeks?
Q. Should i wait to buy the car? Or snap up the deal ive seen? I want to remortgage my hosue when rates hit what im looking for, im not sure when that will be, would financing say 25,000 mess up my score? i have 700+
Asked by Nani N - Thu Mar 5 15:25:34 2009 - - 1 Answers - 0 Comments
A. Absolutely! The several things you should never do when purchasing or refinancing your home include: 1 - making a major financial committment such as purchasing a car 2- going on vacation the week before you plan to close 3- quit your job or tell anyone around you that you plan on quitting your job prior to closing 4- overexercise credit cards. These things don't affect your credit score, they affect the bottom dollar amount you are able to borrow (which in most banks equals 40% of your gross income whichcovers credit cards debt, student loan debt, auto loan debt), and not having your current job for at least 6 months prior to closing. Wait to purchase your vehicle until after closing on your home loan; if the dealership will… [cont.]
Answered by jestducki - Thu Mar 5 15:40:30 2009
Q. Should i wait to buy the car? Or snap up the deal ive seen? I want to remortgage my hosue when rates hit what im looking for, im not sure when that will be, would financing say 25,000 mess up my score? i have 700+
Asked by Nani N - Thu Mar 5 15:25:34 2009 - - 1 Answers - 0 Comments
A. Absolutely! The several things you should never do when purchasing or refinancing your home include: 1 - making a major financial committment such as purchasing a car 2- going on vacation the week before you plan to close 3- quit your job or tell anyone around you that you plan on quitting your job prior to closing 4- overexercise credit cards. These things don't affect your credit score, they affect the bottom dollar amount you are able to borrow (which in most banks equals 40% of your gross income whichcovers credit cards debt, student loan debt, auto loan debt), and not having your current job for at least 6 months prior to closing. Wait to purchase your vehicle until after closing on your home loan; if the dealership will… [cont.]
Answered by jestducki - Thu Mar 5 15:40:30 2009
Mortgages- Can I pay a remortgage that my retired mother gets on her house on her behalf?
Q. I would also like to know if the fact that she is retired would affect if she could get a remortgage that me and brother could pay for on her behalf. I live in London, United Kingdom. Any answers are greatly appreciated
Asked by brain - Sun Mar 18 05:32:54 2007 - - 1 Answers - 0 Comments
A. Would it not be better to speak to a mortgager? They will tell you exactly what their requirements are. There is no reason you cannot do that, but there might be (donations) tax implications, and the bank will definitely put things in place to make sure somebody pays the loan. E.g. if your mother is 105, and takes out a 20 year loan).
Answered by Piet Strydom - Sun Mar 18 05:47:34 2007
Q. I would also like to know if the fact that she is retired would affect if she could get a remortgage that me and brother could pay for on her behalf. I live in London, United Kingdom. Any answers are greatly appreciated
Asked by brain - Sun Mar 18 05:32:54 2007 - - 1 Answers - 0 Comments
A. Would it not be better to speak to a mortgager? They will tell you exactly what their requirements are. There is no reason you cannot do that, but there might be (donations) tax implications, and the bank will definitely put things in place to make sure somebody pays the loan. E.g. if your mother is 105, and takes out a 20 year loan).
Answered by Piet Strydom - Sun Mar 18 05:47:34 2007
Is it a good idea to remortgage house to consolidate debt?
Q. My husband and I are looking into refinancing to consolidate our debts, it'll pay our credit cards, car payment etc...the lower monthly payment sounds great but I'm afraid it'll be more trouble than it's worth. Does anyone have any tips, suggestions, questions we should make sure we know before we say yes?
Asked by mandy608 - Wed Oct 25 17:42:19 2006 - - 5 Answers - 0 Comments
A. It can be very beneficial - if you stop collecting more debt! Be sure to use a reputible loan officer. There are laws out there to protect you. If you have enough equity in your house and your credit is good enough where you can get enough money out of your house to make it all make sense, you should do it. Make sure you're not paying the same amount of money that you're getting back because that would not make sense. Be clear if you want your mortgage company to pay the bills directly for you or if you would like to get the cash and pay them yourself. Also, I suggest that if you do this, you should get some extra cash out for a cushion if something happens.
