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Pension credits - Interest Payments
Hi all, this question may be a little vague but my information has come second hand. My Dad has recently been made redundant and has been told that he will receive pension credits - he is 62 years old. He still has three years left on his repayment mortgage and has been advised that his pension credits will cover the…
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Interest Rate Cuts
Does anyone know if Chelsea Building Society plan to cut the SVR rate from 5.79%. The bank of England rate has fallen a further 1.5% since the last cut they made in December.
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Nationwide have made a really nice mistake
Hello Our mortgage provider recently merged with the Nationwide and I think in the change over they've mixed up the terms for our deals. Our mortgage is split into a fixed rate mortgage at 6.09% which should have finished in August 2013 for about £103350 and a tracker at 2.50% finishing in a year for £31000. But in a…
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Abbey want to see stements
Hi I am a FTB in the process of buying a house and am getting a mortgage with Abbey, everything has been going ok i got my mortgage in principle. But today they asked to see 3 months of bank statements to see how i conduct my account, shoul i be worried about this, i am nervouse about the whole lot as i was buying another…
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over 50s mortgage to help kids
We would like to help out our 3 kids with lump sums at some stage, but none are near a position of being able to get on the housing market and meanwhile our savings stagnate. Idea is to buy a 2-bed flat now, son and pal live in it and pay rent to cover mortgage, with some left over. We pay off mortgage with lump sums up to…
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First Direct - 14 weeks to arrange mortgage?
I've begun an application with First Direct for a mortgage - Offset Base Rate Tracker. Being slow off the mark, this will be at +1.89% of the BoE rate, but still a decent deal for the next wee while... Anyway, the FD advisor I spoke to quoted the duration of the mortgage process from initial application to moving in as…
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Endownment Shortfall
HI My mum and dad have a 29k shortfall on thier endownment, a couple of years ago they completed the compensation process and recieved 3.5k this does not seem right when they now are at the end of thier mortgage with a 29k shortfall. Is there anything else they can do?
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Mortgage Protection advice
I rang my bank about renewing my mortgage protection at the end of November. When I got the details it stated the policy/payments would begin from 01/01/2009. I originally had mortgage protection which ran out in October so they just took all the details from that. I have looked at the terms and conditions and it says…
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Endowment Bonuses.
Hi,I recently applied to surrender my endowment policies to find that the co-op who they are with have taken away my bonuses for the year,these were taken off in october with no notice or correspondence telling me they were doing this.My question is can they do this. Would appreciate any information please.
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Buying ex out of the house? Options?
Hi I'm in a difficult situation and I'd be grateful for any wise advice. My ex-wife and I separated in October 07, and she moved out of the family home with the children into a rented house. We put the family home on the market, and the idea was to quickly sell it, split the proceeds, and move on. We'd amicably sorted out…
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Britannia Standard Variable Mortgage
What does everyone think of this Britannia Deal. Sounds too god to be true!! Standard Variable at 4.74% No Fees No Early Repayment Fee No set period, i.e i can change anytime Looks too good compared to the rest of the market Im a FTB, buying for £137,000 and putting down 10%
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Getting a second mortgage
In todays climate what are the chances of lenders being willing to give a second mortgage and at what rate is it likely to be, meaning do they up the rate for the pleasure. Currently have a mortgage only in my name for about 55k and property worth about 160k - 180k depending on how prices are going. Looking to move into a…
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Help needed part selling house
Can anyone help , my wife and i are thinking of selling part of our property to a housing association would you reccomend this. We were thinking of selling half and renting it back to reduce our costs , is this wise ? will we save much ? Can we buy it back again ? Thanks for your help
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First Time Buyer - A Few Questions!
Hi all, I know it's Monday morning so our brains might not quite be in gear yet, but I'm a first time buyer (but long-time reader of the MSE newsletter!) and wanted to ask more knowledgeable folk about mortgages, and buying in general. My basic situation - I'm a uni grad who's been living at home for the last 2 and half…
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Bradford and Bingley letting us go early without penalty. Lost about what to do now.
Got a letter from B&B on Friday with our annual statement. Basically from 1st Feb till end June B&B will not enforce the penalty for leaving early on our fixed rate which runs out in September. Trouble is we now have very little clue about what to do with this, on the face of it good news! We are fixed at 5.95% on with a…
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Existing Offset mortgage - advice please
Hi all I wonder if anyone can offer advice as to our offset mortgage which was with the Woolwich (now Barclays) about 10-11 yrs ago. It was initially set up as at the time we were (& are) small business owners who had a lot of income so it was thought we could put money in there & offset it. Well, it didn't happen like…
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confused by the 10 oclock news tonight.
while watching the 10pm news tonite,they were doing a report on the new bank bail out the goverment is proposing,one thing they said got me rather confused,they said the Northern Rock would start lending again,i didn't think they had stopped! i knew they had stopped giving new mortgage deals to existing customers,but not…
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SVR Overpayment query
I have a query after reading post #5 on this thread: http://forums.moneysavingexpert.com/showthread.html?t=1425329 I thought it best to start a new thread as opposed to hijacking the other persons thread. Is there no overpayment limit when you are on the SVR? I am interested to know if this is the case as I will be going…
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help please re:rooftop
Help please i have just realised that my my 2yr fixed with rooftop is coming to an end on the 5th feb , on the documents it says i will move over to the svr which will be 8.6% . im currently paying 941.00 a mnth at 6.5% this is on a 131.000 . will it go down or will it go up ? I also understand that rooftop are now closed…
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Mortgage Advice
Myself and my partner are looking to buy a property for around the 75k mark in a few months. By then, we would have saved up about 15-20% deposit. (Hopefully around 15K) so we would need a mortgage for around 60. I'm 20 and earn £16250. My partner is 23 earns £15375, but his credit history is not so good. He has had a few…
