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Lots of equity in one house - can I borrow for another?
I currently have a property with a large amount of equity in it. My job will be moving to London shortly for 2 -3 years. I was considering renting my existing home out, as the rent would more than cover the mortgage, and buying something small in London (up to about £350k) now that house prices are starting to rise again.…
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Fix or not - brain is hurting!
I have been mulling this over for a couple of days now but losing the wood for the trees! I hope people can give me a more removed and rational view. Have total mortgage of £113k on a £240k property (post-crash value). We are coming to the end of a fixed deal and tracker deal on two mortgages and revert to 2.5% with…
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Silly question...what are chances of fixed rates coming down??
I'm no expert but I'm following the fixed rate market at the moment. Everyone is rushing to secure a fixed rate, myself included. Interest rates might not rise until end of this year beginning of next so is there time for fixed rates to maybe drop again beforehand or is the trend definitely up from now on??
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Underwriting Process
We have obtained agreement in Principle with Birmingham Midshires, they requested P60, payslips, statements, valuation etc. valuation came in perfectly. We have sent all this and await an offer. What is the next step with the underwriting process. Is it a done deal or are there hidden pitfalls. Also how long will it…
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FTB Best Mortgage Deal
Hello everyone, I've just registered to MSE so I'll do a quick introduction. I'm currently in the process of taking the first step into the property ladder. Both me and my partner are FTB and were allocated a 2 bed flat for a new built development in London on a shared ownership scheme. Now we got to the harsh part where…
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Annual interest calculation
Looking to take out a short term Woolwich interest only mortgage - nominally 5 years, but hope to repay after a few months once a bond matures. Woolwich say interest is calculated annually & that while lump sum repayments can be made as you go along, they do not recalculate the payments until 30 September. Don't understand…
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Will New Job Affect Mortgage Application?
The company I work for is in the construction industry and looks close to going belly-up. I was just about to succesfully to buy my first home when this was announced by my employer and now I'm going to have to pull out of the purchase :confused: Now I'm urgently job hunting but my question is - will not being in a new job…
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If I remortgage whats the form re: valuations???
Hi, We are looking to come off interest only at 2.5 with Nationwide and fix at 5 years.. we have 32000 outstanding and 12 years to run. Nationwide are not quite as competitive as a remortgage with hsbc ect.. My Problem is I dont fancy a valuation bloke coming round as we are in a bad state decoratively and the garden needs…
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charging order
heres my problem, having split with her, we jointly own house valuesd at 110k owe 103k, i have 2 charging orders against me, one for 5k and one for 8k, i really need to get something from this, she is gonna buy me out i believe for 110k, leaves about 5k after solicitors fees, any ideas
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Extending lenth of mortgage whilst fixed
Hi I do need to check my mortgage documents but wondered if someone might be able to help. Our mortgage is fixed at 4.98% until June 30th 2010 and is with Lloyds TSB Scotland. House bought for £180K, borrowed £168k over 25 years in May 2008, similar houses going for £180K (we got a bargain when we bought it :D ) OH's job…
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Fixed Rate Mortgage
Hi there, Can anyone P L E A S E help me out there. I am looking to re-mortgage onto a 3yr Fixed as of August but the cheapest deal i can find is 4.99%. (£850) Mortgage is 106K over 15 years :confused: :confused: :confused: :confused: :confused: :confused: :confused: Thnaks in advance JOE
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buying first home need help
the exchange is happening next week so should be moving in soon and i was wondering can i take a loan and put it on the mortgage as the house needs some work the house needs rewiring as was told when suveyed and loads of other things just have not got about 8 grand sitting around can i put it on the mortgage or do i need…
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Family trust fund investing in us as our 'mortgage lender'?
Our mortgage deal comes to an end in a couple of months so we are looking for a new 5 year fixed rate deal to replace our current 5.19 rate with Natwest. At the same time, close relatives are executors of a family trust fund which is looking to invest in something to give a better rate of return than its current savings…
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Moving a mortgage with no equity or deposit?
Hi all? Sorry if this sounds a bit thick but Im after some advice regarding my mortgage. Basically we are on a Woolwich lifetime tracker which tracks at 0.29 above base rate so a great deal at the moment. We paid £115K for our house 4 years ago and now are quite desperate to move but are looking to only get about the same…
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mortgage between two people but one is retiring in 5 years. HELP!
Hi All, Sorry if this has been asked before. I want to get a mortgage of 170-180K. I have no debts. My salary is 29K. I have a person willing to go in with me on the mortgage, their salary is 31K. However, they are retiring in about 5 years, but own a house that is valued at £400K. By the time they retire I am confident…
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FTB Mortgage
Hi, I'm just in the process of waiting for the acceptance from our mortgage company. I have just been a good offer on a mobile contract phone and woundered if i apply for this contract it might affect my mortgage application going through. i.e credit checks. Shoulds silly question and just wanted to see if anyone had any…
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FTB Mortgage
Hi there, A little lost here... 22 year old FTB, good sized deposit (25%+) looking for a fixed rate mortgage (ideally 5 years) on a propperty of 70k. Full time employed (15.5K per annum) with same company for near 4 years. Met with a couple of independant advisors who were helpful, spent a bit of time with each who both…
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Mortgage - Arrangement Fees
Hi, I have been with Chelsea as part of a two year fixed rate mortgage. I have looked at new options now I have come to the end of my agreement and they are offering 5.05 5 yrs fixed rate IO, with an arrangement fee of approx. £300. Can they not waiver the Arrangement Fee or has anyone negotiated this before? If I am…
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HELP needed....
Dear All, I am looking to buy a property in the near future. Have enough money to pay 20% of the deposit. My only problem is that although the company that I am working for since last December has the intention to offer me a permanent position; at the moment I am only on a temporary work contract. Is there any chance to…
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HSBC - any good?
Right subject to rates, looking to sign up with HSBC. Has anyone had an issues with them?
