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New jobs and self cert mortgages
My husband and I are currently looking to buy a a house, the problem is that he has been in his job for only 7 months he earns 27k and the house we want is 180k we are going to put in a lower offer though. I could also include my income but I am self employed (since april) and have earnt around 12k since april. have we got…
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Egg Mortgage - letters sent to old address
Hi Just wondered what money savers thought about a little problem that I have just discovered with my mortgage company, Egg Had a Variable Rate Egg Mortgage since 2000, overpayed £100 per month and was was quite happy with them. When the interest rates started to drop we decided to overpay more per month so contacted the…
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Should I Take the hit on ERC for better deal?
Hi all, First post so bear with me. Just looking for an opinion. I have a Natwest mortgage on a 5yr fixed at 6.45% ovr 35yrs I am into this mortgage by 13months ERC is charged at 5% 1styr,4% 2ndyr.......and subsequently till end of 5yr fixed term. Since the "Credit Crunch' the fixed rate deals have changed They now offer…
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Help - Working out an equivalent rate from 2 seperate products
Morning all, I found out yesterday that part of our mortgage is dropping to +0.99 above BOE base come March (thanks to MSE for prompting me to ring and check), and the other part is dropping to the lenders SVR come May. This appears to be beyond any shadow of doubt better than any deal i can get at the moment. My questions…
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Possible BOE discussion
Hi, I'm new to the forum but do read regulary and it is a great place for info. I thought I'd ask your opinion and would like to speak in laymans terms (although I appreciate the subject is very much more complex than I see it). If the interest rate is so low, so people are not getting as much interest on their savings,…
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Payment holiday shows as missed payment?
I have been remortgaging my house over the past month and I wanted to know if this is common practice: on one of the lender's criteria they say you can, in certain circumstances (maternity, sick leave) take a payment holiday. I know that's pretty common, but when pressed, the advisor on the phone admitted that it would…
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Quick question on mortgage with Mortgage Express
Hi all, I've got a BTL mortage with Mortgage Express, currently on a fixed rate of 5.35% that runs out in June. I've just dug out the original paperwork to see what the rate will be when the fixed rate ends and this is what it says... Interest rate type and interest A fixed rate of 5.35% until 30/06/2009 A variable rate…
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ISA to Offset mortgage?
Hi I have about 5k in an ISA now earning 1.5%. Is it worth transferring it to my First Direct Offset mortgage and offsetting it as it seems like it will earn more for me there. Thanks
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Lenders taking advantage on SVR ?
The press is saying that not many people are on SVR, so the fact that some lenders are dropping SVR does not effect that many. However as each day comes more people are coming to the end of tracker and fixed products , and tharefore onto SVR - which many are now 3 times that of the BoE base rate. People are finding that…
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A&L Plus Mortage, Fixed Term End, Negative Equity, What to Do!!
I currently have a 2yr fixed rate interest only mortgage 7.080%, the fixed period is coming to an end, and i would like some advice on what to do. The mortgage was a 'PlusMortgage' taken out with Alliance & Leicester, the property was bought for £112,500. The mortgage was for 95% of purchase price £106,875 and an…
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Getting a mortgage when on contract work
Hello, I was wondering if anybody knew if it's still possible to get a mortgage if you are on contract work? I am six months into a three year contract and wondered if there is a minimum length of time left on your employment that lenders will generally consider your income when applying for a mortgage? Grateful for any…
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SVR - Please help
Please help. I took out a mortgage with GMAC back in 2007 and a few months after I took out the mortgage it was sold onto MAS NO5. Now that I have reverted to a SVR and MAS NO 5 are charging me 4.99% interest which is now 3.49% above the bank of England base rate and they have no intention of brining it down. If my…
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Locked into Fixed Rate Mortgage
HELP! I had to renew my mortgage in August 08 and kept with my current lender - the best fixed rate I could get (3 years) was 5.89%. However, with the reduction in base rate since August I could now expect to get 3.5% - 4%. Having spoken with my lender they advise that I am locked in at the 5.89% rate for the 3 year term…
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skipton coller in force or not ?
Now this isnt a moan just interested in other skipton morgage holders everything i reads says skiptons coller is 3% but on my product a caped rate tracker for 5 years my rate has droped to 2.49% (tracks at boe +.49%)very happy with this as you can guesse on the other hand i have the fixed rate cap at 6.1% so allways know…
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Is it worth paying the redemption?
Hi all 60% of my mortgage is currently tied in at 5.68% until 2018, with a redemption fee of £3450 to get out of it. About 3% of it is at 5.88% until 2018, another sizeable chunk has until 30/04/09 until it's off the fixed rate (4.54%, and will cost me £2000 to get out of now) and the remaining portion is on SVR. I'm not…
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Loser by fixing mortgage 9 months ago
I fixed my mortgage for 5 years in May 08, which at the time the % was v.good. Friends are paying £200 less on their same value loans now and I can't move because of the buy out and pay back time. Any suggestions welcome?
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First time buyer...how much to spend?
Hi all...I'd be very grateful for some pointers as to how much I should borrow for my first mortgage. I am currently looking to buy my first place in the next 12-24 months in London (obviously I will only buy if I can negotiate a massive discount to protect against potential future falls - I will be a hard nosed…
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Remortgaging for extension
Hello, Having thought about an extension for three years, we think we are almost in a position to do it. Very kind relative is giving us £40,000 - my question is: would it be better to use this to reduce our fixed rate deal (fixed till Jan 2011), then remortgage with someone else. Or, would it be better to remortgage,…
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Please Help Ftb
I am most of the way through buying my first house but am now very confused about what to do about a mortgage and need good advice so please, please of you can, help! I am almost in tears as I am writing as I am so confused. Nationwide have offered me a mortgage, 3 years fixed at 6.68% with a £299 fee. When the interest…
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Doe my motgage lender have to pass on the interest rate cut?
Can anyone enlighten me? I have a tracker mortgage, with as far as I can tell no collar. Does my lender have to pass on all the interest rate reductions? I believe I have a "signed contract" to that effect.
