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Northern Rock mortgage
Any bright ideas as to what we do now? - We took out a self certificated interest only mortgage with Northern Rock and come to the end of our current deal at the beginning of March this year. Although we had £20,000+ to put down as a deposit we still had to take out a mortgage of £156,000 to get a fairly basic house in our…
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mortgage advice needed please
Hi there We have a lifetime tracker with the woolwich of 0.18% above BofE base rate so our mortgage payments now stand at £77 per month We have an interest only mortgage with an endowment that was meant to cover the first £33000, which it obviously wont. since we took the endowment we borrowed another £23000 to move house…
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Pensions - endowments for dummies
We are all aware of the poor performance of endowment policies over recent years. I think pensions are just as bad. With poor performance of most investments - savings earning around 1.5% there is one thing that remains strong. The management fee on most pensions is 1%. It would be 1% if interest rates were 10% and it will…
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First Direct Mortgage Application - How long did it take?
Hello all, We started the process of taking out a new mortgage with FD, currently with A&L, about 2 weeks ago. So far our new bank account has been set up and our mortgage offer has been agreed, subject to survey. How long did it take for your survey to be done after you heard that your mortgage had been agreed? And once…
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SVR or new fixed at 90% LTV?
Hi, I originally posted this on the House Prices, the Economy & Recession forum and someone suggested I post it here instead. I got a mortgage 2 years ago with Alliance and Leicester and am coming to the end of the fixed period. Thanks to falling house prices my current LTV is over 90% (at the start of the term it was…
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Standard Life Endowments- more cuts announced
Surpirse, surprise. From The Scotsman (link) Anybody still recommending keeping endowment policies? GG
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Remortgaging an existing buy to let mortgaged property
Hello I have a existing BTL property that I have just remortgaged to a different building society without increasing the loan. I would like to know as a landlord what costs I can claim back against tax from the list below. New mortgage building society valuation survey fee Mileage to meet surveyor for valuation survey…
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Nationwide Mortgage
I have my mortgage with Nationwide in two parts. Both have come off a 5 year fixed rate at the end of December and are now on trackers at 2.88% (BR+0.88%). The original part of the mortgage is, according to my statement, on the Budget Plan Scheme. Apparantely payments are only changed in February each year. I had forgotten…
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Is it worth paying a little bit more on my mortgage?
Hi as I have a tracker mortgage, the monthly payments have come down about £75 over the last 6 months. My question is, is it worth paying the amount I was paying, to nibble away at my mortgage (mortgage is only around £35000 with just over 10 years to go) or will it make so little difference that I may as well spend it and…
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Is it worth payying a little bit more on my mortgage?
Hi as I have a tracker mortgage, the monthly payments have come down about £75 over the last 6 months. My question is, is it worth paying the amount I was paying, to nibble away at my mortgage (mortgage is only around £35000 with just over 10 years to go) or will it make so little difference that I may as well spend it and…
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First Directory - should we take it with the mortgage?
Hi We are about to start our FD mortgage on Monday (fingers crossed anyway!) I was speaking to them yesterday and was told that if we signed up to First Directory we would get £100 cashback - has anyone else had this offer and taken them up on it - is it worth it? Thanks
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Helping Mother in Law with Mortgage Payments Advice Please
My mother in law is recently divorced, the house has gone up for sale at £120000 6 months ago, but as yet there has been no interest whatsoever. There is £47000 outstanding on the mortgage at the moment and my mother in law desperately wants to stay in the home. She is on a low income and needs to get a mortgage for the…
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Advice please on Remortgaging
Hi, I'm after some advice on a remortgage, being an absolute novice in this area. I'm looking to re-mortgage to free up £25k to pay for an extension. I have a house valued at around £190k and a current mortgage of £109k. My current mortage ends in September and my current lender will lend the money but as a seperate…
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Relationship break up - what to do about our mortgage
Hi Savers, Another post about a relationship break up. Did search the site, but each case is different I guess. Situation: Been with OH for 7 years, not married, no kids, bought a flat in Edinburgh at the start of summer 2005. Still living together and amicable, but we've decided our futures are going in different…
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some reasurance please, re: court order.
ok so i have a court order on my mortgage for falling into arrears,i gotta new job and all is going splendid until a mix up over holiday pay at work :o i was told i have a whole week to take off and when i returned the next week i found i didnt have any days left to take so i will not recieve any holiday pay and i am now…
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Bank write to tell me that my Mortgage is going down, but increase it!
Obviously with Interest rates coming down, that has been reflected in monthly mortgage repayments. In December 2008, my Building Society wrote to me and said "The rate of interest applicable to your account will decrease to 5.34% per annum from 1st Jan 09 and your revised monthly payment will be £253.93 from Jan 1 2009"…
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Sobering article about endowments
Just stumbled across this article about endowments on the BBC website. http://news.bbc.co.uk/1/hi/business/7823849.stm This in particular made me raise my eyebrows! :eek: "Interestingly"! I maintain that the best financial decision I made was getting shot of my endowment policy in Jan last year - talk about dodging a…
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Remortgage thoughts - BTL
I have been lurking on the forums for a while now, trying to pick up wisdom, but have finally decided to take the plunge and ask for myself. In 2003 I purchased a 1 bed flat to live in on the outskirts of London. At the time I paid £95K, of which £15K was deposit and the rest was a mortgage (30 years). Using my savings I…
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Lock in or Beg?
On a cracking Tracker Mortgage - my payment has dropped £800 to £300 since we took mortgage out which is fantastc. Deal ends Sept 09 - wondered whether we negotiate with Alliance & Leicester now - to lock in to a fixed rate now. At moment it gives us some months to negotiate with but as the house price drop has reduced…
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Any endowment advice out there???
I have an underperforming endowment mortgage for £50,000 with the Alliance and Leicester at 3.54%. £40,000 of this started in October 1988 and matures in October 2013, costing £130.63 per month. A low cost endowment policy provided by the Police mutual assurance was taken out at the same time to cover the funds and costs…
