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Negative Equity caused by early repayment penalty. HELP!
Hi, I am desperate for some advice here. Please please someone help! We have a property that has been on the market since August. We also have a £21,000 (yes, £21,000!) repayment penalty on it until September 2009. Due to work, we have already moved out of the house and relocated. When we first put the property on the…
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Can I have 2 mortgages??
I am abit confused and my man at Barclays will think I'm stalking him if I keep hounding him... so I'm asking for help here... I have a £77k 5yr fixed (@5.49%) ending in March with Barclays/Woolwich and a £45k Lifetime Tracker (@ 0.89% above base) again with Barclays/Woolwich. I am considering waiting on the SVR with the…
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Annual Review Mortgage
I seek advice on the following. I am currently on an "annual review mortgage" with a 5.79% rate fixed for the rest of this year. I will save about £70 per month compared to last year's fixed interest rate. Can I ask the Chelsea Building Society to allow me to "come off" this fixed annual review rate - now - and go for the…
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Best home for overpayment - advice please!
Hello Can anyone offer me some advice please? I have a 3 part mortgage with Chelsea as follows; 1) Interest only approx 34.5k at BoE +1% 2) Repayment approx 79.5k at SVR currently 5.79% 3) Repayment approx 4.3k at BoE +1% Complicated I know but part 3 is where I converted some of the original approx 40k interest only…
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Endowment advice please
Hi there I'm trying to decide whether to surrender or hang on to my endowments but the more posts I read on here, the more tricky the decision seems to be. Any comments would be very gratefully received (particularly those of you with a crystal ball!) I have 2 endowment policies which are no longer linked to my mortgage…
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Halifax merger with Lloyds
I was just wondering if anybody has any kind of thoughts on how the Halifax may change with regards to dealing with its customers once this merger takes place in a week or so. Will it make it tougher to renew deals etc? What are Lloyds like in general to deal with?
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Offset/overpay or Save ? (First Direct vs. ICICI )!
Remortgaged to First Direct Offset tracker mortgage last week ( Base rate + 0.79 ). The mortgage amount it 120,000 (17 years) and we currently have savings of 50,000 earning now 3.50% (Gross) in ICICI. We are both basic rate taxpayers. Based on these figures : 1. Should I leave the savings in ICICI or use them to offset…
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First Time Buyer - First Direct Offset Tracker?
Hi, My wife and I are in the lucky position to be able to buy our first property and have about £55k to our name with no loans or balances on credit cards. We got the most of the £55k from my inhertiance from my grandfather. I still have another £50k to come to me sometime in the next year. I am looking at buying a…
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LVR & re-mortgaging - really worried
Went to see mortgage advisor at Nationwide today as our fixed rate ends at the end of Feb. She told me that our only option is to go onto the SVR as our LVR is too high for them to offer us any other product. I was so shocked - we bought our house for £253k 18 months ago and have a total mortgage of £190k, so at that point…
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What to do...
I currently own a 2 bed flat which I bought for 125k 2 1/2 years ago, currently mortgaged for 90k at 6.49% fixed for another 4years ish DOH! Anyway, I think we could get the same amount for the flat that we bought it at roughly, but there is a house down the road that needs complete refurb, but its only 150k Heres the Q...…
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Remortgage/loan off a home with no mortagage
Help! We are really confussed, weve just been left a property, which were are in the process of renervating and would like to take a loan or a mortagage out off the back of that property to buy another property which we also want to rent out. Whats the best way of going about this? How could we get the best deal? I really…
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Leeds Building Society Tracker Mortgage
Hi, I took out my first mortgage last year with Leeds b/society. It was a self cert tracker interest only mortgage with a 2 year fix of 0.5% above base rate. Last June the interest rate was 6% but now with all the subsequent bank of england cuts it's only 1.5%. We've read all the literature from the leeds and we can see…
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will i be able to get a mortgage?
Hi - i am wanting to know whether it is even worth my while looking for a house or not. My situation is as follows i am 20 years old and earn £20k a year. My partner earns only 2.5k a year until august when he will be going full time and on about £15k i have been in this job now for 9 months and before that i was part time…
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help re ex and mortgage
please can somebody point me in the right direction. I ave a joint mortgage with my ex. He hasnt contributed to the mortgage or household bills since 2004. I have paid for everything I am still paying the mortgage although have taken my name off the utilities as i am not living there. I have tried in vain to agree a buy…
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offset mortgages-what are they?
I know they are somehow linked to savings but thats it. Are they a good idea? Also if i was looking for a mortgage,where am i likely to get the best deal? A comparison site such as fool.co.uk or a mortgage broker and if broker,any recommendations? ta
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Phoenix Endowment Mortgage Plan decision
Please can anyone help me decide what to do with this endowment. Provider Phoenix Life Target amount - £36,000.00 Guaranteed sum assured - office not able to give one Declared bonuses - office not able to give one Surrender value - 14 Jan 2009 £18,005.00 Market Value Reduction - Yes but office not able to give one Start…
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Help Should I Come Off Our Mortgage
Hi I am presently on a joint mortgage with my partner. He wants to re-mortgage but because of my CCJ (Currently being paid off monthly) he wants to take me off the mortgage to get a better deal. The deal his broker has advised will have a fee of over £3000 and reduces mortgage by £47 per month. Currently we have come to…
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re-mortgage advice please -can anyone help? :o)
Hello I’m not very good with all things financial so just looking for a bit of mortgage advice please. Now I know no one has a crystal ball but I’m not sure what to do about my remortgage. I currently owe 80k to Firstactive and want to borrow a further 10k for home improvements. My current mortgage is 80k is on a variable…
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Break up Mortgage Help Urgently Needed
I am currently in urgent need of some help. My ex and I bought a house together for £105,000 in September 2006 I put a £10,000 deposit down and we took out a £95,000 mortgage together with each of us paying half towards paying off repayments and interest. We have recently spit up and are now stuck in a bad position. Each…
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Will I be able to re-mortgage with bad credit?
I am after some advice. I am currently on a SVR of 3.99% which I am more than happy with. However I am wondering if now is the time to try and tie myself into a long term deal and fix my mortgage payments for the next 5 years. I took a mortgage over 95k and I am hoping that my LTV will be below 95% as the house should be…
