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Tax implication of buying home and renting out another
Hi, I'd appreciate any advice/guidance. I currently own a small property outright with no morgage on it. Several months ago I put it up forsale and like the majority of other houses on the market it hasn't sold. I need to buy a family home so am considering letting out the property I own and buying a house with a morgage…
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Mortgage arrears and resolution
I hope someone or more than one can help me with this idea I have to get me out of my current situation we have a very large mortgage and are paying £2k pm int-only on a fixed rate which was set 12m ago so is of course very high compared with the rates now we are just under 3m in arrears but cant seem to clear arrears and…
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Halifax overpayments.
I have a mortgage with Halifax, as well as a current account, and it's all online. I tried to make online overpayments from the current account to the mortgage but couldn't. I spoke to their helpline and they told that it was not possible, but that I could use telephone banking to do it. I've done that twice in the last…
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Fixed Rate mistake - what to do?
My mortgage is with Standard Life. I have two accounts, one for £24,000 (Repayment) and another for £36,000 (interest only) and an Endowment to cover the latter. Early last year as part of a review of my expenses I moved both mortgages to fixed rate - 6.5% until 2013 (I know, I know!). Obviously I am paying over the odds…
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A dont know whats best kinda question
hi can anyone advise me on my 2 year fixed mortgage runs out on 1st JAN 09 it is an interst only morgage with the Halifax. My options are anothe 2 year fixed at 4.69 but with a arrangment fee of £1,249 or I can do nothing and go onto variable which is 4.75 does anyone think that the rates will drop further. I am a single…
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told fixed rate offer was mistake - advice please
Hi all, my current 2 year fixed rate deal with Halifax @ 4.79% ends on 31/12/08. my LTV is 87% I have been approved for a 5yr fixed rate deal with HSBC @ 6.27% and have paid my £599 admin fee. Halifax have offered me a new 2 year fixed rate deal @ 4.69%, admin fee being £1200. So I phoned HSBC to see if they could lower…
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Open Market Home Buy Scheme?
Just wondering if anyone has any experience/knowledge about this Government Initiative? As a key worker, I understand my hubby and I are entitled to some assistance and I think we might be able to get a loan to act as a deposit, which is paid back on a certain arrangement. But the website that I have looked at for our area…
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mortgage arrears
I am unfortunately in arrears with my Capstone mortgage. Whilst I am in arrears they are charging me an extra £50 per month. I cannot afford to pay more than £50 extra each month so my debts are rapidly increasing. I would be grateful for any advice, Thankyou.
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Mortgages and deeds confused!
Hi folks Hoping that someone can clarify this for me, I own a house jointly with my ex partner we split over a year ago and have been trying to sort things amicably. I have been sent a transfer of deeds document but Abbey National want me to remain on the mortgage does this mean that if I sign the deeds over to my ex I…
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Can I get an endowment opinion
I have a Standard Life endowment that is due to pay out Feb 2015. I've thought long and hard about cashing in, but have decided to treat it as a savings vehicle whilst overpaying the mortgage. My question is - Over the last few months SL have been increasing the balance on the endowment by approx. twice the amount I pay…
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main residence question
here is a question for you, we are moving out to oz in june next year , renting the house out and need to remortgage our house in the uk before we go. I want to keep on a residential mortgage and benefit from the lower rates of course. My brother lives abroad and has managed to be lucky and acheieve this for the past 4…
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Buy-to-let mortgages and tax
I hope this is a relatively simple question... I'll use a simple example: I buy a house for £160k with a £40k deposit on a 5% fixed rate mortgage. I rent it out at £1,100/month for 5 years. At the end of the 5 years I sell it for £190k. 1.) Do I only pay Income Tax each year on the rent I receive (£13,200) minus interest…
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10 Year Fixed Rate 4.99% & Overpay Good Idea?
I am looking for a new deal, currently with C&G and they have a 10 Year fixed @ 4.99% i am tempted as i intend to over pay the mortgage I am looking to take out 100K over 20 years, which give me a repayment of £659pm, but i am planning to overpay @ £1000pm (i have been paying this amount for the last couple of years) the…
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Tracker rates seem all over the place?
I'm about to remortgage and had been offered a tracker with the Woolwich at 1.99% above base. Fortunately I shopped around and found a 1.49% offset tracker from First Direct. Feeling all smug that I'd shaved half a percent off the rate, I looked on the forum here only to see that some people have rates as low as +1% or…
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Mortgage Offer
I got a mortgage offer from Bristol & West nearly six months ago, and recently had my offer accepted on a property. I paid for the valuation and it has been done. Now B&W are telling me that I have to take one of their other mortgage products as they don't do the one I have anymore (mine is a 5% deposit). The thing is, the…
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Trying to keep my great deal from the Co-Op...
Hi, I’m a recent subscriber and first time poster. I just wanted some advice on my mortgage quandary as my fixed rate (4.9% on £181.5k) ends in February. Spotting that things were going to get worse before they get better I managed to get an early offer in principle from the Co-op bank for a tracker at 0.99% over base with…
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Overpayments by internet banking - NR
Hi - Can anyone help me make an overpayment to Northern Rock by internet banking please? I've just worked out how to log into the Northern Rock site and check how much I owe, and I want to make some overpayments by internet banking. Does anyone have the details to hand? And how do I make sure it goes into my account?…
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UCB mortgages 0.1% rate cut
Hi All If you have a mortgage with UCB part of NATIONWIDE, you will find that they are not passing the full 1 rate cut on a variable rate mortgage. They are dropping the rate by just 0.1% which is a bloody disgrace, i have written to my MP and send a fax to the PM. Their reply when asked why they have not dropped the rate…
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gordon brown
cant find answer when does gordon browns mortgage relief (3rd december statement i think)come into force and in what conditions?
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Tracker to fixed (not your usual comparison)
Hi, I've posted previously on here about our remortgage to First Direct. We originally secured a 10 year deal at 6.19% back in July (at the peak before rates began to fall again) but then switched to their fee free life time tracker of +0.79% before the remortgage went through in November. Obviously we're pleased at that…
