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My Endownment (10 years in) please help me!
Hi, I have an endowment policy with Barclays called a 'Life Managed Fund'. I am just over 10 years into the 25 year term and I pay £95.40/month with a view to obtaining a lump sum of £50,400.00 in 2024. I obtained a valuation on the 4th January 2008 and the fund was worth £10,467.54. 12 months later and £1,144.80 worth of…
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Reducing the term (Nationwide)
We have a mortgage with Nationwide, approx 140,000 outstanding on a house bought for 200,000 in November 2007. We're just over a year into a 3 year fixed deal at 5.98%. This allows overpayments of £500 per month, which we've made every month since the start of the deal. We'd like to overpay more, but $500 is the limit per…
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Flat conversion leases and buy to let
Hi, I recently converted my house into two flats. I now have 2 buy to let mortgages ready to go but have to grant 2 leases. My solicitor needs permission from my existing mortgage company to do this though. Anyone had any experience with doing this? Are they (HSBC) likely to say yes. I have about 68% LTV now that the…
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Deposits?
hi, I bought my house 2 years ago for £100,000. I want to buy a house for £150,000. My house is for sale for £105,000. As I would have to pay an early repayment charge, I want to keep the first mortgage and take out the extra £50,000. Would I need a deposit of, say, 10% of the full price of the new house (£15,000) or the…
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Mortgages when you have been bankrupt
Hi Does anyone have any advice on what the likelihood is and where to look for a mortgage if someone has been bankrupt? I have recently become BR. Not that i plan on getting a mortgage just yet, but one day in the future this is the only debt i would ever consider getting into. I have learnt my lesson with credit cards…
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Mortgage advice please
Good afternoon everyone, Me and my partner went to her bank (Halifax) last week to start the ball rolling with a mortgage for a house we have seen we like, After assessing our income and doing a credit check we were given a mortgage in principle so we signed for the house, After doing a little reading on this message board…
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Mortgage advice needed please
Hi I could really do with an opinion from anyone with experience. My wife & I re-located last August and are renting a 4 bed detached house at a cost of £1,295 PCM. In light of dropping interest rates this is looking incredibly poor value for money for a property whose market value is c£300K. We would obviously prefer to…
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Woolwich tracker
This has probably been mentioned before, but being naive i expected the bank to automatically reduce my payments, i called the woolwich today and found out that, even though i am on a tracker, i needed to call them to have my mortgage payments reduced, result payment reduced from over 900 a month to just over 650 a month.…
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What the best mortgage to take at the mo
Hello, I have just come to the end of a 2 year fixed term with Northern Rock. They will not continue the mortgage with us. However we can continue paying the standard rate wich is around 5.4 %. Our mortgage has dropped by £40 per month on the standard rate. However we would liek to save more money would it be better going…
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Re: AGHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Hi there. My partner is taking out a mortgage on a house and due to a shambolic credit history (which is in current repair/past bankrupt a long time ago) we have decided it's best for him to take out the mortgage (also he has a deposit & I don't) and for me to take out a loan for a deposit of £10,000 and put it towards the…
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Help On How To Lower Morgage Payments
Hi We Have Started To Struggle With Payments.i Have Phoned The Bank And They Went Very Helpfull .they Said They Would Phone Me Back But This Ws A Week Ago Now.i Have Phoned Back Several Times To Be Told Only A Certain Person Can Help And She Will Phone Me Back.we Just Want To Go Onto An Interest Only Maby Or Come Off The…
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Interest-only Mortgage ... increasing balance?
Hi I have got a 35 year interest-only mortgage with A&L. Following are the details: Amount £250,000 Fees Added: £999 Monthly Payment: £1222.26 I have received my yearly mortgage statement and it now says my outstanding amount is £251,068.42, after two years. Looks like its going up every year by around £30. I called A&L…
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Should I do this and pay off the mortage?
Hi! Can someone please help as I am confused. Would I be better of to pay off the mortgage as when I am doing the calculations I am not better off. Our outstanding mortgage is £53000, I am on repayment mortgage which has 11 years left but for next 7 years I am on fixed interest of 4.67%. Our current savings is £25000…
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have i got the right mortgage? pls help a newbie!
helloo! im a moneysavingvirgin..so please be extra kind to me and look after me for a while til I find my way around.. Now I know this has been talked about before..but Im thick and I just don't really understand it:confused: so talk to me in apples and oranges please! We have an offset mortgage with First Direct,…
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Mortgage cover horror story: Please read.
Sorry in advance to the modds if this is in the wrong thread and has to be moved:o In early 2006 me and my BH remortgaged through a local broker. I was working full time and my husband was self employed which caused a few hold ups with offers due to proving income. It took around 6 months to remortgage in the end and by…
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Northern Rock Together Mortgage
Hi I am a new member and would like some advice or info on other peoples experience with Northern Rock. 3 & 1/2 yrs ago me an my fiance took a NR Together mortgage and thought we had a fantastic deal at 5.9% + 25% extra borrowing. I now owe around 25k over what my property is worth, and with the slump and mortgage deals…
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Buy to let on inherited house
A colleague has inherited a house jointly with her sister. The sister wants to sell and my colleague wants to keep it and rent it out for a while, with the hope the house prices five years from now should be improving a little. She wants to borrow 60% of the house value (50% to pay the sister and 10% for some improvements…
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Buying bankrupt ex partners mortgage share
Hi All, Id really like some advice on a situation thats just arisen. Its quite complicated, but Ill try and give you all the abridged version. I bought my current property in August 2004 with my then Fiancee, however, shortly after buying it (Around 6-8 months), our relationship ended and she moved out leaving me to…
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Best rate been approved lately
Whats the best rate someone actually got recently? Not advertised rates that when you try for it they say no but twe have this one you can have it looks good to start with (but then the rates go through the roof). Whats the best rate you can actually get approved these days with a average wage and reasonable deposite?
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How soon can you look at switching your fixed rate before it ends?
I have a 2 year fixed rate mortgage which finishes the end of March 2010. I don't want to finish the fixed rate term I am currently on till it ends the end of March as I have quite a low rate at present but if I was to see a really low rate in Nov/Dec this yearand want to act on it so I don't miss it, can I arrange it that…
