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What is the Bank of England Base Rate?!?!
Can someone possibly explain to me what the BoE base rate actually is and how it affects me or anyone else for that matter.... Whenever they have dropped the rate, banks always go on about LIBOR is more important than BoE base rate and only LIBOR can make borrowing cheaper.... So what is the point of the BoE base rate?…
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Mortgages
Hi, am new to this site, but need some help/advice. Have just taken out a mortgage and was offered a fixed rate, which I took. I was kind of advised to but at the end of the day it was my decision-I suppose. Now rates are dropping I am losing out. Is there is any way I can switch over to perhaps a "tracker" mortgage and…
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Mortgage Problems this Year for us?
Hi all I wonder if anyone here has any advice for us, as I started thinking last night and it got me worrying. Sometime this year our current mortgage ends and will need to look elsewhere. We have been in the current house 5 years and had a mortgage 10 years, we have never missed a payment, and don’t find the mortgage a…
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Fixed Rate Mortgages
With the likelehood of a further reduction in interest rates imminent can anyone tell me why the Government is not also helping those who are on a Fixed rate mortgage. I appreciate that you commit to this when taking out a FR and their is of course always the chance interest rates can go down but in the current climate…
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interest only mortgage??
Hi All, Can anyone give me a bit of advice. I am with lloyds on a interest only based mortgage,i have £61000. remaining on my mortgage and currently paying £300.00 per month, i would like to change to a repayment to at least be paying off the mortgage, but am unsure where to go, or what to do. Any advice would be…
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Odd situation - would like some advice.
Hi I know that this situation is of my own making - so please don't be too critical. I brought a house in 2005 on a 100% mortgage. In 2007 I was relocated for work at very short notice and I decided to rent my house because it was quicker to arrange than a sale. By now I had some savings, not much but enough for a 5%…
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Mortgage and being on the pension current subprime 12%
Hi, I have a question regarding someone who is on a pension but is stuck with a subprime mortgage. The mortgage is for £50,000 but the rate is currently at 12%. I'm getting some help from the gov but they only cover a 4% rate at present, it varies with the interest rate...so I have to pay the other 8%. I was wondering if…
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Fixed Rate Coming to End
Hi, just after some advice. My 2 yr fixed deal with Nationwide at 5.08% is due to expire in Feb 09. I outstanding amount is approx £112,000 and current value of property has reduced to approx £115 - £120K. I have not received any correspondence yet from N/wide advising me of new terms etc. My current payments are £555 and…
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A & L fixed ending in Feb, suspect its SVR but confused
Been checking my paperwork as I notice some have said they go onto a tracker not the SVR. Now I suspect and am kind of sure this means am going onto SVR, but thought I would ask you guys.:think: What my mortgage offer reads under description of this mortgage - "Starting on and including the first day immediately after the…
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mortgage advise
My income around 10000 CTC/WTC 3000 child age 10 Maintance 8400 child age 10 Age 47 have to retire when 60 Value of home around 190000 Mortgage 63000 repayment Husband and I have seperated - Does anyone know if i would be able to get a mortgage taking CTC/WTC Maintance income into account. Husband might sign house over to…
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Standard Variable Rate mortgage
Currently I'm with Principality but my deal ends 31.1.09. Only have 18 months left before endowment matures so don't want to sign upto a 2 year deal. Principality SVR is 5.69%. Looked on a few banking sites and I don't seem to able to change to another lenders SVR. Am I looking in the wrong place. Only need a £25k…
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Mortgage enquiry for shared property
Hi all Hope someone will have knowledge to answer my queries. We are first time buyers purchasing 50% of the house. According to this independent agent we are dealing with, the best deal on mortgage we can get is 6.83% fixed for two years. Apparently not many mortgage providers offer loans when only purchasing shared…
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cashing in endowment, advice needed please.
We have got an old endowment due to mature in march 2011. Had compensation 4 years ago & although we had already changed to repayment anyway decided to leave in running as a savings plan. Stupid now on looking back but hindsight is a wonderful thing. Have phoned up today & here are the figures Surrender value £8830 Premium…
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if it says that mortgage is 0.10% below base
and then in June it will be 0.95% above base rate sounds like we are on the better deals aorund. this is with the woolwich and from the paperwork i cannot see anything liek there is for nationwide or abbey about capping the lowest rate they will go to. i just wanted to check that this is definitely going to be the case.…
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Remortgage
Hi peeps We're on a DMP and our 2 year fixed mortgage deal is up for renewal in May this year, as we're on a DMP will trying to get a new fixed rate deal effect us? We have no arrears with our priority bills, all debt is unsecured debts. It may be early to be asking the above question but I'm curious what if any our DMP…
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Bank of England Base Rate Reducing to 1%
Hi all, I was in RBS today opening an ISA for my Icesave cash and the rates are pretty dire but anyway......my bank attendant informed me that the BOE was reducing to 1% in Jan and that this was announced at the end of last year. I have been googling like crazy and can't find anything that says that. I see the rate is…
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Can anyone help?
Bristol & West plc Offer of Loan document (April 2005) states they follow the Banking Code. I accepted their Loan Offer. Now they state they do not follow the Banking Code. It would appear that a constituent part of the loan agreement has been changed. Does anyone have any opinions? Would like to hear from you. Kreed.
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95% Are there any??
Hi, Me and my girlfriend are on 21500 and 20500 respectively and both in secure jobs. We have enough deposit for a 5% on between 120k and 160k mortgage. Is there anyone that will give us a 95% apart from Bristol and West where you have to involve a parent. Thanks.
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Fixed Rate ends April, A&L say can't discuss until beginning of March....
Hi all after some advice our A&L fixed rate mortgage which we've had for 5 years at a reasonable 4.89% finishes at the end of April, now I phoned them yesterday to discuss possible deals and was told they can't discuss anything with me until the end of March as the market is so volatile!!! I was a bit confused coz if we…
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General Mortgage Advice Needed Please....
Hello All. First post on these boards so please bear with me :) Im looking for some sound advice as to where i stand with my mortgage, and mortgage company. We bought a 2 bed mid terraced in november 2007 for £85000. mortgage supplied via northern rock, we are on fixed rate for 5 years so it ends in november 2012. We have…
