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Endowment surrender: can I use money to pay off mortgage while on benefits
Hi All. Like most people's endowments mine has performed badly. It's a 25 year policy with 5 years left to run and I expect the shortfall to be around £18,000. It would be better to surrender the policy now and use the money to pay off more than half of my mortgage. But if I do this will I violate any DWP rules (£6,000…
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Cashing Endowment: quotes online/reputable companies
I have a friend that doesn't use the internet and wants me to help him look at how much he might get for his endowment, I really don't know about these things, could anyone tell me anything I might need to know/which are the reputable companies? because I'm just googling a list of companies wanting all this information…
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Valuation Question
My partner and I are now coming to the end of our 2yr fixed deal with NR. We have been to a mortgage advisor who has advised us we will be better off staying on their SVR. He has said that whatever our house is worth, all mortgage lenders are downvaluing by 10% so we are likely to still need a 100% to cover it, which i'm…
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Want To Give Mortgage Money Back
I took out a mortgage for £45,000 on a 2 year fixed rate that ends in March 2009 to pay off a debt for a relative but I've changed my mind about doing that. I want to give the money back to the building society. Am I right in thinking that there is no early penalty charge (£695.00) if I give them the money back at the end…
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General mortgage & legal advice needed
My wife and i are currently renting but are looking at buying a house for £200,000 (simaler props in the area are up for between £220 and £250,000). Unfortunately we only have a 5% deposit saved and with 95% mortgages few and far between and at much higher rates of interest we are looking at alternatives. My mum & dad wish…
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First Direct Offset Tracker?
My fixed rate is up in January and so I'm starting to look around. Given the BoE base rate is likely to fall, possibly quite significantly next year, and fixed rates aren't great at the moment, I'm looking at base rate trackers. From looking around, it seems that either Nationwide or First Direct offer the best here. The…
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B****y Nationwide!
Why are people so incompetent? I allowed 3 months to get my mortgage rearranged as the 2 year fixed deal was coming to an end. My nice advisor found me a 3 year fixed deal (glad I did now) with Abbey and set it all in motion. Things stalled a bit when I had to phone 4 times to get hold of the questionnaire thingy, but it…
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Will lender write to me?
Easy question! Current fixed deal comes to an end at end of month. Considering moving in new year (yes, I know...) so we won't be getting another fixed deal. We'll revert to SVR for a few months to give us maximum flexibility come the new year when we're borrowing a bit more. Question is, will my lender (A&L) write to me…
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RBS One Account – Do I need to be Worried??
Hi, Looking at what has gone on today and over the past 6+ months with RBS, should I be worried or looking to jump ship anytime soon? I currently have about 100k mortgage, but with savings and my current account taken off the mortgage value, the actual value of the mortgage is about 91k at this time. As I have little money…
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Releasing the value of our property
My wife and I had planned to sell our flat, pay off our debts and emigrate. However, with the slowing market, our flat is now proving difficult to sell. Even accounting for the downturn, it should still survey at £90,000 (it would have been (95-100,000) at the turn of the year. We have it on the market at £85,000 and are…
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HELP! Mortgage offer droped after valuation
Had a mortgage booked with HSBC for £111,000 (Bought house 2 years ago for £129,000), we paid the booking fee and then they got the valuer to value our house but had a letter this morning saying the valuation only came to £110,000 and they could only now offer £99,000. Im convinced the house is worth more than that (as one…
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Remortgage
I want to remortgage but dont know whether i should take fixed rate or tracker? Any comment would be welcomed Many thanks PS I have under 75% LTV.
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SVR-Mort docs say 2% above BoE,is it fixed?
Hi all - I've been out of action for a while and am needing the support of the forum again. I'm trying to find out if my Standard Variable Rate will stay at the % above Base Rate quoted in the Mortgage offer paperwork. Is it contractual or can they move the SVR % around? Any help gratefully received.:confused: Jo
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EdInvestor...got the figures you need
Eventually got the figures for the endowment we took out to cover our £22500 mortgage Post some info about the endowment. Guaranteed sum assured £8618 Declared bonuses £11210 Surrender value £23271 Monthly premium £31 Maturity date 09/03/2009 Maturity forecasts £24169 Monthly Mortgage Payment £105 EdInvestor, would we be…
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Northern Rock deal coming to an end Jan 09 need help!!!
Hi, Just wanted to see if anyone could shed some light on my mortgage dilemma! My deal with Northern Rock ends in Jan 09 I am currently paying £400 approx interest only (been on a interest only mortgage for 4 yrs now due to having children etc) My intention had always been to go repayment from Jan 09. We sought the help…
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Coventry SVR history
Does anyone happen to have available the recent history of changes the Coventry BS's SVR and 'privilege rate'? The last couple of years of values would be plenty. Many thanks!
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Endowment with the Pru - cash in now or not?
We have two endowments with the Prudential which are intended to pay off our mortgage of 35,000 when they mature 01/12/2009. At the moment there is no predicted shortfall and the current surrender values of 11,135 and 28,568 (which is guaranteed only for another 2 days) will pay off the mortgage easily, even with early…
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cheapest btl 10 year fix
Had 5.99% fixed for 10 years booked last week and before i could pay for valuation it got pulled!!!! Any others that someone can put me onto? Lower fee's the better.
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Mortgage Advice
Newly discharged bankrupt seeking a mortgage in this current financial climate. I have trawled through many sites seeking out what their criteria is. Most won't even touch me, some however are prepared to give me a chance. I am looking at a property approx £155k (if they accept my offer) i have £35k for a deposit and am…
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how do i get a Mortgage
i was just wondering if anyone could point me in the write direction as to getting a mortgage im 21. do i phone different bank's book a time to go in and just get quoted or something :S