Answered by melspur82 - Wed Oct 25 17:57:24 2006
Q. My husband and I are looking into refinancing to consolidate our debts, it'll pay our credit cards, car payment etc...the lower monthly payment sounds great but I'm afraid it'll be more trouble than it's worth. Does anyone have any tips, suggestions, questions we should make sure we know before we say yes?
Asked by mandy608 - Wed Oct 25 17:42:19 2006 - - 5 Answers - 0 Comments
A. It can be very beneficial - if you stop collecting more debt! Be sure to use a reputible loan officer. There are laws out there to protect you. If you have enough equity in your house and your credit is good enough where you can get enough money out of your house to make it all make sense, you should do it. Make sure you're not paying the same amount of money that you're getting back because that would not make sense. Be clear if you want your mortgage company to pay the bills directly for you or if you would like to get the cash and pay them yourself. Also, I suggest that if you do this, you should get some extra cash out for a cushion if something happens.
Answered by melspur82 - Wed Oct 25 17:57:24 2006
How can i remortgage my house to create more equity?
Q. I am looking for more equity to back up my pension
Asked by michaelchurcheaton - Mon Oct 9 06:26:25 2006 - - 4 Answers - 0 Comments
A. Equity in your house is its value less any outstanding mortgage. To increase your equity, you must reduce your mortgage borrowing by paying more off the balance. You can use the value of your property as savings for pension so long as you realise that the only way to release the equity is to sell your house. Downsizing is a tax free way to fund retirement.
Answered by myownprivateroad - Mon Oct 9 06:39:37 2006
Q. I am looking for more equity to back up my pension
Asked by michaelchurcheaton - Mon Oct 9 06:26:25 2006 - - 4 Answers - 0 Comments
A. Equity in your house is its value less any outstanding mortgage. To increase your equity, you must reduce your mortgage borrowing by paying more off the balance. You can use the value of your property as savings for pension so long as you realise that the only way to release the equity is to sell your house. Downsizing is a tax free way to fund retirement.
Answered by myownprivateroad - Mon Oct 9 06:39:37 2006
If you quit claimed property during a divorce per the "deal" can I sue if they didn't remortgage?
Q. When my husband was going through a divorce he quit claimed his house to his ex's parents. The deal was they gave him $3,000 and would remortgage the house and obviously make the payments. He never received the $3,000. We found out that the house foreclosed while different family members were living there because of no payment. Now he has a foreclosure on his credit. Can we sue them or do anything to change this? The deal was signed in writing. Unfortunately, he was kicked out of the house and wasn't given most of his stuff, so he doesn't have it. The divorce agreement said to sell the house and divide it all by half, but obviously that never happened.
Asked by steph - Sun Dec 30 20:39:57 2007 - - 1 Answers - 0 Comments
A. Was "the deal" signed to in writing by all parties? Consult a lawyer.
Answered by bud68 - Sun Dec 30 20:43:04 2007
Q. When my husband was going through a divorce he quit claimed his house to his ex's parents. The deal was they gave him $3,000 and would remortgage the house and obviously make the payments. He never received the $3,000. We found out that the house foreclosed while different family members were living there because of no payment. Now he has a foreclosure on his credit. Can we sue them or do anything to change this? The deal was signed in writing. Unfortunately, he was kicked out of the house and wasn't given most of his stuff, so he doesn't have it. The divorce agreement said to sell the house and divide it all by half, but obviously that never happened.
Asked by steph - Sun Dec 30 20:39:57 2007 - - 1 Answers - 0 Comments
A. Was "the deal" signed to in writing by all parties? Consult a lawyer.
Answered by bud68 - Sun Dec 30 20:43:04 2007
Should I remortgage my house to pay of my credit card debt? My adviser says I should..?
