Mortgages again...

Discussion in 'Bulletin Board' started by Journo Tyke, Nov 1, 2022.

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  1. Journo Tyke

    Journo Tyke Well-Known Member

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    Anyone got any concerns about their mortgage at the moment? (other than struggling to pay it in the madness that is the cost of living crisis)

    Didn't want to dredge up my old thread again, but obviously it's been a rough few weeks and I'm encountering a lot of people coming to the end of fixes in 2023 for example. So here to offer any thoughts and of course help anyone that would like to use my services at any point.

    For the first time in a while, there's a genuine choice now between fixed and variable (discount/tracker) deals depending on how you see interest rates going from here. I think the role of a broker is more important than ever at the moment as lenders are all behaving differently - it's not all the familiar names at the top of the cheapest deals right now.

    Feel free to drop me a DM if you'd like to discuss anything or email me at: allen@wallacehomefinance.co.uk

    Cheers
     
    Journo Tyke, Nov 1, 2022
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  2. Brush

    Brush Well-Known Member

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    Hi mate, a bit of a oddball question but...

    My wife has 2 elderly aunts Pat and Nancy. Nancy has dementia. They live in a house they bought together many years ago and have never married or had children. It's looking likely that Nancy will need to go in a care home soon. How can Pat find Nancy's bank accounts? Nancy gets agitated whenever Pat tries to talk about it...
     
    Brush, Nov 4, 2022
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  3. Durkar Red

    Durkar Red Well-Known Member

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    Unless she’s got Power of Attorney over Nancys finances I don’t think she can
     
    Durkar Red, Nov 4, 2022
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  4. Brush

    Brush Well-Known Member

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    She has got Power of Attorney, but the problem is that she doesn't know what accounts Nancy's got and Nancy won't tell her....

    I've been onto Age UK and they've put me onto something called Gretel, I'm waiting for them to reply.
     
    Last edited: Nov 4, 2022
    Brush, Nov 4, 2022
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  5. Redstone

    Redstone Well-Known Member

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    Would it be possible to use a free credit file check to look for them? I use the Money saving expert credit club and I has all my accounts listed. So if she has power of attorney and enough info that could be a option? Certainly for bank accounts ect wouldn't help with any private pensions ect I don't think.
     
    Redstone, Nov 4, 2022
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  6. Brush

    Brush Well-Known Member

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    We'll have a look.
     
    Brush, Nov 4, 2022
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  7. Journo Tyke

    Journo Tyke Well-Known Member

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    You can get a free 30 day trial on 'checkmyfile' too which uses all credit reference agencies so current accounts will definitely be listed on there. Don't think savings accounts would be though.
     
    Journo Tyke, Nov 4, 2022
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  8. TitusMagee

    TitusMagee Well-Known Member

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    From memory whilst working as an FI, Experian and Equifax etc only show accounts where there is credit facilities and mortgages so things like current accounts, mortgages, phone bills, then any defaulted accounts like utilities.
     
    TitusMagee, Nov 4, 2022
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  9. fir

    fired Administrator Staff Member Admin

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    A bit off topic, and no idea if you can even abswer this, but do you have any thoughts on the issue of flats that are part of the ongoing “cladding issue”. A relative is unable to sell because no companies will offer buyers mortgages on cladded flats until the Government decides what to do about fire certificates etc. She is also unable to rent out using an agent as tgey won’t touch it either. Is there any indication that the situation will change or the rules be relaxed??
     
    fired, Nov 4, 2022
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  10. Journo Tyke

    Journo Tyke Well-Known Member

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    No idea I'm afraid... assume if any works doing on it, it'd need to be done to the whole block wouldn't it, don't suppose the service charges will help pay towards it or can everyone club together and get it done? Or is it simply about certificates and actually the cladding they have may be ok?

    Perhaps the question could be directed to their local MP to try and find out/raise the issue for them?
     
    Journo Tyke, Nov 4, 2022
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  11. fir

    fired Administrator Staff Member Admin

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    No worries.

    It’s a national problem affecting tens of thousand of people.
    Basically ever since Grenfell, new legislation introduced - flats have to have these fire safety certificates, or have the cladding changed. The issue is that there are not enough inspectors to get around all the buildings, leaving people in limbo. Mortgage companies won’t touch it - so owners can only sell to cash buyers, or rent without an agent.
     
    fired, Nov 5, 2022
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  12. man

    mansfield_red Well-Known Member

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    There has been legislation on this issue this year

    https://www.gov.uk/guidance/buildin...lders#overview-of-the-leaseholder-protections
     
    mansfield_red, Nov 5, 2022
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  13. TonyTyke

    TonyTyke Well-Known Member

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    That probably explains why I've seen cash buy online flats at very cheap rates - I never thought of the cladding problem.
     
    TonyTyke, Nov 5, 2022
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  14. BarnsleyBomber

    BarnsleyBomber Well-Known Member

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    Its tough out there. My mortgage was 530 in jan. Gone up nearly every month since. Next month was due to be 825. Mental. I called em and managed to get fixed at 562 for 2 years. I was panicking a bit. As alot of ppl are
     
    BarnsleyBomber, Nov 5, 2022
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  15. Wuz1964

    Wuz1964 Well-Known Member

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    Wonder what the score will be today?
    Still love the FA Cup me
     
    Wuz1964, Nov 5, 2022
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  16. Redstone

    Redstone Well-Known Member

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    The last time inerest rates rose this sharply the FA Cup was a lot more popular.
     
    Redstone, Nov 5, 2022
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  17. Wuz1964

    Wuz1964 Well-Known Member

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    Funny old game intit?
     
    Wuz1964, Nov 5, 2022
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  18. Redstone

    Redstone Well-Known Member

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    Football? Yes. Mortgages? Yes.
     
    Redstone, Nov 5, 2022
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  19. Wuz1964

    Wuz1964 Well-Known Member

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    Mortgages are mortgages. Football is football
     
    Wuz1964, Nov 5, 2022
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  20. Journo Tyke

    Journo Tyke Well-Known Member

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    I get you. I'd imagine there will be buyers (for cash obviously) that will try and snap up a bargain, but that's no good to the poor sellers. Obviously understandable why the checks and certificates are required, but can imagine it's a logistical nightmare.
     
    Journo Tyke, Nov 5, 2022
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