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Independent, no-nonsense ratings and reviews
Louise | Greater London| 07/09/2017 | 1
Is getting more money on a Mortgage a good way to raise some cash? I have a tiny tiny mortgage on a London property and could do with £50k to spend on other stuff. Would I be better to get the money by remortgaging or borrowing?
Hi Louise
Good question! Mortgage interest rates are incredibly low right now but so are loan interest rates. Either way, clearly the important thing is can you afford to pay the loan/mortgage repayments? Quite simply, the only difference remortgaging is that the money is borrowed against the value of your house and will probably be at a slightly lower rate than a loan which is unsecured so your house isn't at risk. Its always nice psychologically to think you have paid off your mortgage but I'd say its six of one and half a dozen of the other and will depend on what you feel more comfortable doing.
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We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.
Holly Mackay
Founder and MD of Boring Money, Holly Mackay has been working in the investments space since 1998. She read Modern Languages at Oxford, with a special focus on Mediaeval French which was deeply interesting and arguably utterly useless.
I have an inheritance to invest of £150,000. I am not paying into a pension at the moment but have £125,000 in my pension pot, and have fairly substantial money in Stocks and Shares ISAs. Should I put more into stocks and shares over a 10 year period, add to my pension funds, or invest in bricks and mortar with no mortgage?
Mark | West Midlands | 12/07/2019 | 3
My husband and I are new to investing and would like to make a minimum 10 years investment in Stocks and Shares ISAs, plus an ongoing £500 each a month. We're really keen on investing in ESG funds/companies only. To 'diversify', would it be better if one of us uses a robo-adviser and the other a traditional platform? For one to go active and the other passive approach? One higher risk than the other?
Emma | Herefordshire | 13/06/2019 | 6
I'm in my late 30s, have a mortgage, a baby, no outstanding loans or credit cards, three pensions, and two Cash ISAs. I’d like to invest to renovate our house, help fund our children’s education and help them onto the property ladder, and retire as soon as possible! I considered a LISA but thought I might be better paying off more of the mortgage. I'm also confused about using a platform for a Stocks and Shares ISA. Any advice would be appreciated! Keep up the good work, I’m impressed with how refreshingly approachable your website is.
Nick | Berkshire | 29/05/2019 | 5
I'm 52 and want to retire at 55. I have a mortgage, but the interest rate is very low, and a Stock & Shares ISA into which I invest each month. The performance of the Stocks & Shares ISA has been mixed, and I'm nervous about Brexit/Trump/China. Should I pay off my mortgage or keep paying into the Stocks & Shares ISA?
Paul | Glamorgan | 21/05/2019 | 3
I want to invest £10,000. I cannot see on your website how to do this. Please explain.
Clive | Carmarthenshire | 29/04/2019 | 0
I've been reading about Beaufort Securities, and how they potentially didn't ring-fence investor money properly. What is the best way to avoid this happening to my money?
Jenny | Greater Manchester | 29/04/2019 | 4
We have £100,000 in Premium Bonds to invest. We need it as serious illness has changed our lives completely. We have been advised to invest in a Capital Investment Bond, but fees seem high to me - 0.3% and 1.7% management and on-going advice. I'm considering Wealthify or other online funds. Can you help?
Melanie | London | 25/03/2019 | 3
I am 25 years old and just starting to manage my money like an adult! I attended university from 2012-2015, and as such I have a full student loan on repayment plan 2. The value of my loan at present is £43k, and at the current rates of interest, I pay back less than the interest each month. Having undertaken some cash flow analysis, I know I will be one who repays their loan in full and estimate it will take 15-18 years to fully pay back. Over this period I am likely to incur over £30k of interest. If I could pay the loan off in full, is that worth doing? Or is that £43k better put to work elsewhere in investments?
Tom | London | 15/03/2019 | 0
Can I use a Lifetime ISA if I am a first time buyer, but I will be getting a joint mortgage with someone who is not a first time buyer?
Katie | Kent | 14/03/2019 | 10
I recently received an inheritance and it is currently sat in Premium Bonds. I'm looking to hopefully use the money to put down on a house in the next couple of years, but I'm currently going through a divorce which does affect my ability at the moment to get on the housing market. Is there any way I can make my money work harder for me, yet still ensure I have access to it in a couple of years?
Ben | Avon | 12/03/2019 | 0
I am in my mid 20s & earning a regular salary. I have decent savings and am toying with the idea of Wahed Invest (I am looking for shariah compliant funds). I am also dabbling with the idea of property. If I have no financial commitments (living at home for next 2 yrs), is it worth using 90% of my savings for a house deposit for buy-to-let purposes? I am thinking this would reduce my loan to value?
Zara | West Midlands | 12/03/2019 | 0
If my son increases his pension contribution, I have read it may affect the amount he can borrow on a mortgage. Is this correct? Should he take a SIPP out as well? Is there any advantage in maxing out his managed Nutmeg Lifetime ISA in the next financial year?