Q. My house is worth approximately 200,000 pounds and I have a small mortgage for 30,000 I recently became self employed and needed to borrow to finance a car and some business premises, plus I have to pay the bills. Hence the credit cards have started to creep up. i.e. I owe 30,000 to c.card companies and bank loans. What should I do my income hasn't really taken off and my advicer says that's ok I can do a projection and he can sort a mortgage out for me. Can you help?
Asked by mortgage4u - Fri May 5 05:33:34 2006 - - 8 Answers - 0 Comments
A. When you owe money, creditors get good at collecting. It my take a while, but they will come after it. Having said that, if mortgaging your house means you will have lower monthly payments to allow you the breathing room you currently need for your new business - it MAY make sense. Understand, lower monthly payments, just means lower payments, not lower overall cost. With a mortgage, the total dollar figure can be quite large - especially when you factor in fees. If you can get an alternative loan, at a reasonable rate, consider that - it is a good idea to keep your business affairs separate from you personal. Good Luck!
Answered by SimpleMoneyGuy - Fri May 5 23:15:01 2006
Q. My house is worth approximately 200,000 pounds and I have a small mortgage for 30,000 I recently became self employed and needed to borrow to finance a car and some business premises, plus I have to pay the bills. Hence the credit cards have started to creep up. i.e. I owe 30,000 to c.card companies and bank loans. What should I do my income hasn't really taken off and my advicer says that's ok I can do a projection and he can sort a mortgage out for me. Can you help?
Asked by mortgage4u - Fri May 5 05:33:34 2006 - - 8 Answers - 0 Comments
A. When you owe money, creditors get good at collecting. It my take a while, but they will come after it. Having said that, if mortgaging your house means you will have lower monthly payments to allow you the breathing room you currently need for your new business - it MAY make sense. Understand, lower monthly payments, just means lower payments, not lower overall cost. With a mortgage, the total dollar figure can be quite large - especially when you factor in fees. If you can get an alternative loan, at a reasonable rate, consider that - it is a good idea to keep your business affairs separate from you personal. Good Luck!
Answered by SimpleMoneyGuy - Fri May 5 23:15:01 2006
Hi is it possible to remortgage at 65?
Q. Hi would my my parents be able to take out a mortgage to the tune of 25% LTV my father is 65 self employed & still working & my mother is 60 working part time. Currently House is paid for.
Asked by bty56999079 - Thu Nov 26 12:58:10 2009 - - 5 Answers - 0 Comments
A. Assuming you are in US - Yes. The banks look at earnings, assets, LTV to make the decisions. If they are pulling a mortgage however, since rates are massively low, they should look at taking 50% at a minimum. I have a family member that just pulled an 80% LTV at age 70, so age is not the primary factor in determining a loan. I believe that would be discriminatory if it were.
Answered by Twitter Bird - Thu Nov 26 13:37:06 2009
Q. Hi would my my parents be able to take out a mortgage to the tune of 25% LTV my father is 65 self employed & still working & my mother is 60 working part time. Currently House is paid for.
Asked by bty56999079 - Thu Nov 26 12:58:10 2009 - - 5 Answers - 0 Comments
A. Assuming you are in US - Yes. The banks look at earnings, assets, LTV to make the decisions. If they are pulling a mortgage however, since rates are massively low, they should look at taking 50% at a minimum. I have a family member that just pulled an 80% LTV at age 70, so age is not the primary factor in determining a loan. I believe that would be discriminatory if it were.
Answered by Twitter Bird - Thu Nov 26 13:37:06 2009
is it better to get a remortgage or get a bridging loan?
