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Homebuy direct + low credit score
We're at the stage where we can choose a property to buy through homedirect, mortgage will be £100k prescribed limit by home2own), cash contribution of £6k buying 70% of a £150k house. Thing is my credit score is 221 (very poor)...there's no CCJ's/defaults etc - the only negative section is because I have never had credit…
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Endowment settlement, now they want it back!!!
I received a letter from Norwich Union about my endowment policy which was surrendered in 2007 for the settlement value of £17,000. The letter explains how I had a loan for £6,000 which should have been payed back by norwich union and deducted from the settlement before I got the money, but the amount was not deducted and…
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Credit score worry!
I know mortgage companies are very strict about who they lend to at the moment. I have just over 25% deposit saved to buy a house at some point which i hope looks good to a mortgage company as it's all saved not gifted( I know roughly size/location of house we'll buy). I have tried to make sure i have as good a credit…
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Mortgage plus finance to renovate the property.
Hi all, I'm a newbie here and looking for some advice. We have just had an offer accepted on a property at 210k, the property however needs a bit of work doing which equates to 60k are there any mortgage companies out there that will lend the money up front to enable the work to be done? Both Nationwide and the halifax…
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Decision in Principle - further checks?
Hello Myself and partner have recently been accepted in principle for a mortgage with Nationwide (we are first time buyers). Just now we applied for a £2,000 unsecured loan with Sainsburys to help with legal costs, but got declined :( . We have had a few credit checks recently as we had another DIP completed by another…
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Advice on Parents Endowment policy
Found out today that my Mum and Dad have received a letter regarding the endowment policy with Standard Life ( I have not yet had chance to see the letter). They took out the policy along side their interest only mortgage about 25 years ago and it will mature later this year (final mortgage payment is due Nov next year) My…
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* Fast track mortgage applications?! * Urgent help!
Hi all, does anyone have any experience or advice on lenders who apply a fast track mortgage? We were ready to exchange today, only to have our lender say that a restriction that needs to go onto the title is not allowed, as they will not allow ANY restrictions, only a 2nd charge. A second charge is not an option. I'm just…
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Fixed/Variable or stick to base rate?
Hi Guys, Wondered if someone could give me some advice. We have had a mortage for 6 years now and are coming to the end of our fixed rate (6.24%) next month. My Hubbie would like to stick with the base rate and not tie ourselves into a deal, which would save us £400 per month. Nationwide have offered us a 2 year fixed deal…
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Will my unsecured loan be included in mortgage LTV?
hi there i am new to the forum and would love some advice! just planning to buy a house with my boyfriend.. i have an unsecured loan of £12k and am wondering if lenders are likely to ignore or include this when working out the LTV on the property we want to buy... ie if i we make £10k each on the sale of our houses so have…
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Mortgages
Hi, Im currently renting with my wife and stepson we've been looking at getting our foot on the property ladder, but i`m a little nervous as my credit score is less than ideal. Iv heard people say they can get a mortgage and use some of the money to clear there debts. I was wondering how likely it was that a lender would…
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which lenders for mortages???
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Leasehold forefiture procedings and Mortgages
Hi all, unsure if this is the best board to post on but here goes. Had a letter today from solicitors acting for my Landlord/Building owner threatening to 'notify my lender of commencement forefiture proceedings' on my Leasehold apartment if not paid the balance of service charges within 14 days. Background is myself and a…
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Mortgage Query - Payment Holiday
Hello there My partner and I recently decided to split and as a result I am now saddled with the house and entire mortgage. On his leaving we've a few small debts to clear up and I've just started a nine-month temporary contract role. As a result I'd like to take a payment holiday to cover this so I can get back on my feet…
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N Rock Payment Hol
Hi, Was just wondering I recently rang up Northern Rock for a Mortgage Payment Holiday and have got to call Back when Im due one which is in 2 months time but they have said they have to ask all your Monthly incoming & outgoings as the interest is applied to your monthly Payment do they also do credit checks on yourself…
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Any expert advice?
We are needing to remortgage!! I've been in touch with the Halifax and have received information through, which I think sounds ok!! So long as our house is valued at or around £130,000, we hope to borrow £90,000 (to consolidate debt of £20,000). We've been offered a fixed rate of 4.69% for 2 years, does this sound…
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Does early repayments on Morgages apply to interest only morgages?
After reading on the website whether i should pay off some of my morgage or invest my money into a saving account i worked out that i would save more money paying off my morgage. Does this rule apply to interest only morgages tho? I currently have enough money to pay my morgage for six months if i had to and have maxed out…
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Interest Only v Repayment Dilema
Sorry yet another IO question! I currently have an Interest Only Mortgage (350K) and the deal is about to run out so I have lined up a new Tracker and cost for a Repayment is about £1500 a month. This seems a lot to me so I am considering an Interest Only, so is it fair to assume if the Mortgage is 350K and the interest…
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interest only mortgages
Am trying to find ways to hold onto my home and asked about an interest only mortgage but they say I need a policy or something in place to cover the cost of my home. I have 71% Equity in a £140,000 home and would be selling this house to repay the balance owed and downsizing when the kids leave home. This RBS say is not…
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Abbey offset/flexible tracker mortgage savings....
Hi, Just wondering if any of you have an Abbey Offset/flexible tracker mortgage. I have a sizeable amount in my savings pot and im considering paying it off against the capital. I spoke to Abbey this morning and they advise me to keep the money in the savings pot as it earns more interest. Surely its better to lower the…
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Possible move to interest only - advice please
Hi Need sme advice and have zero cash to go to a financial advisor! I'm having major debt hassle (getting help though) due to business folding. Looks like having to go bankrupt (again getting prof help). Am single with no dependants, only got part time temp work at moment, looking obviously for more (working hard from tips…
