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Mortgages & Endowments sticky
Please be aware of the MSE Forum rules when posting on this board, notably: * If using the Forum as a professional, please note that posting on behalf of your business is only permitted if you are an MSE verified user. * Advertising and spam are not permitted. * Do not share any personal information, such as your own or…
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Mortgage application for self-employed refused, next steps?
Hi, We have 7 years and about £175,000 remaining on our 25-year mortgage. We're currently on life-time tracker with Bank of Scotland 0.85% above BoE, so 6.1%. At the moment we pay £900 per month interest-only. I've applied via Fluent Money (got linked to them from MoneySuperMarket). They assessed us as: 1. Excellent credit…
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Bluestone Mortgages
Hi All, We've recently received a DIP with Bluestone, my credit file is in a terrible state and to be quite honest, I firmly believe our broker performed nothing short of a miracle to pull this off! (Lets just say- missed payments in January, payday loan 5 months ago, a DMP and 2 defaults 7 months ago... the list goes on…
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Best way to release equity when I live overseas & only UK income is the rent on that property?
Hi all, here's the basic info. BTL mortgages seem impossible to find now (I'm 50). What's my best route to release equity?: Rental income: £2,250 PCMProperty value: £500,000Existing mortgage outstanding: £230,450 Equity: £269,550 I need to release: £150,000 (to pay back a second loan that is maturing) Total loan on…
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Timing of using savings to bring down mortgage before remortgaging
We fixed for 5 years in 2020 at 1.3%. Since then we've been saving because our savings rates have exceeded the mortgage rate. We now have a sum of money we'd like to use when we remortgage to bring down the amount. My question is about the timing of doing this: would we need to go on to the SVR first, use the lump sum,…
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Porting Mortgage with Top up
Hi, Looking for some advise. I am currently on a fixed 1.69% rate until feb 2025 to which im porting to the new property with an additional top up mortgage. I need advise on whether to fix the top up mortgage for 2 years or 5 years. The 2 years is an extra £25 a month which isnt the issue i need advice with whether if…
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Mortgage broker - ask me anything
Thought I would start a thread where people can ask the brokers opinion on things @ACG @LRmortgage @kingstreet @Deleted_User (any other brokers want to chip in - these were the main other brokers who came to mind. It is definately an interesting market - probably the busiest I have ever been but at the same time lenders…
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Removing Person from Mortgage
Hi, I split from my ex-partner last year and we have a joint mortgage together. There is around £110,000 left on the mortgage with around 23 years left, and I have applied to have my ex partner removed as I have no problem with paying the payments myself. I have a salary of around £26,500 and zero other debts to my name so…
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Natwest New Deal
Hi there, Please advise. Current rate of 2.84% ends in July LTV was 76%. Just had a look online, new rate shows 6.0% LTV 80% 2 year fixed. can a broker get us a better deal with Natwest or does it have to be with a new lender? We’re not in a position to change lenders as partner has missed a few CC payments but now…
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Newcastle Building Society Bad credit
Hi I've been spending the past few weeks scrawling these forums looking for someone who had circumstances similar to ours that have gone with Newcastle Building Society but have had no luck. Can't seem to find any experiences on Newcastle Building Society mortgages at all! So me and my partner are first time buyers and…
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Mortgage with incorrect defaults on file
Hi, I entered into an IVA in Feb 2018, that is all done and dusted, over 6 years and gone off my credit file etc. apart from 2 accounts that show a default date of August 2018 that were included in the IVA (they should be gone too). I recieved a mortgage in principle from the Halifax earlier this month who asked if I’d had…
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Please is this sounding right
So I'm working out some rough figures. Took out mortgage in 2007. 110,000 and 15,000 loan. Paid back so far approx 119,000. However at current rates and with year remaining total amount repaid will be £258,000. This seems wrong. So over 100% the original amount will be interest. Pure interest.
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Mortgage provider insisting I pay default rate of 8.5% on inherited property
Dear Forumites, I am hoping you might have some advice about a mortgage issue that I have. After my father very sadly passed away at the end of 2022 I inherited a property. The house has a mortgage on it. The process of gaining probate was particularly lengthy due to HMRC delays and I eventually gained probate at the end…
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Gifted deposit
Need advice please…..I was declared bankrupt in June 2019 and discharged June 2020 and have since managed my finances building my credit score. My daughter wants to buy her first house and I would like to provide a gifted deposit of £3,500. Would her mortgage provider (Skipton Building Society) allow this?
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Mortgage comparison websites - ? False advertising
Hi, I have found a pretty amazing mortgage deal on several mortgage comparison websites today (including MSE) but when I go to apply, the rate on the suppliers website is actually much higher. Are they allowed to do this? Surely its false advertising.
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Mortgage application sole person on deeds (partner providing deposit) needs help!
Hi all, my colleague is in a predicament so Im posting here to see if anyone can provide clarity to her scenario. She is 30 earning approx £38k Teacher, has a student loan deduction £120 a month. (althiugh soon to be earning 41k, in Sept) No debit Her partner is older 48, limited earnings as Currently studying - has…
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Kent reliance - our story & timeline (mortgage with defaults and other issues)
Hello. Just wanted to share some positive news , as we've finally got our offer with Kent reliance, after been declined in January. Little bit of a timeline : 27/12/23 - Applied for a full mortgage 04/01/23 - additional documents 16/01/23 declined 27/02/24 - re-applied 08/03/24 - offer received A bit of a background - we…
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Additional borrowing on mortgage
Our current mortgage comes to an end in June so we need to find a new deal. We want to increase the mortgage at that point by approx £45k to allow us to do some renovations on the house. We also have some debt on credit cards although at 0%. Will this debt affect our chances of getting the additional borrowing on the…
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Offset mortgages
We are currently looking at an offset mortgage. We will end our current "deal" early and move to an offset as financially it works out better. We are offsetting as we are able to 100% offset. We have £60,000 mortgage and have £60,000 to offset so we will have an 0% interest rate. We have seen one offset that has unlimited…
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Help to Buy - Repay after 5 years or leave as is?
We purchased our house for £599,950 in April 2019 using the Help to Buy scheme (20% interest-free loan for 5 years). We took a bit of a gamble in that we bought a substantially bigger home with a view that we wouldn't need to move again (I was 31 at the time), so I viewed the repaying of the 20% as our final move up the…
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Advice on what to do
My son & daughter in law’s fixed rate mortgage comes to an end 31/05/24. Currently with Barclays fixed at 2.14% for the last 5 yrs. Barclays have sent them the options to renew & some have £0 product fees while others range from £899-£1749. The options they are looking at all have zero fees. They’re thinking of possibly…