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Mortgage advisor fees
Hi all! I am looking to buy my first property and have been to an estate agent where their independent mortgage consultant charges a fee of 1% of the value of the mortgage. Is that reasonable? Also what are your experiences with the independent mortgage advisors as compared with banks? Thank you!
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Mortgage Leads
I'm looking into methods of generating leads and would be interested in hearing the views of other brokers on here about the likes of PAA Leads / Leadbay etc. PAA have recently started to split out house purchase and remortgage leads but the price of their remortgage leads has risen. Going back a few months they were…
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Mortgage deal ending but want to move house
My exisiting 2 yr fixed rate with Halifax ends in April we am now considering which (if any) provider to go with next. Our outstanding mortgage is c£50k which is well within our means at present, but we are considering moving house in the summer. If i remortgage now I would possibly incur large arrangement fees and then…
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Birmingham Midshires increasing all their rates
For mortgages - from midnight tomorrow.........apparently ;)
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Stroud & Swindon BS - 5.09% (5 year fixed rate)
Hello Forumites, I'm looking to remortgage in the next few months & I've just found this remortgage product with the Stroud & Swindon BS this evening.* 5.09% (5 year fixed rate) * Followed by 7.29% SVR * Overall cost for comparison 6.9% APR * Product fee £1999 * Free valuation * Free legal fee's Yes, I know the product fee…
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Remortaging???
For 2 years I have had a fixed rate mortgage with NR which ends on 1st june 08, then its moves to a flexy. With the rate it will be for the flexy I have found it is something I could afford but leaves me with nothing for other situations. I am now looking for a long term fixed rate and found that NR can not compete with…
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Prudential problems
Anyone else had difficulties getting a maturity value or claim forms from the Pru ? They have been fobbing me off for a month or more now with less than 3 weeks left before my endowment matures. I am still waiting for the claim forms to arrive even though I have been promised the paperwork for weeks, doesn't seem very…
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What mortgage compare websites do you use?
Hi everyone im a FTB and looking at buying my first home, and im going to view a house tomorrow. I have been to an independent mortgage advisor which he seems genuine and taken all my details and what sort of mortgage and how much im looking at paying back. He said in principle i will have no problem of getting a mortgage…
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Maxidowment Plus Policy Woes - Horror
ADVICE PLEASE In 1999 my wife took out Maxidowment Plus Policy with Friends Provident _ £50 per month with insurance cover of £4500 - with horror we have just noticed our annual bonus of 0.91 pence - thats rigth ninty one pence. We have invested this year £600 into this policy and they issue us with a £0.91 bonus. Of…
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Moving House - Will I need to rent before I can buy?
My fiancee (a doctor) has a new job and we have to move. We're completely happy to do this, but I'm concerned that we won't be able to get a joint mortgage until I've been in a new job for 6 months or something. :question: Will I need this proof of income? I have been in my current job for 2 years, worked in a previous job…
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endowment advice sought part 2
hi there I received some excellent advice a number of weeks ago regarding my own endowment policy and my father has asked me to ask again on his behalf ...so here goes he has a Legal and general with profits policy start date :22/04/1993 maturity date: 22/04/2013 target amount $27000 premium :$80.07/month………..can’t get…
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How do I get 'evidence of borrowing capacity?
Hi, going through a divorce and I have to show the Court my evidence of borrowing capacity, so I phoned Barclays Bank, (two accounts, an ISA and a shareholder!) and they wouldn't give me an estimate or quote based on my salary, they said I would have to make an offer on a house and fill out an application form for a…
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Miss-sold endowment
I believe I was miss-sold my endowment in 1990, I was told I would not only pay off my mortgage but would have a lump some as well. I did question this a couple of years ago when all this came to light, but I was told that my 3 year time period had run out, because there had been a warning in previous letters from them -…
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Is this normal?
We got our shared ownership mortgage accepted in principle from Leeds Building Society at the end of January. We sent off the proper application a week afterwards and another week after that they needed more documents. We sent them off 2 weeks ago and the valuation was done 3 weeks ago. We are using a mortgage advisor who…
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No more 95% lending? The pace of change is breath taking.
I've been in mortgages since 1991 and I've never seen anything like the rapid martket contraction we are currently going through. Today perhaps a little late I've learned C & G will now no longer lend above 90%, which is a certain sign of just how delicate the UK property scene has become. Sub prime lending has been…
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Fixed Rate Mortgage Arrangement Fees
Hi Folks, I have just sorted out my next fixed rate mortgage but have to confess to being rather miffed at what I feel is an exhorbitant arrangement fee. Can someone please tell me exactly what 'arrangements' the bank makes to justify this large charge. I have no problem with the charge per se - nothing for nothing in this…
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Chelsea Building Society
Hello, Just a quick question that maybe some brokers can help with. We have applied for a mortgage with the Chelsea, near prime. We have been agreed in principal and the valuation has been done and is as the agreed price. I understand that the next bit is the underwriters have to check the application, any idea how long…
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Does a lower than expected valuation mean re-assessing affordability?
I've applied for a Direct Line mortgage, and so far everything seems to be going ok - although slowly as apparently their underwriters have a huge backlog and i won't be assessed until end of the week. Affordability had no issues, and some credit cards will be paid off with my half of the equity (the other half going to my…
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advice please
Hi im new to this and would appreciate any advice i have a mortgage of £57.000 it is an interest only,at 11% i have contacted a mortgage broker and he can get me a new one at 7% which is over 8 years. because of poor credit record in the past he explained this would give me a chance to repair my record and that after 2…
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Quick question re: interest only mortgages
Sorry if this seems like a daft question :o If you have an interest only mortgage and the mortgage term ends. I assume the bank expects you to pay off the capital? Should you be saving alongside it or have an endowment? In the current climate, I can't really understand why people prefer to have an interest only mortgage…
