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Affordability (& variable income)
I'm hoping someone on here can offer some advice about mortgage affordability and in particular with a variable income as we're hoping to buy a house but unsure how much we could or indeed should borrow. Bit of background: I earn roughly £65k a year (£34k basic + commission). I've worked for the same firm for 10 years, my…
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When could I get a mortgage?
I'm a single 25 year old, currently earning about £36,000 + bonuses. I don't have any dependants. I'd like to be able to buy somewhere because I have been wasting at least £1,000 a month on rent for the last 4 years, and that makes me really unhappy. I feel like I've put at least £48,000 down the drain. My problem is that…
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Loyalty bonuses (reverse carpetbagging)
I've just been going through my old savings accounts, with a view to closing some of them. I noticed that the Cambridge Building Society have a 'loyalty bonus', where if you have £100 in a savings account with them for a year you save £500 in mortgage fees. While I'm not planning to buy a house at the moment, it's worth…
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Offset Mortgage - Is it really right choice?
I am first time buyer planning to buy a house at £350000 with savings of £150000 and interest only £200000 offset mortgage. First direct is offering interest rate of 2.29% pa plus BoE interest rate (currently 0.5%). It is amounting to around £465 per month. The real appeal of this deal is that there is no repayment charge…
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remortgaging to purchase house
Thinking about remortgaging the house in order to buy a house/houses from auctions.I have plenty of equity, house valued at 140000 only owe 6000 could get a mortgage 4 100000 any thoughts.
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Offset Mortgage and Savings - Advice please
I'm about to take out an offset mortgage with Intelligent Finance. I propose to take out a cash ISA with IF and use that to offset. I have about £10,000 in savings and wondered whether it would be worth putting this into a savings account with IF or look for a better return elsewhere. I would need easy access to this. The…
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nationwide mortagges sla
Hi. I applied for a mortgage through an intermediatery. Documents were sent to Nationwide on 20/10. Valuation was done on 28/10. According to the intermediatery nationwide has still not looked at the documents as on friday. Is there any way to escalate the process as I need to exchaneg contracts by 12 november or loose the…
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What option would look best? Credit card or loan?
Hi My fiancee and myself are hoping to buy a house in 2 years time. At present we have one loan totalling 369 per month which is due to end in 3 years. We also have credit card debt amounting to 6500. We make payments of £200 and sometimes £300 a month depending upon circumstances as I am self employed. My question is....…
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I'm employed, fiancee is self-employed with 5 years "unaudited" accounts...
Hi I'm employed, and have been with the same company for over 6 years. My fiancee is self-employed, and has been for over 5 years. Her accounts are compiled each year by a chartered accountant. On the front cover of each year's accounts it states they are "unaudited". We both have a personal account each, and a joint…
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Conveyancers Dispute (Common Land) Help? (FTB)
Hi, I am currently in the process of buying a house that has a grassy strip of land the between two rows of houses down the street. There is also a field next to where the houses are. This is all considered common land and every resident owns a little part of it incase anyone ever tried to build/change it - it would…
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Refused mortgage through broker - better luck direct?
Sorry this is a little long, but trying to be as clear as possible. I would really appreciate any thoughts anyone could give me. I'm a first time buyer, with LTV of 66% and never been in arrears in my life, so was surprised when I was refused a mortgage with Northern Rock. I applied for the mortgage through a broker, which…
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Any thoughts on our situation
Hi, Looking for advice, have a mortgage with NR was a 7 year fixed, it ends in January we are going onto SVR, the house is worth about 120-125k our mortgage is for 43k, during the 7 years we got into trouble through disabilities on my part, which had left us stuggling and for too long we robbed peter to pay tom, we went to…
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Second charges!
Hi All, I have just had an offer on my house which sadly is lower than I would have liked but I just want to get rid of the house as quickly as possible. I have managed to negotiate a reduced settlement with my mortgage company. Is there anything I can do with regards to getting the company I have a secured loan with to…
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Broker Takes Client to Branch to Apply
An odd thing happened the other day and I wondered what thoughts other have on it. We had a non customer call the bank branch I work at to book a mortgage appointment. Nothing odd in that as we have some pretty good deals on. Anyway a nervous youngish lady presents herself to me, promptly joined by who I learnt was her…
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Capital Raising on BTL
Are there lenders who will capital raise on BTL property for a deposit for on residential purchase? A friend has asked me but I know the bank I work for will only allow the cash raising to be used on permanent home improvements on the BTL property or as a deposit for another BTL purchase. Thanks.
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Remortgage or savings?
Hello I need a little advice as I'm confused! My partner and I are wishing to carry out some alterations in the home to improve our living space as we have looked into moving but would be hard pushed to find a bigger house for what we can afford. So we have had quotes for the work coming in at approx 12k. What I need to…
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Questions from a FTB
Me and my girlfriend are FTBs, and very excited about our first home!:beer: Being new to this, I've got a couple of questions: 1) Do we need to go to our solicitors to sign something in person, and do we both need to go? Reason I ask is that she currently lives and works away so getting to the sols might be a problem! 2) I…
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Refused remortgage can i do anything
I have been refused additional borrowing on my mortgage by abbey is there anything i can do? I messed up a bit with earnings as my hubby has 2nd job earnings - i also forgot to put proof of child benefit in with application Heres the details Current Loan £104933 Additional wanted £22000 (9000 home improvements, rest debt…
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Getting out of a mortgage after a split - same solicitor?
Hi there - I wonder if anyone can offer their advice? I split up with my boyfriend last year, we have a mortgage together. He is in the house, I havent paid into it since I left, and he put the deposit down on the house. It has now come to the time where we can now get my name of the mortgage. I am wondering if we should…
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Mortgage Porting
I've got a £330k mortgage on a house which is worth c.£500k. Due to a new business which is not developing to plan, I'd like to downsize my house to reduce the burden on my business. The problem is that I can't get a new mortgage at present due to lack of income and the building society has said they won't allow me to port…