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727

This is the first Iā€™ve heard of this. How does this work? Surely you always need a conveyancer to act for you.

Any more info you can share? Doesnā€™t seem to exist online yet.

728
3 Likes
729

You definitely need a conveyancer acting for you if youā€™re buying or selling. But this is remortgaging, where all thatā€™s really happening usually is a change in whatā€™s called the ā€œfirst chargeā€ on the title register, held by the Land Registry. Itā€™s the thing that stops you selling your house without paying back your mortgage(!)

And @Peter_G has found us. Itā€™s super early days. Iā€™ll post in a separate thread in January, rather than hijacking this one (further :joy:). Except to say if you are at the point of remortgaging, do take a look! Itā€™ll probably cost more than the value of the cashback, but our legal partner would be acting on your behalf, and we promise to make the journey as smooth as possible for you. Oh, and thereā€™s no Ā£45 fee to see whatā€™s happening with your case(!!)

1 Like
730

Any plans to add support for base rate tracker mortgages? Currently my rate is BoE base rate + x.xx% and thereā€™s no way to add this into Monzo. I instead have to set it as a fixed rate and update the percentage each time the Bank of England issue a new base rate. Not a major issue but it would be nice if I could just set the x.xx% and Monzo would monitor the base rate and automatically update things for me :blush:

Down the line you could even add a clever calculator which, when the base rate is updated, would tell me what my new payment amount will be and how much Iā€™ll save (/lose) each month with the new rate

1 Like
731

Feels like feature releases related to mortgages have stagnated a bit, I wonder if itā€™s still being worked on. Seeing your estimated house equity is quite useful, but estimated value fluctuates a lot, and hard to really see a general trend. I think a chart would help here.

2 Likes
732

Hi there,

I currently have more than one mortgage on my home since we moved as we needed to port the existing mortgage over and then borrow an additional amount.

Will the Monzo app recognise the two mortgage products and provide the correct figures?

Additionally, it would be great to have a way to add BTL mortgages on there so we can manage those seperately.