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Remortgage - Fixed or Tracker?
Our mortgage deal comes to an end in May 2011. So we are debating whether to go fixed or take out another tracker. Any advice? This is our current situation; 17 years remaining 49% LVT (£53,000 outstanding - £110,000 value) I start Maternity in May and will most probably be made redundent during maternity leave. Husband is…
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Paying off Mortgage Dilemma
Hello, I am looking for some financial advise regarding our mortgage. At present we have 30k outstanding on our mortgage at a rate of 2.5 percent (unfixed). We also have 30K in ISAs that have an interest rate of 2.80% with Halifax ISA Direct Reward (variable ISA). In the future hopefully before the end of this year/ or…
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Help !
I've just been advised of a shortfall in my endowment policy which should mature in July. I have a fixed term (12month) ISA at 3.64% which matures at end of Jan and need to either reinvest or retain some to pay mortgage shortfall. It seems a double whammy to spend my capital which earns money to pay off a badly advised…
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A default and a quick mortgage needed
Hiya, I was wondering if anyone can help me. Recently I put in an offer on a small house of £72,000 (it had been heavily discounted for a quick sale) which was accepted. I went to the Natwest who I bank with but the system said I had been rejected based on adverse credit which I was shocked at. I have a £21k salary, £1500…
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CEMAP Mock Tests
Hi guys, currently studying CEMAP 1 and i am feeling alot of it is not staying in although hoping it will all come to me when i see the multiple choice questions. Was wondering if anyone can email me some mock test etc. I know the real test is much harder but would appreciate the help and advise. Thanks Thomas
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will default on mortgage this month , what will happen
My mortgage is due to go out tomorrow and i am overdrawn to the max :( what will happen? this has never happened before, first time in 5 years.
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Negative Equity Options and new house
Hi, Looking for advice on my pretty dire situation. I'm in about 20k of negative equity with a mortgage that has reverted to the SVR of 4.99%. We can easily meet the payments so that in itself is not a big deal. Next year, we'd like to move, and so have been saving for the last year or so, I expect we'll have around 25k…
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FTB Charges
Hi, Quick question, do you need to pay service charge on houses? Or is it just for flats?
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Santander Frustrating your Calls?
Do you sometimes find that when you are on the phone to a Call Centre, you are asked to "hold" without being given an explanation, and then find that you have been inexplicably transferred to another member of staff or to a different department, neither of whom are aware that this has been done to you? Recently, I made a…
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Remortgage question
hi guys am a first time buyer and just a quick question. while trying to look for mortgage and choosing between fixed / tracker / variable i want to go for a fixed mortage initially. once fixed term is over the mortgage moves to typical rate of lender. is it easy to move mortgage providers once initial period over.…
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Equity release vs mortage when retired
My mother and father in law have recently retired (both aged 64), they have no mortgage on their home but want to move to a different area which has a slightly higher cost for a desirable home of the same size. Their current home is worth about £180,000 so they would look for an equity release to cover the additional…
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Mortgage Arrears and Credit Rating
:( My partner recently lost her job and although she had another job lined up she broke her foot on holiday! So has been off sick for 6 months now. We have depleted a lot of our savings to keep up to date with all bills and credit agreements. I am now feeling the pain. I had to put my mortgage into arrears for a 2nd month…
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what income is considered for mortgage? Opinions please
I have a yearly salary in my contract, but my husband has only an hourly rate in his contract. Being in construction he works about 60 hours a week. He has payslips for the last years with those hours every week for a year. Will this be takein into account or only his hourly rate times a normal(?) 40hours week? thanks How…
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Mortgages and Fixed Term Contracts
All I am trying to move my career in a new direction and have been offered a 12 month fixed term contract which would be an ideal next step for me. However, during the next 12 months (in about 9 months) I will need to renew my mortgage, so I was wondering if being on a fixed term contract will jeopardize my chances for…
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Would like more money – is it possible?
Hi, I have a tricky mortgage situation and would appreciate advice. Took out a 100% mortgage on a £140,000 property in 2007. Have paid about 5 grand off that since then. We now want to get into a nicer area and a bigger house, close to where we'd like our daughter to be schooled. The new property will cost around £220,000.…
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compensation from banks
hi, i have an existing mortgage with SANTANDER, and we were looking to sell our house and get a new one, we asked SANTANDER if we could have a new mortgage and they said yes, so we sold our house and found one for us to buy, put in an offer, was accepted so we paid out for searches, cut the story short, 6 weeks down the…
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First time buyer
I've just gone through a mortgage application over the phone with HSBC and we've had our DIP approved :) . We have to provide x3 month payslips, x3 month bank statements and passports. No issues with this as we can prove income etc. My question is, i repaid a personal loan of 3k in December last year with my bonus from…
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Legal and General Endowment, surrender or keep ?
We have a L&G with profits endowment policy and would like to know what is the best option, surrender or keep ? The last statement I got from them was 31/12/09 Start date 08/06/89 Maturity date 08/06/14 Basic sum assured £24405 Guaranteed life cover £79752 Existing bonuses £15292 2009 annual bonus rate applied to sum…
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repayment vs. interest only? Is one cheaper if interest identical?
I am trying to figure out what is the best option for me, repayment, or interesting only plus as much extra as I can afford to repay. Hypothetically, assume I had 2 mortgages, both with identical fees, and identical interest rate of 4% over 3 years, but one is interest only (with unlimited capital repayments) and one is…
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Porting then remortgaging - Problem?
Currently looking at moving to a larger house, we have the cash saved for the difference in price/value so no additional borrowing required The mortgage is a NR together mortgage £115k mortgage + £15k unsecured loan so £130k all together Our 5 year fixed rate 5.99% ends in November so we were going to port the mortgage to…