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Another 'should I cash in my endowment?' thread.
In brief, we have the ‘managed life fund’ here. So, any thoughts? Would you cash it in? And if so, then do what with it? Many thanks. . . . More detail and the story so far (sorry it's so long)… In Oct ’00 we bought our first house and regrettably took out an endowment mortgage. I am furious at myself for my own naivety.…
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equity release
I have a house valued at £300.000 and I want to release approx £10,000 per year for living expenses etc. Can somebody look at this scheme and work out the length of time before no equity. Some assumptions initially 1: Interest 5% (for simplicity) 2: House inflation 5% again for simplicity Year 1 Borrow £ 10500 500 for…
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A dilemma, should I stick with endowment or surrender??
To all you very helpful people, I would really appreciate your advice to help me make up my mind (although, yes I know I should be going to a IFA). I have been offered compensation for my HSBC endowment policy being missold which is great news (£3600):j They have also offered to pay me £16500 to surrender my policy as well…
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Current good Buy2Let remortgage interest rate?
Hi, I had to move from my home due to a lot of personal problems and have rented it out. My mortgage is with the Halifax and they moved it over to a 'Consent to Lease' mortgage fee free with no tie-in period at 7.25% on a tracker on 20th March. I have 23yrs 2 months left and £89,155.21 outstanding. I would like to know if…
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Current good Buy2Let remortgage interest rate?
Hi, I had to move from my home due to a lot of personal problems and have rented out my house. My mortgage is with the Halifax and they moved it over to a 'Consent to Lease' mortgage fee free with no tie-in period at 7.25% on a tracker. I have 23yrs 2 months left and £89,155.21 outstanding. I would like to know if anyone…
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Time to remortgage
anyone got any suggestions who i should approach. whats the best deals for a remortgage at the min. Would i need to pay any fees? For example who pays for the valuation (i would be looking to take 4 or 5k equity) thanks in advance :D
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Please please help - mortgage at standstill?
Hi all, apologies for my lack of knowledge and understanding but i am at the end of my tether. I have been tearing my hair out and don't know where to turn. My fiance and I are both 21 and have sought the advice of a financial advisor with view to getting us a mortgage. We are buying a property (from a family member) for…
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HELP - my mortgage is falling through week 15
hello all im very stressed out at the moment.:mad: Ive purchased an empty house on feb 2nd for £100,000. The owner has died and the seller is hes son. A week or two into the process the mortgage lender (accord mortgages) said after their avaluation, that we needed to get a damp and timber survey done. I done this and it…
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Legal Charge Form
Hi, I am in the process of remortgaging with first direct, I emailed them and asked for an update, They told me they have a valid offer document and valuation, However they have been in touch with their security processing centre to ask if a LEGAL CHARGE FORM has been issued, Could someone explain what a legal charge form…
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Several mortgages on the same property
Hi I'm hoping someone can offer some advice. My OH has a property that he owns in addition to our joint property. On his property he has increased the loans against it several times over the years. Therefore he gets several statements each month, not just one. They are all with A&L. My question is if we decide to look for…
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Mortgage calculation
Hi, I hoping that someone will be able to help me with what seems like a trivial calculation. My current mortgage is: A The outstanding amount on this mortgage is: B The current value of my house is: C The house that I'd like to buy is on the market for: D The amount that I'd need to borrow (mortgage) for this new house…
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Re-Mortgaging for freelancers
Dear all My husband and I have a 150k mortgage on a maisonette in North London, which is now worth approximately 250k. We purchased our property about five years ago and have an endowment mortgage. Between us we have about 20k of debt which we would like to get rid of. When we took out our mortage we were both in full time…
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overpayment
If i get given money by family to reduce mortgage is it better to reduce the term (by 9 years)or the payments (only reduce payment by 50 per month so no real day to day difference) - unfortunately they won't let me pay off my cards with it!
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Bank charges not unfair. Bank wins first court case
Sorry it's a little off topic but this question does rear its head quite often on the mortgage board so I thought I'd post it here. Specifically it relates to Lloyds who have today become the first bank to win a court case after being sued for £2545 "unfair" charges by a customer. link here to full story…
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Paying for Halifax's mistake
We have a mortgage with The Halifax. We looked at 2 houses before we bought the one we have now & consequently had 2 different mortgage offers from them. When they changed the mortgage offer for the 3rd house they made a mistake & put the extra money on a different product. They were asked to change it & they said that…
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Plod on with endowment or sell ?
can anyone offer any advice ? I have 10 years to go on my standard life endowment. it costs £45 a month and has a current surrender value of £9900. It was to pay off the mortgage (£34K) but is forecast to be worth only £19.5k at maturity(assuming @ 5.55 growth per year). It is now used as a savings policy as I have…
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Can it work like this?
Hi all, Hoping for some advice please! We have a mortgage agreed in principle with Abbey for maximum borrowing of £240k with a 5% deposit. Basically, i was left £35,000 inheritence a few months ago, and we decided we would use about £15-17k of this for a deposit for a house. We live in Kingston Upon Thames, Surrey and are…
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Mortgage help with costs tie in
Hi, We have a mortgage with the Northern Rock, at the time we took out the fixed deal we opted to pay a slightly higher interest rate and get £1k help with costs. The fixed rate ended and went up to variable, so I attemted to move it - only to be told that up until 18 months later we still had to pay back the £1k help with…
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Offer sent,but need to amend the figures..How?
Hi All Basically we're in the process of remortgaging and the offer letter has been sent out to us by our new lender. Its now been realised that we will need to increase our advance slightly from our original application by 2k-(this is still well within our affordability limit). Is it now too late to do this and if not…
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Contractors and mortgages
Hi, My friend is a contractor and currently has 2 months of her original 4 month contract remaining and its just been extended by another 4 months. She says she gets a payslip and paid holidays (but no pension etc) which I think is unusual for a contractor (not one myself). We were discussing mortgages recently and she…
