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Getting a mortgage when one person has bad debts
Hi can anyone help. I'm in a great relationship and would love to get a motrgage in the near future. Is it possible to get a mortgage in only my partners name as there is no way with my very poor credit rating and bunch of ccjs that i will ever be able to put my name to a mortgage deal. My other half has very positive…
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What difference does a guarantor make to a mortgage offer?
I have a friend that is looking to move house (relationship split and all that). She is on a very low wage and has kids to look after so wants a reasonably sized property - more than she would be able to afford via the multiple on her wage. What would happen if she had a guarantor? Would this mean that the prime lenders…
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I'm a shameless rate tart
Hi there, I'm looking to switch mortgages this month and am unsure of which is the best option for me. I've been on an interest only mortgage for the last 5 years but have recently started a better paid job so would like to switch to repayment (and make overpayments of between £500 and £1k+ a month). I owe £255k. I've been…
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Endowment - Surrender or Keep?
Hi, I'm trying to understand whether it's better for me to continue with my endowment policy or surrender it and pay off the interest only part of the mortgage. I do realise that if I cash it in now I will still need to find £9k or so to clear the remainder of the interest only mortgage and I lose the life assurance. The…
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Fees for converting to buy-to-let
All, I have just shacked up with my girlfriend and started a new mortgage on our house. I am renting out the old house, and already have a tenant in. Obviously I need to let my mortgage lender (C&G) know, so they have sent me a form to fill in. They also want a big fat fee of £100 for doing, as far as I can tell, !!!!!!…
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Can someone please critique my motgage plan. First time Buyer!
Myself and a friend would like to get onto the property ladder but we are both finding it difficult to do it individually. We came up with a plan of getting a buy to let mortgage and just renting it out, we are able to live with our parents rent free. However having looked at this we have decided it is not for us as we…
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Mortgage Consultant mis sold mortgage and I started to go ahead!
I never thought the intermediary I have dealt with over several BTL and Homeowner mortgages would do this to me but.... When asked to trawl the market for current remortgage deals on my behalf the IFA got two products offered by the same lender confused, and I ended up thinking I was going for a low rate and free valuation…
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GMAC: Home insurance - a con?
I know this is a mortgage chat room and before you all start jumping up and down it does have something to do with our mortage provider. So please bear with me..... .... Admittedly we have had bad debts in the past and although we have sorted ourselves out now we are currently unable to get a mortgage through the main high…
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Make my equity work - or not?
I have been advised that I could make the equity in my house work for me: (1) remortgage to the full value of my property (2) pay off my current mortgage (3) invest (securely) the equity at a rate above that of my mortgage (4) Use the return to pay off the additional mortgage payments & pocket the difference or put back…
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Pearl Endowment & Promise - Help!
Hi, I've just found this excellent site & need some advice - quick!! I have a Pearl Homebuilder policy - details below: Start date: 02/04/1991 Maturity: 02/04/2011 Premium: £75.20 Target Amount: £40,000 Sum assured & bonuses to end 2005: £26,500 Pearl Promise: £7500 Surrender value in July 2006 was £16,050. Policy update…
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Chances of not getting a mortgage offer...
We are two weeks into the purchase of our first property, we've just had the valuation survey back and it's been valued £7,000 more than we've paid. :j Solicitors started searches begining of last week and are expected to take 2 weeks. Just wondered if there is anything that could go wrong now. We knocked £3,500 off the…
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New Mortgage will leave me skint
I have just been accepted for a shared ownership 2 bed room property. I am really freaked out at the moment because when I calculate my monthly income and expenses I will only have around £50 left over for savings per month. At the moment I am renting in a shared house and on average I save £450 per month. I know that I…
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early repayment charges ?
i have written a letter to my previous mortgage lender as i paid a redemtion of £1500.00 they have written back to me and offered me a good will gester of £50.00 if i sign and return a letter stating i settle my complaint and dont have any claim against them, there is no letter two on the web site and dont know what to do…
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With Profits Endowment
I have just become self employed and was wondering whether or not I Will have to declare the profits from my endowment policy to the Inland Revenue. Any advice would be very much appreciated. Thanks guys.
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Short term fixed rates; pay more interest?
Imagine these hypothetical situations: 1) 25yr repayment mortgage one rate 2) 3yr fix on 25yr repayment mortgage followed by 2yr fix on 22yr repayment mortgage (of remaining capital) 2yr fix on 20yr repayment mortgage (of remaining capital) etc..... Assuming the fixed rate for 25yrs is the same as all the 2yr fixes in the…
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Mis-sold morgage?
I have just been told that my mortgage offer which i agreed to and have had for the last 6 months had the incorrect monthly payment on. They had worked out the figures over a longer period than was stated on my offer. Can i insist that i keep on paying what they quoted/offered me as it was their mistake?
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Shared Ownership Question?
Hi everyone I brought my house on a 50% shared ownership scheme 4 years ago! I currently have a mortgage of £48k and my 50% share has been recently valued at £100k! I would like to borrow some money from my mortgage company to update my kitchen and bathroom but i was recently told by a friend that on shared ownership…
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Help needed!! Endownment Policy
Hi, My Dad took out an endowment policy with Royal Insurance Company called Safelink Plus, I have conatacted Royal & Sun Allince today and they have never heard of the policy. My Dad can't find his policy number and can't recall when he last made a payment - could be a long time ago. Does anybody else remember this policy…
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Abbey Interest Only Mortgage
Hi, I was hoping that someone on this forum would be able to answer a question for me? If i have an interest only mortgage for 160K but my house is worth 240K am i able to release some equity without having to re-mortgage. I have quite high tie in fees with the Abbey and i am one year into the mortgage. Any advice would be…
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Help! Unique situation!
Hi, I'm a first time poster (and buyer) so forgive me if I say anything stupid basically! I have already reserved a house for 225k and have a deposit of 100k so I'm looking for a mortgage of about 60%. The problem is I have no way of proving my income (50k) as it is tax free therefore I can't self-certify because I have no…
