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5 Year Fixed, 60% deposit, second mortgage?
Hi all Im new to the site but with all the recent happenings with regards to the house prices etc it got me thinking and i am looking for some advice. I got a mortgage last may on a middle terrice in Manchester valued at around 165k. I was lucky enough to have 90k to put down on it and the rest i got a mortgage for and am…
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Should I transfer from interest-only to capital & interest?
I have a flexible mortgage with BoS at their SVR, currently 5.35%, with a 20 year term. The mortgage was set up on a part interest only and part capital & interest repayment basis. It has been running for 8 years. I am all too aware of the fact that at the end of the mortgage term the interest-only portion of the mortgage…
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Switching Buy to Let and Residential - switching houses?
Hi, Firstly 'hello' as this is my first post and thank you for all the interesting posts I've already read on the forums. Here's our situation: We live in a house which has a residential mortgage, but once we got married decided we'd like to move. We'd only just finished the build of the house, so didn't think we could…
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Fixed or Variable?? Help!
Hi there I wonder if anyone has some advice. I am currently on a fixed rate (5.75%) mortgage, due to end at the end of December. My bank has more or less advised me to go on the variable rate as this is due to drop on the 6th Dec to 4%, which will mean I will pay over £100 less per month in installments. They won't really…
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Can anyone tell me where to start??
A friend has come to us for help after having got herself and partner in a complete mess financially. Yesterday we 'purchased' from them a motor bike (that we don't want!) to enable them to pay a £5k lump sum off their mortgage arrears and avoid eviction this morning at 10.30. The eviction notice was lifted yesterday on…
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Can anyone give me a bit of advice?
I find it a bit difficult to get my head around financial things so would really appreciate some help from the smart peole on here!! I have a mortgage with Scottish Widows for £160,000. I have had it for almost 3 years, 30 year term and am paying interest only on their standard variable rate. This will be dropping to 4.99%…
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Can i renegotiate my ERC with abbey?
I wonder if anyone can help, im locked into another 3 ½ years of a 5 year, £150,000 mortgage with abbey. If I leave before the remaining 3 ½ years I get charged an early payment fee of £6322.70. Currently my mortgage stands at £148,305 ( not including the £6322.70 exit penalty). The mortgage amount each month is £844,…
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Are people overpaying still?
With all the interest rate falls recently and still to kick in with many, how many people will be keeping their payments the same level and making the most of this and overpaying etc?? With worsening savings rates now, does it probably makes more sense than ever, especially if you have the facility to get at these…
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FTB - Is it worth me trying to get a morgage at the moment
Hi all, I'm a FTB. I have saved up just over £40,000 (+£3K for legal fees etc). However I only want to use £20K for my deposit. The other 20K I want to use for morgage repayments. That way I always know I can pay at least 2 years worth of morgage payments. My accounts are done by an accountant. Does this mean I don't need…
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What would you do?
Hi All. I am after a bit of advice or more of a "What would you do"? I have a Northern Rock Mortgage that was fixed at 4.99% for 2 years in December 2006, so it is due for renewal. In July we were contacted by our Mortgage adviser to say we should start looking. At the time there were plenty of products about but because…
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SVR or stay in fixed?
Hi, Can anyone help me! I currently have a fixed rate deal for 6.4% on an interest only mortgage my payments are over £1100 per month, I live on my own and I struggle to meet these each month (my previous payment was only about £850 pcm which I could comfortably manage) I have only just tied myself into this deal and now I…
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HSBC BOE+0.99 tracker mortgage offer query
Hi guys, I applied the HSBC BOE+0.99 tracker mortgage on the phone last Friday. The offer document came today which shows this offer is valid until 21 December 2008. But when I applied it on the phone, the staff stressed me to sign the document & return it as soon as possible as they cannot guarantee it always be there…
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Any mortgage brokers online
Just a quicky... This is going in the tip.. ______________ Fixed mortgage? Ditch & switch to a low rate deal After a political kick, most mortgage lenders' variable rates have followed the UK 1.5% interest rate CUT, leaving some on tracker or discounted deals paying historic lows. Pundits predict more rate cuts, though…
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Kent Reliance Deal??
Hi all, Been offered a fixed low rate of 3.9% for 2 or 3 years on my variable rate mortgage,(Currently 7.4%) Should I go for it,or will rates go down lower?? What do you think guys!!
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help financing advice.... seen house i want
I am looking at a property at present which i can get for £210,000 its an executory. The house i am in is mortgage free and is worth £180,000, in todays market what is my best option to finance this???, i would rather stay in my own home until the new one is habitable then sell it on if possible , dont really fancy renting…
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Is a tracker at +0.64 a good deal at the moment?
This was an offer I got before Nationwide started pulling all the trackers and I have been told today as I have it in writing, if I sign and send it off today they will still honour it. The mortgage is only for 10K. At the moment it is on the base rate and the monthly payment is dropped to £69 from December. Does anyone…
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Mortgage holiday or extend term due to sickness????
Hello We are a young family with 3 children. I am 35 and we both work. In August I was diagnosed with pneumonia and have been off for 13 weeks with it. I Have also unfortunately been in hospital for 2 weeks on IV drugs and fingers crossed I am now on the mend. Thing is I have been on nil pay now since Nov 14th. We have…
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Mortgage Deeds
We are in the fortunate position of being able to pay-off our mortgage in the next few days. I understand historically it has been advised that in such circumstances it is wise to leave the account open by leaving a £1 balance therefore ensuring that your mortgage providor retains your property deeds for safe keeping. I…
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Parents on mortgage ?
Hi Dont know if this is a silly question or not but was wondering, is it possible to have a joint mortgage with my parents. Thanks Steve
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Advice please - save in ISA or pay some off mortgage?
Myself and my husband would like some advice please. We currently have a mortgage for £250,000, which is an interest only mortgage. We have a couple of endowment policies which were supposed to mature to about £30,000 each. We both have cash ISA's which we have been topping up to the full amount each year, both now have…
