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LTV calc: Lender valuation or purchase price?
Hi all.. I'm a bit confused. Can anyone confirm whether the LTV is based on what the lender values the property as or the actual purchase price? A mortgage advisor has told me today that is based the purchase price but I had thought otherwise. We are looking to buy my parents house at a discounted price so the difference…
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Mortgage question for you
I have approx 170k mortgage left at the moment, and it drops out of a fixed 4 year deal at the end of July this year. I will potentially have £110,000 of savings that I can throw straight at this when its reduces down to their SVR of Base plus 1%. We are thinking of moving sometime soon, but really a case of waiting till…
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Mortgage repayment, split between interest & capital
Hi all For no other reason than I'm intrigued, I've just worked out how much (or little!) interest I'm paying on my repayment mortgage at present using a mortgage amortization calculator. I obviously expected the interest element to have reduced significantly, but I was suprised to find that the amount I am paying towards…
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Mortagage application and temp contracts
Scenario: Wish to buy £190k house Have £84k to put down My income is £21.5k permanent job My girlfriend's is £11k BUT her work as a Teaching Asst is temp contracts Will the fact that she doesn't have a permanent job affect the application? Thanks Matt
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Traded Endowment Policy help needed!!!
Many years ago we were encouraged to buy some Traded Endowment Policies (TEP's) by a IFA. We were advised to put our life savings into them and to take out a loan to buy a higher value of TEP's. The idea was for the value of the policies to pay off the loan at maturity and leave us a healthy profit. We have now received…
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endownment decision surrender or keep.
i have 3 policys which i need advice on options when cashing in; Friends Provident; again Feb 2008 as not received latest statement. started 1989 endownment mortgage plan maturity date 01/08/2013 guranteed amount for bonuses 10,647 bonuses added in previous years 5949.46 new bonuses 14.87 total guarenteed amount plus all…
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Chelsea B of E Tracker ends in June
Does anyone out there have a Chelsea tracker (currently running a 1% very nice thank you !). My key facts document states that it reverts after two years (June 2009) to a variable rate which is 1.990% above B of E base rate for remainder of term. Although Chelsea have been fab at passing on all rate cuts with no collar I…
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90% Mortgage!!!
Does anyone have suggestions for 90% mortgages? My partner and I have just had an offer of £290K accepted on a great property. We now need to finalise a 90% mortgage, however Britannia have pulled all theirs and C&G have just put there 5year fix up by 0.2% to 6.29% after the BOE base rate was cut by 0.5%... We're runnning…
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Offset mortgage v savings
In an offset mortgage, if your savings pot is greater than the current borrowing would (a) the borrowing be cleared and any savings residual upto £100k (in the case of a joint mortgage) be safe in the event of the bank going pop OR (b) would £100k of the savings be safe (assuming savings of greater than £100k) and this be…
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After watching dispatches last night...........
in which discussions were raised on ageism and the 50 plusses being discriminated against ...............(get to the point swampy!!:huh: .........) There was one guy on there who was 65 (I think!) and was struggling to pay a mortgage. I cant remember all the details but dont the Mortgage companies think about how people…
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Down-size or Equity Release?
I'd like some advice. My DH and are cannot decide what is best for us, he is self-employed in the building trade and work is not as plentiful or as profitable as it used to be. Our mortgage has now become something of a burden and we would like to get rid of it either by downsizing or Equity Release, he is 60 and I am…
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Incorrect Advice from Mortgage Co on Consent to Let
Can anyone advise please?? Basically i contacted my current mortgage lender last month to ask if I could obtain consent to let. I went through all my security questions so this was a specific question on my account. I was told that this agreed and that all I needed to do was call them once I had the tenants moving in date…
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re-mortgage valuation help please
can anyone please help me whith a querry i had a mortgage with c&g that was +.25 above the base rate, this has now ended and im on c&g's standard variable rate which is currently 3%. ive had my house for 2 years now and have done alot of building work on it over the last few years but i am at a point where i could do with…
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seperated from partner - where do I stand on mortgage payments?
Hi, I am looking for help and advice regarding my mortgage and house - related payments. I separated from partner of 7 years in Sept 08, we purchased a house together in July 2006 (joint names on the mortgage). I moved out of the house back to my parents in september and the house has been on the market since. Due to the…
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Looking for a Mortgage Broker/Advisor in Manchester
Hi Not sure if I am allowed to do this (if not please burn this!!).....but are there any mortgage brokers/advisors in Manchester area? Thanks
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Paying wrong type of Mortgage
Three years ago, I changed my mortgage from an interest only, to a repayments mortgage; 5 year tracker. I’ve just had my annual statement in and it has my mortgage details still as Interest Only. I’ve been in touch with the provider, who have the paperwork for this change but they don’t know why it has not gone through.…
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Let's Lobby GMAC to reduce their SVR
I've posted on this before and took a lot of flack but that's ok, a good stimulated debate is never a bad thing! Here's the facts: * GMAC SVR is still at 5.75% despite the base rate dropping to 1% * Other lenders have reduced their SVR in line with the base rate drops * The government has pressured some lenders, but not…
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Just had a mortgage enquiry from a locksmith
.... wanted to know if there were any of those key worker schemes still around :rotfl: Sorry about that.....the old ones are the best :o :cool:
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75/25 House buying scheme NOT for keyworkers
Hi all, This scheme looks very tempting as we dont have much of a deposit and would love to get out of our 2 bedroomed flat we bought 3 years ago. However, it just makes me think there is a catch to it. These are the details below from our agent: The deal benefits from minimal outlay – 25% deposit paid (see further details…
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Advice on overpayments please
Hi people my fixed rate natiowide mortgage expires end of march i will have 26 years left to go and abot £96k owing, i am in a position to make overpayments of approx £300 per month, however, my wife and i also have a joint loan of £15,000 which we have just under 4 years repayments on. I am allowed to make overpayments on…
