Best mortgage

Questions and Answers

Best Mortgage company like the one account???

Q) I want to buy a house worth about £100,000 but i will have about £25,000 a year spare that i want to plough back into my mortgage to get it paid off really quickly to avoid paying too much intrest. i looked at www.oneaccount.com which seems the best as no penalties for early re-payments (in fact they encourage it!) but i want options. I think Virgin does a similar deal where you can pay off your mortgage really fast with no penalties. Any one done anything like this with a 'one account' like this and can advise me who to got to?

A) You can pay off your mortgage on most mortgage products, one account don't do anything different to many others, its the interest rate that you should be looking at and I can assure you one account doesn't have the best rates, Abbey & Halifax have some good products, you may also want to look at Offset mortgages. Good Luck

What is the best mortgage to go for in London banks?

Q) I am a first time house buyer and need to find a mortgage wihtin the next 16 weeks. I would like to know what banks are doing the best mortgage deals at the moment, can anyone help?

A) The woolwich life time tracker is a good one but go on moneysupermarket.com and they will give you the best deals on the market

best mortgage company?

Q) who does the best mortgage deals for people with a not so great credit history

A) Try this site for advice, and see what you can come up with: http://www.fool.co.uk/mortgages/compare-mortgages.aspx (2006 Best Mortgage site of the year)

does anyone know the best mortgage company?

Q) if one person is atemp and the otherin a permanant job can we get a mortgage and if so who is the best person to go to or which company im desperate to get a mortgage and thought it would be unlikely coz i'm a temp butmy fiance who would be going in with me is in full time work i'm currentl living at home with my parents and mty fiance livces at home neither of us pay rent

A) there all about the same but and i say it again to not be tempted to go with one out of the of the daily papers or on the telly . yes they will lend you the money but they will hide there massive 9circa 10 k ) in your mortgage . best thing to do is make appointment with say a major lender . do your home work first , prove you have been in work .are you paying rent at moment at this will prove you could pay a mortgage . speak to your bank first as if you have been there some time it proves you do have some credit worthiness .

Best Buy to let mortgage deals?

Q) Anyone know what the best websites are for buy to let mortgage deals?

A) www.moneysavingexpert.com

what is best way to pay off my mortgage fast?

Q) i have a £160000 mortgage with £2000 available for repayments. what is the best kind of mortgage i can get to pay off as early as possible

A) 2 or 3 year fixed rate, capital and interest, keep the payments at £2k but cut the years, then remortgage in 2-3 years again keeping the payment the same but cutting the number of years. Do you mean you've got £2k each month or as a one off?

Which is best a repayment mortgage or interest only?

Q) I need a mortgage for £100,000 over 30 years, am trying to keep initial costs down with a view to increase the payments when circumstances are better, so at the minute am looking into the best deals but am totally bamboozled. Help please!!!

A) With an interest only mortgage you only pay off the interest on the loan..so if you did nothing else after 30 years you would still owe £100,000. The mortgage company generally want to know how you intend to pay this off...the thing to say is that you will sell it....In a repayment mortgage you pay interest on the loan plus a proportion of the capital...so after 30 years you do not owe anything...obviously as you are paying interest and some of the capital the repayment mortgage is more expensive initially......It is only in the last few years that you actually start to repay large amounts of the capital sum...in the early years you may in fact owe more than the £100,000 you started out borrowing, when charges etc are taken into account...

Best mortage provider in the UK for fast payment of mortgage?

Q) I want to buy a house worth about £100,000 but i will have about £25,000 a year spare that i want to plough back into my mortgage to get it paid off really quickly to avoid paying too much intrest. i looked at www.oneaccount.com which seems the best as no penalties for early re-payments (in fact they encourage it!) but i want options. I think Virgin does a similar deal where you can pay off your mortgage really fast with no penalties. Any one done anything like this with a 'one account' like this and can advise me who to got to? In response to 'take two'.....i dont HAVE a mortgage lender thats what the whole question is about!

A) This may sound tedious but your best bet is to actually make an appointment with various mortgage lenders and sit down and talk with them. Every situation is different and these days banks are capable of tailoring a mortgage to your requirements. Best of Luck

Is the best way to clear debt is to add it to your mortgage?

