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When to get a mortgage?
I want to buy a house this year and have been told that the interest rates will go down soon so I am happy to wait. However I checked the Bank of England interest rates and noticed that it is a lot higher right now than it was last year or the year before. Does this not mean that it is literally the worst time to borrow?…
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Mortgage Chances - Adverse
Hey all, I know there’s been multiple posts about adverse credit mortgages but I haven’t seen a post like this recently with similar circumstances and I’m looking for an honest opinion from on what my chances look like. My income - £60k per year. Adverse credit: CCJ from October 2018 which was settled in June 2019 and less…
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Melton Mowbray Credit Assist
Hi does anyone out there know if Melton Mowbray allow PDL’s on their credit assist products? My broker is talking of looking at them. I can see on their normal products it says any evidence of PDL’s will lead to a decline but I can’t work out if that is all products or excludes the credit assist products I know you’ll say…
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Pay off mortgage
My fixed rate mortgage expires in a few weeks. The balance before i started making recent overpayments was about £30K. i have six current accounts because I use to take advantage of deals e.g. £100 cash back to open an account or to switch accounts. I made three overpayments in one day (about £7K in total) recently. I…
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Overpay with inheritence
Sadly I have come into an inheritance and want to make it go as far as possible and help my family as much as possible. I plan to max out an isa. my current mortgage deal is 1.94% for another 2 and half years fixed. The amount is £344,000. i can overpay 10% without penalty and feel I should do this but am I better waiting…
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Borrow more than purchase price
Long story short - agreed to buy family house for 40k (it is worth 120k) but it needs a lot of work. I’m a FTB. I asked the mortgage advisor if I can get a mortgage to do this and he advised I cannot mortgage and remortgage at the same time, which is effectively what I’m trying to do. I can however take out a mortgage for…
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Earnings multiplier for mortgage
Which high st lender is the most generous with earnings multiplier for mortgage? Combined earnings around £80k with 80k deposit. HSBC seems slightly better than NatWest but any suggestions? Both jobs salaried and in role over a year no adverse credit etc
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Credit card use.
Hi. I pay off my credit card each month and it always shows a 0 balance on my credit report. Is a lender able to tell that I am using it if my balance always shows as 0 onmy credit report? Thank you.
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Mortgage application rejected.
Good morning. Can anyone offer me some information, insight or advice on the following dilemma please. I am a 61-year-old, single first-time buyer, using the Mortgage Advice Bureau (MAB). I have no equity and a small deposit of 10%. I put in an offer on a retirement property, paid the application fee and paid the first…
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Is letter of consent and postponement a standard ?
hi All Just trying to remorgage the house with first direct and they need the letter of consent and postponement from my wife. The mortgage is in my name as i wonder if this is a standard procedure for all banks to require this or not? It is rather strongly worded which got me worried if she really has to sign it. Regards
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Mortgage for over 60 in home with no building regs certificate?
My husband and I have been living in our home since the 1990s. The house was built in 1986. The house has no building regs certificate from when it was originally built and is slightly larger then the original planning permission allowed. Our mortgage lender was happy to lend to us as the previous owner had a mortgage. Our…
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What counts as PDL to lenders
Hi folks Applying for a mortgage with Skipton, who don’t take anyone with a Payday Loan in the last two years. But a lot of back and forth online as to what classes as a PDL to lenders - products like Drafty, Finio, Pave etc… Any informed thoughts/experiences welcome.
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Are companies like L&C or Habito good for adverse credit applications
As per the title. We are in a better financial state than a year ago and would like to find out if we could remortgage or move now. Do companies on the MSE Broker list like L&C work ok with adverse credit applications?
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Does portaging save you money?
Hello all, I’m soon coming off my fixed rate (next 5 months) and have some questions about looking for a new provider. Should I stick with my existing mortgage and fix it for another 2 years, or does remortgaging actually save you money considering that interest is front-loaded over the principle in the earlier term of the…
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Have I been mis sold my mortgage?
Newbie here so please bare with me...I bought a small property next to a care home and belonging to it that I was MD of in 2002 and got plans to extend it. I got a 110k mortgage from Barclays to start the work in 2005 then in 2006 got my full mortgage of 300k. At this time Barclays valued my completed property at 650k.…
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Own New Mortgages
Has anyone taken out an Own New Rate Reducer Mortgage and if so what was your experience? It seems like an absolute no brainer with the current market mortgage rates and I was surprised to find it has not been covered yet by Martin or anyone at MSE. For those wondering what it is, when you buy a new build house from…
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Lost Endowment Policy
When I bought my first house in 1985 with my then fiancé we took out an endowment mortgage. 6 years later when we split up I re-mortgaged the house with a repayment mortgage but never cashed in the endowment. I did however stop payments to it. I no longer have any of the documentation, have checked with the solicitor who…
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Cash advance credit card before mortgage
Hello I need some advice please and hopefully no judgement. I used my credit card through PayPal to send £4000 to a friend of mine over 6 different payments as I was purchasing several items from him for my business. Little did I realise but Barclays classed these is a “cash like” transaction and charged me fees and marked…
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No more fix as the end is nigh!
My fixed rate ends July of this year and I've taken advantage over the last 2 years of making the full 10% overpayment. I will have 4 years remaining. Bank have now written to reduce my payments so I remain in the 4 years to pay it back. Nice to have that extra money but even nicer to have the whole amount to play with…
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Kensington
Second lot of questions from Kensington Mortgages, nothing sinister.. asking for proof of deposit and confirmation of freehold… however they have asked about childcare costs and for current landlords details. Anyone with experience of why they want the above? They have also put on last point ; Additional Information -…