Q. we want to buy another house but still keep this one.so we would need to get the equity out of our present house to do it .which is the cheapest option do you think? the mortgage we have is fixed for life would that have to change with either of these options
Asked by wildecat - Thu Feb 4 08:43:24 2010 - - 7 Answers - 0 Comments
A. Closed Bridging Loans used to be readily available for those who had an agreed exit route already arranged by either the sale of the property or by re mortgaging the property. Now the only option is Open Bridging Loans. So what? you say. Using closed bridging finance it was possible to borrow the amount of the re mortgage offer even if this was greater than the purchase price of a property, at a fixed rate for a fixed period. Why has this happened? To understand this we will look at the two types of Bridging Finance that has traditionally been available. There are mainly two types of bridging loans, closed bridging where the exit is pre arranged and open bridging where it can be anywhere within a pre agreed time scale. With Open Bridging… [cont.]
Answered by P - Thu Feb 4 09:27:54 2010
Q. we want to buy another house but still keep this one.so we would need to get the equity out of our present house to do it .which is the cheapest option do you think? the mortgage we have is fixed for life would that have to change with either of these options
Asked by wildecat - Thu Feb 4 08:43:24 2010 - - 7 Answers - 0 Comments
A. Closed Bridging Loans used to be readily available for those who had an agreed exit route already arranged by either the sale of the property or by re mortgaging the property. Now the only option is Open Bridging Loans. So what? you say. Using closed bridging finance it was possible to borrow the amount of the re mortgage offer even if this was greater than the purchase price of a property, at a fixed rate for a fixed period. Why has this happened? To understand this we will look at the two types of Bridging Finance that has traditionally been available. There are mainly two types of bridging loans, closed bridging where the exit is pre arranged and open bridging where it can be anywhere within a pre agreed time scale. With Open Bridging… [cont.]
Answered by P - Thu Feb 4 09:27:54 2010
Is it possible to remortgage on the the value the house will be worth after work is carried out?
Q. My house is currently worth 85,000. I am aware it would be worth substantialy more if certain work was done. As the house was in poor condition when I bought it & needed more doing to it than originally anticipated I ended up securing a loan on the property as well as taking out a personal loan to do up the house which I manage perfectly well to pay each month. Even so, there is still alot that needs be done & I have run out of funds. I am considering remortgaging to complete the work but if I was to do this I would think it sensible to clear my outstanding debts at the same time & at my houses current value it wouldnt be possible to do both. Is it possible for me to get a valuation of my property based on what it would be worth if I do… [cont.]
Asked by Chell - Tue Jul 8 04:47:09 2008 - - 6 Answers - 0 Comments
A. Yes you can However it is normal for the extra value to be retained until the improvement work is carried out. eg if worth 85K now but 100K after improvements then you will find that 15K is retained and only handed over when work satisfactoily completed
Answered by ascoile - Tue Jul 8 04:51:39 2008
Q. My house is currently worth 85,000. I am aware it would be worth substantialy more if certain work was done. As the house was in poor condition when I bought it & needed more doing to it than originally anticipated I ended up securing a loan on the property as well as taking out a personal loan to do up the house which I manage perfectly well to pay each month. Even so, there is still alot that needs be done & I have run out of funds. I am considering remortgaging to complete the work but if I was to do this I would think it sensible to clear my outstanding debts at the same time & at my houses current value it wouldnt be possible to do both. Is it possible for me to get a valuation of my property based on what it would be worth if I do… [cont.]
Asked by Chell - Tue Jul 8 04:47:09 2008 - - 6 Answers - 0 Comments
A. Yes you can However it is normal for the extra value to be retained until the improvement work is carried out. eg if worth 85K now but 100K after improvements then you will find that 15K is retained and only handed over when work satisfactoily completed
Answered by ascoile - Tue Jul 8 04:51:39 2008
remortgage how long does it take?
Q. my ex wife is having to buy me out of my share of our marital house and is remortgaging with her new husband to do so. the y have been made and excepted there offer and have today signed the new deeds to the property to take me off them and put her new husband on them. my question is how long from this stage can i expect for the money to be released?