Q) I owe £20,000 on credit cards. I have felt suicidal, but don't want my problems to become my wife's problems, not fair on her - I just wanna sort this out now. But we do have a nice home, and sunk all our savings to pay a 10% deposit on it two years ago. We have kept up with repayments but times are hard, we are both full time emploted but the savings we had generated from our second income, well that business has dried up. I am talking with Payplan to see if I can sort my debt problems out but wonder if adding the debt to the mortgage is teh answer. If I just had this one bill as opposed to all the card bills I think I would be happier because I feel I would be making progress. I think the snowball effect with credit cards won't work with because the interest on the cards wipes me out. Does anyone think adding the debt to the mortgage is the best idea? Thank you

A) If you want to repair your credit history by repaying a loan, which has simple terms and low monthly installments, again bad credit debt consolidation loans are for you. They save you after rejection and help you regain your financial credibility, so that you can again enter the mainstream credit market. Bad credit debt consolidation loans are of two types: 1. Secured bad credit debt consolidation loans: These types of bad credit debt consolidation loans are secured by a collateral usually some property or a guarantor. Since, the lenders find something to bank upon in case you default on payments, the interest rates on secured bad credit debt consolidation loans are cheaper, the lending amounts are higher and the repayment period can be long. 2. Unsecured bad credit debt consolidation loans: Persons who do not have anything to offer as the collateral or security, can take unsecured bad credit debt consolidation loans. The lenders find themselves at increasing level of risk while giving such loans. The existing bad credit situation and lack of a collateral, make them charge high interest rates and offer low loan amounts to offset the risk involved. But, a person who has a bad credit and cannot provide a collateral has little choice, but to take these high interest loans. At least by repaying these the borrower can rebuild his credit history. Deciding which bad credit debt consolidation loan is right for you can be a daunting task. Many companies offer free debt consolidation help to those who are cash strapped. Read more from: http://www.credit-card-gallery.com/credit_card_debt_consolidation.html

What type of mortgage would be best?

Q) I currently own my home which i am thinking of selling next year. I would like to find somewhere else and move in before i sell my existing house. i estimate that the profit from my current house will make up half of the value of a new house but in order to buy the new place, i would have to initially take out a 100% mortgage until my own home is sold and then i would like to pay off 50% of that when i sell my home. Is there a type of mortgage which would allow me to do that? Also, would I be able to pay off lump sums of the mortgage every so often? Would this mean a higher interest rate than normal? I wouldnt need 2 mortgages as i will have paid off the mortgage on my current home by the time i am ready to take out the mortgage on another

A) Get a line of credit on your existing home. Use that to put a 20% downpayment on your new home. Take a 30 year fixed rate loan on your new home, but make sure it has an interest-only feature. The interest-only feature will allow you to put a large payment down on the balance, and actually have your payments drop accordingly. Once you have sold your home and paid the balance down, all you need to do is figure out what it would take to pay off that loan in 30 years, or whatever timeframe you have in mind. Your loan officer should be willing and able to create an amortization schedule based on what your new balance is after the paydown of principal. Just because the loan allows you to only pay interest, doesn't mean you can't pay extra. Just make sure you don't have a prepayment penalty on the first mortgage and you'll be fine, and you can make lump payments for the first 10 years and still have everything recalculate. After the first 10 years, you'd have 20 years to repay the remaining balance with a fixed 20 year term and payment (so any extra prepayments after that period would not reduce your minimum monthly payment anymore). An interest-only feature will likely add 0.125-0.25% to the rate of a normal 30 year fixed-rate loan. Nominal increase for the flexibility you need. PS I don't know if the new MI laws from the last couple years have changed this, but I know from past experience that even paying the balance down to below 80% didn't matter, the MI had to stay for 2 full years from closing. I would advise against any insured option, just in case. Feel free to email me through here with any further questions.

Best Mortgage Broker in OC?

Q) I'm looking to refinance my mortgage in Orange County, CA. How do I find the best Mortgage Broker?

A) First of all, don't expect the best brokers to solicit you in Yahoo Answers!! LOL Ask a friend, family member or coworker who they used for a loan and if they were happy with them. Also, realtors know which loan officers are good/bad. If you know a realtor, have them refer you.

Who are the top 100 best mortgage companies?

Q) I came accross a list of the best rated 100 mortgage companies. The page has got the merit of surveying a question and issue of of interest to the global community by fostering individual self-expression and community interaction. But yet panelists haven't decided which mortgage companies were the best . The poll remains open till December 31 2007. You may want to have a look and tell me what you think about this survey at http://mortgage.yeyeyup.com/best_rated_mortgage_companies.html

A) i have a mortgage with HSBC. personally all is bad. after your money... here is a list bancks offering mortgages.

Mortgage refinance when is the best time ?

Q) Refinancing mortgage is not an easy decision, when is the best time to refinance ?

A) Interest rates fluctuate together with economy. Depending on what they were at the time of closing the loan, you may have chosen an adjustable rate loan or a fixed rate loan. That means that you get the benefit of keeping low interest rates or modifying the rates to a lower value if you have an adjustable rate loan. If, on the other hand, they were to rise to abnormal values, there is a maximum or “cap” to limit the incidence of rates on the loan. Read more http://refimortgage-online.blogspot.com/

Best mortgage deal?

