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Mortgage problems and wills
I hope someone out there can help ... My wife and I have lived in the same house for 18 years and our current outstanding mortgage balance is £135,000. Our mortgage type is a part-repayment one and currently costs us in the region of £1,100 per month. Last year I was unfortunate enough to lose my job and was unable to find…
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Interest free mortgage
Hi, I was talking to a friend the other day and he said that he knows someone that paid his mortgage off using several credit cards. He took advantage of the various interest free deals, so is paying his house off interest free. Is that possible? I suppose the only pain is that he has to start new accounts every 6 months,…
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FOS and FSA, incestuous relationship?
Interesting article in the Sunday Times, 27th March 2005, primarily regarding the Equitable Life scandal but Paul Braithwaite's comments are very relevant to the activities of the FOS and the investigation of the sales of endowment policies. “The ombudsman’s incestuous relationship with the FSA is totally unsatisfactory.…
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Endowment Mis-sell
I was sold an endowment for my mortgage pre 1989 by an IFA (my solicitor at the time). His company has since gone into liquidation. Has anyone experience in 1) Claims for compensation for policies pre 1989. 2) Claims against a now non-existant IFA?
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Standard Life
Just received the Yearly Statement for my Endowment and it makes unpleasant reading and I can feel an outraged letter to Standard Life coming on The plan value as at 1 Feb. 2004 was £12,750. Since then I've made payments of £435, but the plan value as at 1 Feb. this year is £12,495! So despite my contributions and a bonus…
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Let to buy mortgage
Hi all, Does anyone know anything about the 'Let to Buy' mortgages , in simple english for a financial thicko please...:0)
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Not sure what to do.......please help
Morning all, this is a long one so please bear with me. We own our current property with 35k outstanding on the repayment mortgage. We want to buy a second house and have seen one for 200k that we like. My partner can get £170 on his wage for a new mortgage, so we need an extra 30k for the new house. We thought that we…
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Remortgage
I live (rent a house) in the south, but I own a small cottage in Wales where I would like to retire in 15 years time. The property has been valued at around £80,000. The cottage is completely free of any mortgage and it's value will increase once it has been given a good makeover. I would like to borrow £30,000 to…
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First time buyers in London
I don't know much about mortgages admittedly, but I don't understand how people even on good salaries get onto the property ladder in London. I have read that around 4.25X is about the top whack you can get on income. So even if someone was on say 30k, then they could still only be looking at property around 130k at best.…
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still being chased
hi ,the bradford and bingley are still pursuing my friend nearly 7 years after the house was repossessed ,there was a shortfall of £16,000 when the house was sold.they then accepted a lump sum payment of £1000 of my friends ex-partner,he was disabled and will never work again. they then started to chase my friend for the…
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Remortgaging dead end
Hi all I have a mortgage with Northern Rock for £138,000. The property is valued at around £250,000. My salary is £30, 247 and I have come to the end of a favourable rate of 3.89% with them and am now shopping around. I seem to be very limited due to the income multiples. I know Northern Rock were generous when I took over…
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Renting
Hope this is the place to post this. Its for a friend of mine, she has a house (mortgaged) and b/f has a house, they are thinking of moving in together but not to sure of the consequences for her house. She will move into his property with the children and dogs. At the moment she claims IS and DLA as her youngest child has…
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Redemption penalty mistake ?
I was sure I had a redemption on the mortgage with my building society until next year, but on enquiring this week an adviser told me I had no tie in remaining, she is going to sent this in writing, my question is if I remortgage now and they change their mind and want a early redemption charge, where do I stand ? do I…
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Anyone used First Active
First Active seem to be advertising strongly at the moment, has anybody used them. We will be looking for a new tracker in June (like loads of other people), and are currently with the Nationwide, but am prepared to change. Thanks.
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which mortgage providers lend more?
I need a mortgage for 4 (or close to 4) times my salary to be able to afford a half way decent home where I want to live.(FTB) Trawling through some providers websites gives varying results some state only 3 times income, some provide natty calculators to give that same result, the odd one will lend almost 4x (using a…
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Mortgage for investment properties
Hi, scenario is such, there are 4 people who are looking to buy 2 investment flats in the region of 190K each as investment properties. Whose names would be best to have the mortgages and thus the deeds of the house on. Can 1 person obtain a mortgage for 2 properties which are next to each other and are being bought of the…
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Taking second charge on mortgage
I want to 'borrow' against my equity, for example house is currently worth 100K, (remaining mortgage is 65K), want to borrow 10K against mortage to put in a new kitchen/bathroom etc... which will enable me to sell house for 125K. Make sense? Any receommendations, ta!
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Mortgage advice - buying second home
Hi, I currently own an appartment which is under a mortgage with Abbey. I want to buy another appartment, but rent out my existing appartment. Can anyone provide me with advice on what I need to do? Thanks - K
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First-time buyers - advice please
My son and girlfriend are looking to buy their first property. I've looked at the various mortgage option advice parts of this site but I don't see how much they can borrow. It used to be (x) times one salary plus (y) times the other. Are these days of judging ability to pay gone and you decide for yourself how much you…
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re- mortgage
we want to buy a property abroad,for about £88, we have paid off all our mortgage on our house,its value is approx £94, have had a quote from derbyshire building society " for fee free fixed for 3 years "rate 5.30%,for remainder of mortgage 6.75% will lend us 80% so £75,200.sound fine to us is there a better deal out…