Asked by spiderman - Fri Jul 11 14:47:27 2008 - - 4 Answers - 0 Comments
A. Now they have signed the deeds, and provided everything else has been done by their solicitor such as a bankrupty search, which is needed for any kind of mortgage, then all that remains to be done is for their solicitor to request the mortgage monies for a specific date, which should be almost immediately. Funds are usually sent by telegraphic transfer which means that the solicitor won't have to wait for cheques to clear etc. Likewise, the monies should be able to be transferred direct into your account once received by the solicitors. Once the bank send through the money, then their solicitor should pass on the amount due to you. Your ex's solicitor will then send off the signed deeds to the Land Registry where your name will be… [cont.]
Answered by Carol1841 - Fri Jul 11 15:49:15 2008
Q. my ex wife is having to buy me out of my share of our marital house and is remortgaging with her new husband to do so. the y have been made and excepted there offer and have today signed the new deeds to the property to take me off them and put her new husband on them. my question is how long from this stage can i expect for the money to be released?
Asked by spiderman - Fri Jul 11 14:47:27 2008 - - 4 Answers - 0 Comments
A. Now they have signed the deeds, and provided everything else has been done by their solicitor such as a bankrupty search, which is needed for any kind of mortgage, then all that remains to be done is for their solicitor to request the mortgage monies for a specific date, which should be almost immediately. Funds are usually sent by telegraphic transfer which means that the solicitor won't have to wait for cheques to clear etc. Likewise, the monies should be able to be transferred direct into your account once received by the solicitors. Once the bank send through the money, then their solicitor should pass on the amount due to you. Your ex's solicitor will then send off the signed deeds to the Land Registry where your name will be… [cont.]
Answered by Carol1841 - Fri Jul 11 15:49:15 2008
Had bad credit problems 4-5 yrs ago. How can I remortgage?
Q. Due to suffering from depression, me and my husband ran up major debts of 30k+ 4-5 years ago. We have made a huge effort to get everything under control and have cleared all our personal debts apart from 5k (plus a 120k mortgage). We still have a bad credit rating and we remortgaged almost 4 years ago with a sub-prime lender. Due to increasing interest rates, we are now paying 9% APR with a mortgage payment of 935 per month on a 120k interest only mortgage. Although we both work full-time, we have 3 children and are finding it increasingly difficult to keep up the repayments. There is currently a redemption penalty of 7k which reduces to 1200 in July 07. Should we remortgage now and pay the 7k or wait till July but struggle till… [cont.]
Asked by Karen J - Tue Feb 6 07:12:50 2007 - - 7 Answers - 0 Comments
A. There you go :
Answered by jamesPurple - Tue Feb 6 16:04:09 2007
Q. Due to suffering from depression, me and my husband ran up major debts of 30k+ 4-5 years ago. We have made a huge effort to get everything under control and have cleared all our personal debts apart from 5k (plus a 120k mortgage). We still have a bad credit rating and we remortgaged almost 4 years ago with a sub-prime lender. Due to increasing interest rates, we are now paying 9% APR with a mortgage payment of 935 per month on a 120k interest only mortgage. Although we both work full-time, we have 3 children and are finding it increasingly difficult to keep up the repayments. There is currently a redemption penalty of 7k which reduces to 1200 in July 07. Should we remortgage now and pay the 7k or wait till July but struggle till… [cont.]
Asked by Karen J - Tue Feb 6 07:12:50 2007 - - 7 Answers - 0 Comments
A. There you go :
Answered by jamesPurple - Tue Feb 6 16:04:09 2007
own house outright/remortgage?
Q. i own my house outright (valued at 16000)and i am seriously considering a remortgage on it for 50,000 .my house is registered with land registry under my name,if i remortgage my house with a lender what happens (or who will then be registered as owner of my house at land registry. also can you still pay off a remortgage early same as you can with a normal mortgage or i are you tight to the years agreed.