Q) My sister in law is moving to Florida and is looking for the best mortgage deal that she can get. She has the house picked out and now needs the best 30 fixed with no added cost. Any help would be greatly appreciated. Please don't say go to lending tree or one of those. She just wants one name, one number and one great deal. Thanks much!

A) Try Advanced Capital Group, Inc. They are licensed in Florida, and offer great deals, low closing costs and will work with her to get the lowest possible homeowner's insurance and post closing to help her secure mortgage protection which is so important and almost always overlooked. Email me and I can give you all of their information.

Reverse mortgage or Equity loan?What is the best, least confusing and fastest way to sell a senior's home?

Q) My grandma is near 80 and my granfather is mentally gone.She doesnt want to be in the house when people are viewing her home.So, I think the best way is for her to see the home she wants to buy, get a mortgage for it, move and THEN sell her home. It is just my dad an I helping her.Any advice? Yes, grandma wants to sell her home and move to either a senior community or a new home all together. Her house is paid for.

A) Yes, there are many opportunities for elders to get taken advantage of in reverse mortgages, so consult a real estate attorney and/or advisor before doing any reverse mortgage. The most common practice when buying a home is to make an offer on the home you want to buy 'contingent' on the home you own selling first. That means you're not stuck with the financial responsibility for two homes. That does however mean you have to have folks coming into your home to look at it while your grandparents are still living there. So it might not be possible for your grandmother to get your grandfather out of the house on a moments notice when a real estate agent wants to show the house. If your grandparents are financially capable of buying one house, and then selling theirs, that might be best in your situation. Make sure there is no penalty for early payoff of the mortgage, if they intend to pay off the new mortgage with the proceeds from the sale of their home. Some reputable builders offer something called a home trade program, where they will buy your home when you buy theirs. Most will pay close to fair market value. At least 90% of FMV is usually fair to allow them to pay expenses, etc. Best advise, get a professional realtor to walk you through it.

What is the best mortgage advertisment you have seen?

Q) I am a Mortgage Broker looking for some good ideas for advertising. What is the funiest or best mortgage ad anyone has seen? Any loan officers out there with any creative new ideas?

A) If you are looking to advertise mortgage services online, try Regional Mortgages http://www.regionalmortgages.com Its an informational website that has a directory of local mortgage professionals. They allow for one mortgage rep per zip code.

Best Mortgage rate - (for UK)?

Q) Which is the best fixed rate mortgage for 3 or 5 years? they all seem to have fees etc..it's all a bit confusing :-(

A) Buy The Sunday Mail. Excellent financial section showing top providers every week.

Best Mortgage For My Situation????

Q) Ok here is my situation. I would like to buy a house. But I don't want to put any money down and I want a low mortgage payment! We have been looking at houses for around 300K and I would like to pay as little as possible. Our credit is fair boderling good!! Whats the best loan for us?? We will not be in the house more than 3 years also.

A) You are looking at a short term loan. Right now I would suggest a 5/1 arm with a Closed ended second. If you are looking to put no money down than your rate may be higher. But this could depend on the area in which you are seeking to live. Many factors go into a No Money down place. You need a really good real estate agent that works for your best interest in this matter who is creative and can be creative. Also look into a interest only loan. Reason I am stated a 5/1 arm instead of 3 year arm is because if you decide to stay in it longer or rates get out of control in the 3 year when your arm is due your not looking a payment shock. Good luck any questions please ask.

Which mortgage is best for me: 30 year fixed rate or 5/1 ARM?

Q) I am looking at borrowing $500000 and would like to know how to find the best interest rate for the mortgage.

A) ARM typically will have a lower introductory interest rate. If you definitely plan on selling your home within 5 years, then an ARM would probably be the choice for you. After the 5 years, however, the rate may jump into double digit percentages, which can be a shocking surprise. A 30-year fixed rate has the advantage of always knowing you'll have the same monthly mortgage payment all the way. It typically will have a higher interest rate than the ARM.

In an open interview at a mortgage company, what would be best for me to know? big topics ok, I will research?

Q) I have an interview with a contact I made that's the CEO of a mortgage company. He is giving me a general interview with no specific job in mind, but I want to make the best impression possible. I have some small experience with mortgages because I worked in a loan center, but I would like to be able to learn more about mortgage bonds and the business before interviewing. Anyone that could give me any sort of direction would be great. Even big topics, links, or books to reference would be fantastic, I will research it own my own. Thank you.

A) Maybe you can try looking up mortgage topics on Wikipedia.org. They usually have a wealth of info on all sorts of topics.