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Overpay Mortgage, Secured Loan or Both - Advice appreciated!!!
Hi All The reduction in interest gives me a real opportunity to get stuck in to paying some of my debts off. Would really appreciate your advice on best possible solutions. Current financial position: Mortgage with One Account (Interest Ony) - 4.2% before any cuts passed on from today. Balance £142,000 - House value approx…
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Fixed rate ends soon and dont know what to do.. Help please.
Hi, I am hoping you can help. I have 2 mortgages one for 13500 and one for 98300 now this one comes to its renewal end of jan and the 13500 one the end of june, both are interest only, I now dont know what to do, do I wait till june and put them both together and have one monthly repayment on a fixed rate and fix it, if so…
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anyone know if HSBC are passing on the cut?
as the subject says...for tracker deals i mean.
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Stuck on 6.14% fixed rate until September
Hi all, I lost my job last August and am cringing at the fact I'm stuck paying about £60 more a month by being on a fixed rate... I've checked and it'll cost me over £1k to come off the fixed rate so I think all I can do really is wait out the last 8 months and leave it to switch to the variable rate (now 4.5% according to…
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Selling at a loss....
If I sold my current property at a loss, would the BS help me structure the short fall on the mortgage so that it is affordable? Looking at renting afterwards.
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Do you update your lender updated on personal details?
I was just wondering whether anybody updates there lender on their personal details, e.g. change of job, wages, new loans, etc? Is there any point?
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Mortgage novice help! Coming off fixed rate...
Hi, in 10 months i'll be coming off a 3 yr fixed rate with BOI mortgages. My mortgage is for 218k after my 10% deposit of 24k was taken off. I'm currently interest only at 5.5% and make small overpayments a month - i've in fact paid off another 6k. I'm sure when the fixed rate ends it goes up above 7% What is the best…
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First Direct Tracker rates change
My OH called first direct to get the ball rolling on a remortgage, her paperwork has arrived (I have not seen it or her today yet so that may shed light). I have seen the First Direct website has now changed its tracker from 1.49% above base rate to 1.89% I am fearing that as she was in the very early stages (ie phone…
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How can I pay my mortgage if I have to stay interest only!
We have a 90% mortgage with Northern Rock (but with current house prices are in neg equ). Anyway I had a baby in May and have a lot of debts. No lectures please, I know its my own fault. Anyway I changed to an interest only mortgage as I would not have been able to afford my bills on my mat pay otherwise. My fixed rate…
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Should I take this Job - How will it affect my Mortgage??
Hi Guys. Please can any of you help me make a difficult decision swiftly and sensibly. Status: I have a 5 year fixed ter mortgage that is 2 years old. It is in my name only, and repayments are around £400 capital repayment on a loan of about 81k whic is reasonable. My Girlfriend has recently moved in and we are very happy,…
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remortgaging
I have a fixed rate mortgage that I took out on my house when I bought it in September 2007. It ends September this year and I was looking at the deals on the internet seeing as the rate was so low. I bought it for 87500 but would like to get some extra borrrowing when switching if possible. I also need to move from…
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mortgage fixed rate...coming off it
hi we currently have a fixed rate mortgage of 5.09% which runs out in just over 3 years with c&g. our outstanding mortgage is around 116.000 the payments per month are 668 but we are paying 900 per month (overpaying).my question is this would it be worth our time paying whatever the penalty charge is to come off the fixed…
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Overpay on mortgage or continue to save into Cash ISA?
Hi With the savings rates on Cash ISAs being so low for the foreseeable future, I'm in a quandry about whether to put any money, or at least less than the maximum, into it this year and use the cash instead to overpay my mortgage. I am already overpaying on my mortgage but as i'm on a tracker deal (base rate plus 0.25%) my…
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LTV% of purchase price or valuation amount?
Sorry for the (stupid?) question but.. Let's say someone was to agree to purchase a house for (£A) roughly 20% less than the original asking price (£B), which let's assume was a fair price at the current time but which the buyer wouldn't pay due to the fear of further market drops. When the house was valued for the bank…
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are there still any offset mortgages on offer?
I was recently made redundant and have the £30k payout sitting in a saving acct with the Halifax right now. I also have a 70k mortgage with them too, and I remembered hearing about "offset" mortgages, where sacrfice the interest on the £30k, but only pay interest on the £40k (70k-30k) of my mortgage. I don't want to pay…
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Buy-to-Let or New Buyer?
I am looking to take a Mortgage and buy a second house. My dilemma is: I have an existing mortgage - a very good deal +1% base rate tracker. What will give me a better deal on my New Mortgage? Pay off the existing mortgage with my savings and then get a New Mortgage with lower deposit of course to put against the second…
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Advice on surrendering Standard Life endowment
Can anyone offer suggestions about whether it's worthwhile keeping my Standard Life with-profits endowment policy? Current surrender value: £8585.80 Monthly premium: £34.60 Maturity date: 18/10/2016 Current forecast of maturity value at 3.75% pa growth: £13,700 Plus Mortgage Endowment Promise on maturity, estimated (as at…
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Nationwide confirm full 0.5% cut
Had a look but didn't find this already mentioned! http://www.nationwide.co.uk/popup/rate_cut.htm?source=nationwide&campaign=homepage&execution=ratecut_lhs_08012009 Bank of England Base Rate decreased The Bank of England's Monetary Policy Committee announced a 0.50% decrease in the Base Rate to 1.50% on 8 January 2009. Our…
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Another Remortgage Question
Hi All, I'm hoping someone could please help me with a couple of questions. We are on a 2 year fixed rate of 6.34% with SPML/Capstone after being referred to them by A&L. This deal ends on 31 March 2009. Last month, OH enquired with London and Country about remortgaging. To our surprise, we were told that we qualified for…
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Extra Money - Help!
this isn't a problem which will generate a lot of sympathy, but here it goes... As a result of interest rate cuts we've got extra money which we would like to use in the most efficient way to reduce our mortgage debt. We currently have a part-and-part mortgage where £300,000 is on repayment and about 100K on interest only…