Asked by patsy67 - Thu Nov 15 02:34:20 2007 - - 5 Answers - 0 Comments
A. 'Remortgage' implies that there is already a Mortgage on the house and you are increasing it ... However 50k is small for an increased Mortgage so I assume you mean a 'first' Mortgage ... When you Mortgage a property the Mortgage Company registers a claim against the house with the Land Registry .. this prevents the house being sold without their permission .. (which they will only give if you repay the Mortgage at the same time as you sell). The exact options (early repayment etc) depends on the exact Mortgage you get .. there are many 'special deals' (low rate, tracker etc) lasting between 2 and 5 years where, if you pay off early you are charged a penalty (this is known as a 'tie-in' period).. However most (not all) allow some 'exce [cont.]
Answered by Steve B - Thu Nov 15 02:58:47 2007
Q. i own my house outright (valued at 16000)and i am seriously considering a remortgage on it for 50,000 .my house is registered with land registry under my name,if i remortgage my house with a lender what happens (or who will then be registered as owner of my house at land registry. also can you still pay off a remortgage early same as you can with a normal mortgage or i are you tight to the years agreed.
Asked by patsy67 - Thu Nov 15 02:34:20 2007 - - 5 Answers - 0 Comments
A. 'Remortgage' implies that there is already a Mortgage on the house and you are increasing it ... However 50k is small for an increased Mortgage so I assume you mean a 'first' Mortgage ... When you Mortgage a property the Mortgage Company registers a claim against the house with the Land Registry .. this prevents the house being sold without their permission .. (which they will only give if you repay the Mortgage at the same time as you sell). The exact options (early repayment etc) depends on the exact Mortgage you get .. there are many 'special deals' (low rate, tracker etc) lasting between 2 and 5 years where, if you pay off early you are charged a penalty (this is known as a 'tie-in' period).. However most (not all) allow some 'exce [cont.]
Answered by Steve B - Thu Nov 15 02:58:47 2007
hi, im a part owner of a house, the other owner has remortgage on his half, where do i stand legaly?
Q. the house was fully paid off when we recived it, and now he has advised me that he is unable to pay off his mortgage, because it is 50/50 on only his fifty is mortgaged, will i have to pay off his half, or does it mean he has already taken his half of the property and it wont affect me at all?
Asked by Michael J - Mon May 26 07:05:23 2008 - - 9 Answers - 0 Comments
A. whatever happens you still own half of the equity in the house. if he defaults the mortgage company will put a charging order on the house to the value of 50% and this will be paid if the house is ever sold. It wont effect you at all. apart from the fact that you will have to pay all the insurances etc yourself and maintenance and repairs etc the mortgage company will not assist in the upkeep of the house. they will remain a silent partner until the house is sold if ever this answer assumes the mortgage company were aware that your friend only owned 50% of the property. at some point in the future the mortgage company may make a some sort of deal with you to purchase the outstanding debt at very favourable rates, so it is not all doom… [cont.]
Answered by confucious says - Mon May 26 08:17:39 2008
Q. the house was fully paid off when we recived it, and now he has advised me that he is unable to pay off his mortgage, because it is 50/50 on only his fifty is mortgaged, will i have to pay off his half, or does it mean he has already taken his half of the property and it wont affect me at all?
Asked by Michael J - Mon May 26 07:05:23 2008 - - 9 Answers - 0 Comments
A. whatever happens you still own half of the equity in the house. if he defaults the mortgage company will put a charging order on the house to the value of 50% and this will be paid if the house is ever sold. It wont effect you at all. apart from the fact that you will have to pay all the insurances etc yourself and maintenance and repairs etc the mortgage company will not assist in the upkeep of the house. they will remain a silent partner until the house is sold if ever this answer assumes the mortgage company were aware that your friend only owned 50% of the property. at some point in the future the mortgage company may make a some sort of deal with you to purchase the outstanding debt at very favourable rates, so it is not all doom… [cont.]
Answered by confucious says - Mon May 26 08:17:39 2008
Please Help!!! Remortgage with no income?
Q. When my house is up for remortgage i will be retraining at university and therefore have no income at all (i will be living off my savings) I am wondering if it is possible to remortgage without an income... I have seen self cert mortgages where you don't have to prove your income, but it still kinda sounds like you have to have one, you just can't prove it... Does anyone know about this?
