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How are mortgages calculated?
I have a permanent contract with a company and the salary is £17.5K per year, with the same company I have an upgraded temporary post and the salary on that post is £25k. The temporary post has no end date. What would the mortgage company calculate the money available to me? Would it be on the 17.5 or the 20k and also what…
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Remortgage advice please!
Hi all, I would really appreciate some advice with my remortgage. I finish my current deal on 30th September. I am currently paying 5.59%. I am only 2 years into a 30 year full repayment mortgage. I paid £20,000 deposit (house purchased for £150,000 – mortgage £130,000), and would dearly love to pull some of this back as I…
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Getting a new mortgage
We currently have a £56,000 mortgage with Accord(75%LTV),this we got on my wifes wages as i did not work at the time.Now with me working and needing a 3 bed house(kids) could anyone give us advice as to if we could get a bigger mortgage in the current climate.We know a quick call to Accord may be the answer,but we dont…
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Mortgage option advice needed please
My ex and I brought a property together just over a year ago. He left shortly after. In the meantime he has continued to pay the mortgage but now wants out. He wants to sell, but the property has slipped into negative equity and I can't afford the debt and so can't afford to sell for less than what we brought for. He is…
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Getting a mortgage after a sabbatical?
Hi there, I'm considering taking a sabbatical from work for 3 months. The sabbatical would be paid - 25% of normal salary. I'm on £40k, so I guess it would be £10k pro-rated over the 3 months. OH and I hope to be in a position to buy a house when we get back from the sabbatical (planning on backpacking for 3 months and…
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HSBC Interest only mortgage (in two parts - interest only & capital repayment)
Interest only mortgage (in two parts - interest only & capital repayment) I took a graduate mortgage with HSBC 5 years ago and due to my young years was forced to take an interest only mortgage to manage the costs on my own and get onto the property ladder. HSBC enforced a rule whereby they gave me the majority of the…
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Unenforceable Interest on Mortgage
Morning All, I am just after some information.. I have just received a phone call from a company named: Client Connection Limited who claim that I may be entitled to a refund on some of the interest paid on my mortgage as it was taken out before 2007 and may be incorrect , (along the same sort of lines as the loans and…
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Halifax consent to let
I have a portfolio of houses on buy to let mortgages which i let out and 1 property on a residential mortgage. When i took out this residential mortgage i specifically told my broker that i would probably want to let it at some time in the future. They contacted Halifax who said I would be able to let it out and it was a…
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Why do FTBs get all the help?
I know that the market will really struggle get to back on it's feet until FTBs can get back in the game, but it seems to me that all the emphasis is being put on this group of buyers. I'm not a FTB, want to move, but only have approx £10k equity in my home. I find it frustrating that i cant get a 95% mortgage even tho i'm…
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is this Woolwich mortgage a good deal?
Back in early May we applied for a mortgage with Abbey but they are so ridiculously slow we are still waiting, they say it is still with the underwriters. Anyway, we decided not to wait for them any more (the vendors have been very good waiting all this time, but they were starting not to believe that we were still waiting…
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Advice needed - mortgage home - to purchase abroad
Hi, this is my first post so please bear with me. I own a property outright valued at 275K, our household income is 40K/yr but savings are negligible and we want to buy a holiday home in France. I want to borrow against my property in the UK, amount required 100K, to buy for cash in France. Can I do this by getting a…
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should i sell or become a landlord?
My wife and I have been looking casually for a while, problem being in the area we want to be in there's not a lot that meets our requirements, at least not in our price range! Anyway we've found somewhere we want and have an agreement in principle with Lloyds (who we bank with as it was quick and easy). Today we put in an…
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Endowment - to sell or keep ?
We have just received our yearly statement from Friends Provident regarding our endowment. We started this policy in July 1996 paying £98.65 a month with an end date of July 2021. Fortunately we have already paid off our mortgage so this endowment is no longer needed, thankfully, given that it is under-performing anyway.…
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RBS 2 year or 5 year tracker????
Hi We have sold our house, currently with a northern rock variable rate mortgage at 4.79%. When we move house we would like to go on an interest only mortgage for a few years to make the payments cheaper, obviously we will still pay into an ISA every month and continue saving, and eventually return to repayment. The best…
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RBS have instructed surveyors...??
Does RBS only instruct surveyors if they have approved you for a mortgage offer subject to the valuation of the property? or do they carry out a further credit check etc after the valuation before an offer is made? is the underwriting done before the surveyors are instructed or after? im so confused and nervous!!!
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Advice needed please - relationship breakdown
Hi all, I hope someone might be able to offer some information or advice to help me understand my options at this time. My partner and I recently split up and I have moved back in with my parents. My ex and I have a joint mortgage on a property we bought a couple of years ago. Unfortunately, like many others at this time,…
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Royal Bank of Scotland won't help me
My fella has called RBS as we're struggling with repayments. He is self employed work has dried up and he has managed to get a part time job in a supermarket but it doesn't cover the bills. I have asked the mortgage company, RBS for a payment break or to go interest free and they say they don't do this. Has anyone got any…
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1st time buyer any other 10% deposit deals out there?
My daughter is a 1st time buyer and has found the RBS 2 Year Tracker rate - First Time Buyer Exclusive. The product has no fees and 10% minimum deposit which would suit her needs - the deposit will come from the bank of mum and dad. She is looking to borrow c£72000 against a property valued at £80000. Are there any other…
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some mortgage advice please
im 22 live with my parents who have a mortgage on their house. they would like to move to a bit of a bigger house basicaly for me to have a bit of space while i save for my own mortgage. (where we live it isnt cheap) the question id like answered is, could we change their current mortgage from being all on my dads wage to…
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Alliance & leicester mortgage
Hi, Has anyone taken out a mortgage with A&L recently? They seem to have the best rates for what we need but our broker told us they are having problems at the moment and that its taking ages for mortgages to go through with them. Any ideas on timing? I'm reluctant to get a survey done and start paying for stuff before…