Richard | Hertfordshire | 06/03/2019 | 3
I've been reading recently about how investment trusts are much the same as funds, but are cheaper to own. A: Is this true? and B: Do you have an article on Investment trusts on your site?
Nick | Surrey | 16/01/2019 | 11
I'm the sole carer for my chronically ill and elderly mum, as well as a full-time police officer. I have no other family apart from her. Due to mum's condition, and the fact that I'm exhausted performing both roles, the only option is to go part-time, as mum won't accept help from anyone else. To allow me to go part-time, I will need about £25,000 until March 2020 when I will be retiring. I’m confident of getting another job shortly thereafter. In January 2021, I will receive a commutation lump sum of about £50,000. I have a sizeable fund portfolio under an ISA wrapper with Hargreaves Lansdown. That is doing very well, so I don't really want to sell any of these funds and 'lend myself money' from that. My ideal funding solution would be a bond-type IOU agreement, where 'someone' lends me the money. Are you aware of a peer-to-peer site that could assist? Thanks
Dave | Hertfordshire | 27/11/2018 | 1
Do you have any recommendations for books that I can buy my 18 year old daughter for Xmas on the subject of pensions and investments so she can start to understand the subjects? She's young I know but I would like to get her started. Many thanks!
Nicki | Devon | 15/11/2018 | 2
I am 25 and starting to seriously financially plan out my future. I would really welcome a 'sense check' on my thinking as well as some help on which investment choices to make. My goals are: To invest for 15 years - my risk appetite is very high (i.e. I could afford to lose all my money). Goal 1 - More Important: To have an investment pot of £1,500,000. Goal 2 - Less Important: To be mortgage free. My plan is: 1) Open an annual Stocks and Shares ISA each of the next 15 years. 2) Open Share trading/dealing account. 3) Reduce my mortgage term to 6 years by 2025. I appreciate the above is a lot to go though, but I'd welcome any help and guidance.
Mo | London | 15/10/2018 | 5
Can I use the Help to Buy scheme to buy a house in Jamaica? Kind regards, Kishana
Kishana | London | 11/09/2018 | 1
My wife and I have recently separated. The equity in the house is going to be split 50/50. We don't have any other meaningful assets. We have agreed to co-parent the children equally. My wife is requesting that I pay child maintenance, child care and school expenses. A CMS document states that shared child care results in no child maintenance payments. However, I do agree with the child care and school expenses payments. Our daughter has Autism Spectrum Disorder, so my wife gets a Disability Living Allowance for her and also works full time. If I don't pay the child maintenance, child care and school expenses, my wife is threatening to claim spousal maintenance, and take half my pension. Should I pay the £350/month or take my chances in court?
D | Lincolnshire | 03/09/2018 | 1
Any advice for two young people trying to get themselves a home? My girlfriend and I are saving for a house together. Currently house prices in our area are a ridiculous £300k. The max we can get from banks is about £220k, meaning somehow saving up a whopping £80k deposit. This would take us about 8 years (and house prices are increasing faster than we're saving!) That's not to mention solicitors fees, stamp duty, the cost of moving, furnishing the house, white goods, and any repairs or renovations. It all just seems impossible!!
Joe | Buckinghamshire | 23/08/2018 | 0
How can I pimp my credit score?
Sonia | Greater London | 09/08/2018 | 2
I have cash saved in ISAs and savings accounts - probably a 30% deposit on a property - first time buyer. I am at least 12 months away from getting a permanent job, so at least 12 months away from buying a property. What can I do with the cash in the meantime? Best just to leave it in cash for now, or invest a portion in stocks and shares ISAs?
Malti | London | 25/07/2018 | 2
I have a Virgin Money stocks and shares ISA which I started in 2016 and pay £75 into a month. Can I take a new stocks and shares ISA with a new provider before the end of the tax year?
Balwant | 29/05/2018 | 2
Who offers the best Lifetime ISA for first time buyers?
Genevieve | Yorkshire | 23/05/2018 | 3
Could you be kind enough to let me know what would be the best instant access savings account for me.?I would like any interest to be paid to me monthly. Thank you
Roy | Lancashire | 17/12/2017 | 2
How do I start investing, buy stocks, bitcoin, etc with £100?
Claudette | Bedfordshire | 18/11/2017 | 1
Which is better - property or pension?
Paul | Greater London | 07/09/2017 | 0
Could you be kind enough to let me know what would be the best instant access savings account for me? I would like any interest to be paid to me monthly. Thank you
Anon | UK | 29/05/2018 | 0
What is the Help to Buy ISA and how does it work?
Dylan | Greater London | 07/09/2017 | 0
What is a credit score and why do I need it?
Cameron | Greater London | 06/09/2017 | 1
How much does it cost to make a will?
Sedef | Greater London | 06/09/2017 | 1
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