Asked by Connie - Thu Oct 29 04:42:08 2009 - - 6 Answers - 0 Comments
Q. When my house is up for remortgage i will be retraining at university and therefore have no income at all (i will be living off my savings) I am wondering if it is possible to remortgage without an income... I have seen self cert mortgages where you don't have to prove your income, but it still kinda sounds like you have to have one, you just can't prove it... Does anyone know about this?
Asked by Connie - Thu Oct 29 04:42:08 2009 - - 6 Answers - 0 Comments
sell remortgage or rent?/????
Q. have a house which we have completly renovated!had i valued and made48% equity!! the dilema is that things went a little wrong a while ago and now our credit rating is poor although we have a large sum to put down our bank will not give us another mortgage! so we went to a lender specialising in our situation. the apr is high and will still be in debt with a larger mortgage!! would you remortgage your house sell up make profit and rent or sit on it and pay debts of (approx 4yrs left on them owing approx 20,000!!! ahhh!!!
Asked by lubilu82 - Tue Aug 15 17:15:50 2006 - - 9 Answers - 0 Comments
A. I'd sell, pay off the debts, rent for 2 years, save up again, move somewhere cheaper and buy, or buy a fixer in the area you desire and can afford. Right now it is a buyers market, interest will rise more too. Sell, pay off and sit back and watch the market.
Answered by unknown - Tue Aug 15 17:21:10 2006
Q. have a house which we have completly renovated!had i valued and made48% equity!! the dilema is that things went a little wrong a while ago and now our credit rating is poor although we have a large sum to put down our bank will not give us another mortgage! so we went to a lender specialising in our situation. the apr is high and will still be in debt with a larger mortgage!! would you remortgage your house sell up make profit and rent or sit on it and pay debts of (approx 4yrs left on them owing approx 20,000!!! ahhh!!!
Asked by lubilu82 - Tue Aug 15 17:15:50 2006 - - 9 Answers - 0 Comments
A. I'd sell, pay off the debts, rent for 2 years, save up again, move somewhere cheaper and buy, or buy a fixer in the area you desire and can afford. Right now it is a buyers market, interest will rise more too. Sell, pay off and sit back and watch the market.
Answered by unknown - Tue Aug 15 17:21:10 2006
Remortgage question help!!!?
Q. I am hoping to get a remortgage through my bank I went in had the meeting with the mortgage adviser and he took all the details and advised he could offer me one alot lower than the one I am on. He said he could have a surveyor come out and value my house, he said that the surveyor may not even come in to the property but just drive by and value it that way. Either way no one came to the door. Now the banks solicitors have sent me out security paper to sign for the remorage, but I haven't yet got the mortgage offer from the bank. Has the remortgage went through? Or could it still be rejected at this point? Thanks
Asked by NZ!! - Fri Feb 13 09:41:06 2009 - - 3 Answers - 0 Comments
A. Who not phone the guy you spoke to a the bank and ASK.
Answered by IDNSFG818 - Fri Feb 13 09:44:27 2009
Q. I am hoping to get a remortgage through my bank I went in had the meeting with the mortgage adviser and he took all the details and advised he could offer me one alot lower than the one I am on. He said he could have a surveyor come out and value my house, he said that the surveyor may not even come in to the property but just drive by and value it that way. Either way no one came to the door. Now the banks solicitors have sent me out security paper to sign for the remorage, but I haven't yet got the mortgage offer from the bank. Has the remortgage went through? Or could it still be rejected at this point? Thanks
Asked by NZ!! - Fri Feb 13 09:41:06 2009 - - 3 Answers - 0 Comments
A. Who not phone the guy you spoke to a the bank and ASK.
Answered by IDNSFG818 - Fri Feb 13 09:44:27 2009
remortgage or leave it alone?
