Mortgage Lenders

I have an alliance & leicester mortgage and now my fixed deal is at an end i can make overpayments without being charged. On my mortgage deal it says i can make payments of over £500 by sending off a cheque but doesnt give details on smaller regular payments.
I would like to do this by internet banking, does anyone know how i do it? what account number? ive tried looking on their website but cant see the information anywhere!!

According to the Alliance & Leicester website, you are allowed to make over-payments of up to 10% of your outstanding balance each January as a one-off payment. The website does not indicate that you can do anything more regular.

If you really want to do it monthly, you’d be best to give them a call or pop into your nearest branch to check it out. In theory you can just set up a standing order to the same details that your mortgage direct debit goes to (it’s really easy if you bank online!) – but as it isn’t clear if you would be charged for this, it’s best to check with them first.

Offering Sweetheart Mortgage Deals to the Finance Committee Members?

He’s skimmed enough from the tax payers and lobbyist that he never has to work again.

Face the facts, without a decent score (over 620) plus downpayment and closing you are not going to purchase a home. So save the heartache and hits on your credit score, resign yourself to the fact you will have to raise that score, and some capital before you can even think about buying a home

My spouse and I are planning to buy a house in the next few months. I am wondering how my spouse’s CS will affect to get a good mortgage deal. I have good credit (781, just checked) but my spouse has been accumulating credit history for less than two years. A point that may be consider is that neither my spouse nor I carry credit card debt, just student and car loans. The total payment is less than 5% of our monthly income. Thanks!

When you apply, put your name first on the application and your spouse as teh cosigner. You may get a slightly higher interest rate because of her score, but I think you’ll still be okay. Do you know what her score is?

I am working with a couple of folks who are getting close to foreclosure. They don’t have the money to buy it out, and I do. I was going to buy them out, make the payments until it sells, then make a deal about splitting up the equity. I have never done this, but this is what I heard. I was at a party where a mortgage broker deals with a lot of foreclosures. He says what he does is negotiates with the people being foreclosed on, they then quitclaim the deed to him and he records it with the county so that title is in his name. He then makes the mortgage current by paying all late fees and missed payments and leaves the mortgage in the name of the initial owners. Has anyone heard of this, if so, where can I find more info as to how to go about it. This is in Washington state, I know all states are different. Anyone who has done this? Thanks!

The answer is yes. I am a REALTOR and have gone through this process myself. I paid an attorney $275 to draw up a quitclaim deed because the mortgage was not assumable. You will also have to hire an attorney to draw up a contract to protect the both of you for when it sells.

With the Quit Claim Deed your name is on the title and the mortgage is still in the previous owners name.

And they got a slap on the wrist? What more proof do you need Obama and the Dems are nothing buy crooks?

the proof is long been proven ..if it hadnt been dems on the panel that said they were innocent ,they would be resigning

I’ve just recently put an offer in for a house which was accepted and i sorted a mortgage out with the bank. Now something has come up and we’ve had to pull out of buying the house. The only thing i have signed ref to this is the mortgage agreement. how much will the bank charge me for this?

Lenders can impose penalties for pulling out of mortgage deals earlier than the agreed terms. If your mortgage has redemption penalty then you’ll have to pay and the bill can run into the thousands – typically it can be a few months interest. So check the terms of your existing deal before making the move. You need to contact your bank and find out all the details.

I just found out that the investor that we dealt with 2 years ago did a subject to mortgage I thought we were doing an assumption or that he was taking the home and the mortgage. So now I have this mortgage in my name, no home, and I want to purchase a home but this is holding me back. Is there a way that the investor and I can come up with some type of agreement that will make both happy?

wizjp has it about right.

The mortgage is still in your name. However, the investor owns the house. Basically, the only way out is for the mortgage to be put in someone else’s name. Among the options:

(1) The investor could refinance, putting the property into his name. (Not likely to occur, but you can ask.)

(2) The investor can sell the property to someone else–either the current tenant or to someone else. (Investor might like to do this, but that depends on whether there’s any equity in the property.)

So, contact the investor and explain your situation.

The upside is that, I assume, the investor has lived up to his end of the deal. That he’s been making your payments on time. And, therefore, that your credit history–at least regarding the mortgage–is good. So there’s definitely been some value to the Subject To. Plus, I’m assuming you were in financial difficulty when you did the deal, and the housing portion of the burden has been eliminated. And that’s a good thing, too.

One other possibility–more creative–is for the investor to put the property into a land trust. For a variety of reasons, you’d retain 10% ownership in the trust; he’d have 90%. The advantage to you is that when the property’s put into the trust, though the mortgage remains in your name, there are various ways to communicate to lenders that the trust is responsible for the mortgage. (This isn’t the way it’s usually done, but that same question comes up when land trusts are used to acquire property and the seller wants to know whether he’ll be able to buy a new property. Answer: There often is.) For more information on that option, go to (or suggest your investor go to) http://www.landtrust.net. There are also other advantages for both you and the investor.

Hope that helps.

We suffered through a major financial collapse due to congressional failure to oversight the mortgage market which polluted all sorts of investment assets and triggered a selling rush that left our GDP in a multi-trillion dollar hole.

Should he be impeached by the citizens of the United States right away? Is there a petition somewhere to get this done!?

They should send him & his cancer to unemployment hell.

Sorry but I REALLY hate corrupt politicians, especially the self-righteous, sanctimonious and hypocritical ones.

If I had my way, I’d have them all tried for treason after they are impeached.
They ARE BETRAYING their oath of office when they take a bribe or a kick-back.

My partner and I are looking for a mortgage lender. We are 1st time buyers in England(midlands). We would prefer a 100% mortgage but my partner has CCJs(they are all paid off)and I currently don’t work. We have looked into different mortgages but can only get around £75000 and would also need a deposit. This is a problem because all the suitable houses are over £100000 and also, because we have quite a high rent, there is no way we can afford a deposit. Does anyone have any ideas of where to look?
My partner has a good, well paid and secure job.
we do have credit unions but I am not sure how good they are. I think they are more for people on social security and stuff like that. I will try them though.

Speak to Phil at Suttons, he is an independent financial advisor, he doesn’t charge for his services, and will find you the best deal. He will try harder than others to get you a mortgage because he gets a commission from whoever he recommends you to.

You need to have saved with a credit union for some time, before you can have any sort of loan from them, it is best to speak with an independent financial advisor.

You could try looking at the following website, you may need to do a bit of searching on it to find what you want.

www.motleyfool.co.uk