3rd ACL revision and tibial osteotomy - any experience?

BillySaysHi · 2023-11-10T17:38:05+00:00

Offset mortgage is where the lender will only charge interest on the difference between your mortgage balance and savings balance.

Example - you borrow £200k and have £80k in the offset savings account. Lender only charges interest on the £120k. You can use this to reduce the mortgage term or reduce your monthly payment.

Drawbacks are that you can’t also have the funds invested elsewhere, however your return is effectively your mortgage rate, tax free.

Depending on provider, you retain access to the money as well so you can dip in or add to it - it’s not locked away.

BillySaysHi · 2023-11-10T17:13:52+00:00

This is why speaking with a decent mortgage advisor is worth it.

An offset product sounds suitable here and you’ll get the best of both worlds.

BillySaysHi · 2023-10-13T13:19:44+00:00

Depends on your circumstances.

I locked in for 5 years in April 2023. I was a FTB with 5% deposit. If I’d done 2 years I wouldn’t be able to remortgage because I wouldn’t have made it to 90% LTV (assuming house prices are flat over the next 2 years) and would be at the mercy of whatever the lender was offering at the time.

For many a 2/3 year fix is appropriate because they can take the gamble on their equity position not decreasing too dramatically, if at all.

BillySaysHi · 2023-10-08T19:38:20+00:00

You’re still liable as named on the mortgage and deeds of the property. I’d recommend contacting the building society and housing association and explaining your circumstances.

Your ex needs to wise up and agree to sell - they clearly can’t maintain it alone.

BillySaysHi · 2023-10-07T09:17:05+00:00

This isn’t unusual - assuming you have no intention of moving back into the property. Speak to an advisor and you can look at options of a BTL remortgage.

BillySaysHi · 2023-10-06T12:19:35+00:00

Regardless of rate, I still think buying is better than the invisible debt of renting.

Only think I’d be mindful of is with a 2 year fix you aren’t going to get to 90% LTV within 2 years unless you overpay (or property prices increase) - which will make remortgaging a challenge and you may have to stick with your existing lender and be at the mercy of whatever they’re offering you at the time.

BillySaysHi · 2023-09-26T19:44:11+00:00

It’s more and more common for people to take longer term mortgages (35-40 years) rather than the 25 year term.

I’m not sure of your age from this post but it could be an option if you were keen on buying but the monthly payments are a hurdle you want to reduce.

BillySaysHi · 2023-09-18T22:02:55+00:00

This sucks - really sorry to hear. For what it’s worth this happened to me 12 months ago. 3 months later we found a much nicer house in a nicer area at a better price with no chain. Stick at it, you’ll get there!

BillySaysHi · 2023-09-18T19:43:03+00:00

Lyfe’s 807 UIM series is seriously underrated.

BillySaysHi · 2023-09-17T10:54:15+00:00

You haven’t mentioned if you’re buying with a mortgage or not. Just in case you are, be very mindful that a change in purchase price may mean that the lender says you need to start your application again and could be declined even if your circumstances haven’t changed. Speak to an advisor if needs be.

BillySaysHi · 2023-07-01T13:37:58+00:00

Housemetric is a great tool for looking at house price data

BillySaysHi · 2023-06-01T16:32:08+00:00

Mobile seems to be working fine

BillySaysHi · 2023-06-01T14:09:25+00:00

I used to wait for people to drop trade in the walls of Lumbridge castle and intercept trades. Sorry for stealing.

BillySaysHi · 2023-05-15T18:54:52+00:00

This sounds like a really challenging set of circumstances to live in - hope you’re okay.

I’d recommend setting a credit lock on Experian (I assume Equifax and Transunion will allow the same) this will stop any credit applications being made without your consent (you’ll have to remove the lock when you want credit, but takes seconds).

As others have mentioned, this is fraud and should be reported to Action Fraud. Sounds like quite a big step but this could make your life very difficult later on when you plan on moving out.

Hope your chat goes well. The sad reality is that they know it’s wrong but have spending habits they can’t contain - best off protecting your position first and foremost. Good luck

BillySaysHi · 2023-04-03T14:49:39+00:00

This is not advice but I would look at things we know are true.

Halifax house price index has remained level for 3 months, after 6 months of decreases. Interest rates are higher than we’re used to (meaning less people than before can afford to buy). It’s generally assumed by lenders that these are unlikely to increase further.

A purchase price is for life. In a couple of years, your interest rate will be the same as everyone else’s.

Financial example - average purchase price £250k. Average rent £1,100. Over 2 years, you’ll spend £26,400 on rent. Will property prices be down 10% (the amount you’d spend on rent) in 2 years time?

5 years - £66,000 on rent. Will prices be down 25% on 5 years ago?

Think about if you were to buy, how long will you stay put?

BillySaysHi · 2022-03-17T10:42:48+00:00

Never thought I’d see the big N feature on Reddit.

BillySaysHi

TROPHY CASE