Q. basically weve sold up a porperty and have roughly about 70k, weve gained but are now also retried so was wondering wats the best option... we want to extend our house... should we a) just use the money and build it... or b) pay off the mortgage and then remortgage and then extend. basically weve sold up a property and have roughly about 70k, weve gained but are now also retired so was wondering wats the best option... we want to extend our house... should we a) just use the money and build it... or b) pay off the mortgage and then remortgage and then extend. Thats what we have left after the debts Cost would be 70 to 90k Remainder of the mortgage is roughly 65k
Asked by xangelx - Thu Jul 17 12:32:21 2008 - - 1 Answers - 0 Comments
A. not enough info what is the rate on your current loan, and the balance what's the cost of addition? What's the rate you can get on a first mortgage now, a HELOC? What's the rate of return you can get by investing your funds? whatever you do, don't put ALL the money into house.
Answered by chatsplas - Thu Jul 17 12:37:58 2008
Q. basically weve sold up a porperty and have roughly about 70k, weve gained but are now also retried so was wondering wats the best option... we want to extend our house... should we a) just use the money and build it... or b) pay off the mortgage and then remortgage and then extend. basically weve sold up a property and have roughly about 70k, weve gained but are now also retired so was wondering wats the best option... we want to extend our house... should we a) just use the money and build it... or b) pay off the mortgage and then remortgage and then extend. Thats what we have left after the debts Cost would be 70 to 90k Remainder of the mortgage is roughly 65k
Asked by xangelx - Thu Jul 17 12:32:21 2008 - - 1 Answers - 0 Comments
A. not enough info what is the rate on your current loan, and the balance what's the cost of addition? What's the rate you can get on a first mortgage now, a HELOC? What's the rate of return you can get by investing your funds? whatever you do, don't put ALL the money into house.
Answered by chatsplas - Thu Jul 17 12:37:58 2008
Should I remortgage my home with the new Rate Cut? I currently have a fixed rate of 5% - Two part question!?
Q. Part 1 - With the new rate cuts I was wondering if I should remortgage my home loan. I currently have a 30 year fixed rate at 5%. I've been paying on the loan since the last quarter of 2003. My points are gone too. Part 2 - Between being house poor and paying for my own wedding I also have a home equity loan. That is also a fixed rate loan at about 8%. It's a 10 year loan that I've been paying on for a little over 3 years. If there is an article to link my to I'll take that also if I will save someone time typing :)
Asked by DAiuto - Tue Jan 22 10:33:29 2008 - - 2 Answers - 0 Comments
A. HECK NO!! Don't touch that first mortgage. Refi the second on an equity line at prime plus zero, (assuming you have good credit) the payment will be lower. Don't touch that five percent first!
Answered by craigd2599 - Tue Jan 22 10:41:50 2008
Q. Part 1 - With the new rate cuts I was wondering if I should remortgage my home loan. I currently have a 30 year fixed rate at 5%. I've been paying on the loan since the last quarter of 2003. My points are gone too. Part 2 - Between being house poor and paying for my own wedding I also have a home equity loan. That is also a fixed rate loan at about 8%. It's a 10 year loan that I've been paying on for a little over 3 years. If there is an article to link my to I'll take that also if I will save someone time typing :)
Asked by DAiuto - Tue Jan 22 10:33:29 2008 - - 2 Answers - 0 Comments
A. HECK NO!! Don't touch that first mortgage. Refi the second on an equity line at prime plus zero, (assuming you have good credit) the payment will be lower. Don't touch that five percent first!
Answered by craigd2599 - Tue Jan 22 10:41:50 2008
From Yahoo Answer Search: 'remortgage houses'
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Powys County Times
The PCC then appealed the decision to the House of Lords, forcing Andrew and Gail to remortgage their house to pay off the lawyers. The House of Lords, ...
fairinvestment.co.uk
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Woolwich Remortgage Woolwich Remortgage
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Liz Moir
hu, 05 Nov 2009 12:43:17 GM
Houses. in general rise steadily in value with the past two years being an exception. Secured loans and . remortgages. release funds which are at very low rates of interest with . remortgage. interest rates currently available from under 2% ...
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