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first time buyer needing help please :)
hi, im a first time buyer and ive been accepted on a homebuy scheme. the property is 75k and i pay a mortgage on 30% which equals to £22500 though i only have 10% deposit. ive been offered a mortgage with halifax fixed for 3 years with 90% ltv at 6.98%. ive looked at several others and thier roughly the same :( . so am i…
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what to do with this cash
Hi Helpers, My endowment policy matured in Dec 09 albeit with a 7K shortfall, anyway phoned C & G and told them I would like to pay off 12K off my mortgage. " ok that will cost you £300 " I paid the max I could without a penalty 1.9 k what is the best thing to do pay the £300 penalty or keep the money in a high interest…
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Second home mortgage versus Buy to Let
Hello everyone, I'm seeking some advice regarding the above topic. A member of the family has been struggling to pay the mortgage on his home, and I have been approached to buy him out. The idea is: that I clear his debt, but he remains in the property as a tenant. The property is worth around £125k, and the money I would…
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Reclaiming motgage penalty charges
Hi, In the news today the FSA has fined a mortgage company for charging excessive fees for missing mortgage payments, and is ordering them to repay the charges to customers, it also sayes other lenders are in the frame for the same treatment, my question is this, does anyone have any futher info on this subject as it…
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Ditch My Fix rate ?
I am currently have the following mortgage with Yorkshire BC… Repayment £12,689 ending Dec 16 on a fixed rate of 6.39% ending Feb 2013 Interest only £30k ending Dec 16 on a fixed 6.39% ending Feb 2013 And Repayment £13,300 ending Dec 21 on a fixed 5.89 ending Mar 2013 Early repayment charge £2130 on the (Feb 2013) part and…
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Can I change an accepted offer on a repo
Hello, I am a first time buy and I have recently put in an offer on a repossessed property; stupidly I put in an offer at the asking price. The sale is all going ahead very fast, and I am a week or two before I am about to exchange contracts. I am having second thoughts about the offer I made, The public notice has been…
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Why cant I get Extra borrowing!!!!
Me & My husband are both working full time earning good salaries. Are home is worth £120,000 - £130,000 yet are morgage is 67,000. We was on a fixed low interest morgage until ocober last year and were now on variable. We want to borrow £26,000 to put an extention on our home to make it 4 bed insted of 3 and give us a…
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Still wondering whether I should buy myself out of this fixed rate
Hi all, I'm currently on a 5yr fixed (6.09%) with Halifax that started in July '08 (i.e. just before the rates dropped through the floor). I am paying £740 pm on a £110k repayment mortgage over 23 years. Being in my second year of this deal, it will cost just over £4k in charges + redemption fee to remortgage. However, it…
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MSE News: Government-run lenders slash mortgage switching costs
This is the discussion thread for the following MSE News Story: "Northern Rock and Bradford & Bingley will allow some borrowers to move lender without the usual four-figure penalty ..." Government-run lenders slash mortgage switching costs
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Mortgage Worries
I earn £20,240 a year. This job is temp for over another year with the hope of going perm. My house is worth £115,000 however due to debt, I need almost £90,000 to pay off loans, debts etc. I am currently with the Alliance & Leicester who I hate due to customer service and do not want to use them again. What can I do to…
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First time buyer help
I am a young proffessional who is looking to purchase my first property. BUT I havent got a deposit!!! Where can i find good deals for first time buyers with no or little deposit? is this possible? Are their any schemes available for first time buyers in my situation? Thanks
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loosing my mind and money! SL endowment sale??
İ think i have all the relevant info on my endless enquiry about this endowment--sorry to all those who have been patient with me and helped- the minimum value at present is 17973,45 with a higher value of 18615,38 the terminal bonus is 3,9pc in May 2011 it was a 24year policy not 25 as i automatically assumed! its a…
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Can I get a mortgage 4.5 to 5 times my salary?
Hi there, I would like to seek advise from a mortgage advisor in your forum. I would like to put an offer for a flat in London and the price is around £200,000. I have read most of the lenders give normally up to 4 times your salary but some can give up to 5 times. How can I get a deal like this? I am earning 35,000 a year…
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House value v deposit
Hi! We are keen to buy our first house. Have found one we liked and as it's been on the market since before the Home Buyers Report Scheme came in, we've had our own survey done on the property. It's come back at £220,000 and the property price which we've had accepted is £175,000. I wondered, could this difference in price…
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Tracker reverting to BMR - retain or switch
I need some eagle-eyes to check I am not about to do something unwise. My tracker mortgage with a building society is about to come to the end of its tracker period and revert to the base mortgage rate. The tracker was from a while ago, and pegged at 0.23% above BOE - not as good as it might sound as the building society…
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Aviva endowment
1 = 37.20 A MONTH SURRENDER VALUE £10,417.43 FUND VALUE £13,954.82 MORTGAGE PROMIS £7K ON MATURITY STARTD DATE 1 AUG 1991 TARGET AMOUNT £30,000 2 = £40 A MONTH SURRENDER £5570.36 FUND VALUE £13,024.78 MORTGAGE PROMIS £3850 STARTED 22 NOV 1996 TARGET AMOUNT £26,250 both are just saving plans+lifecover, mortgage is repaiment…
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Employed Director - Mortgage on Dividends!!
Hi.... advice needed!! (I have searched the forums and can't find this specific thread!) We are first time buyers... I have been working my !!!! off for £10 years to get a deposit together!! I am a director of my own company (50% share holding), this year I will be 30, my partner can prove that she has been earning £24K a…
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Want to port my mortgage need advice as..
Hi myself and my husband have a mortgage on a house with nationwide of 155,000 and our house is valued at 180,000, since we first moved i have gone part time and the mortgage person we spoke to at nationwide call centre said that under the current lending criteria we could borrow £148,000 so he said we would be unable to…
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Is it possible (FTB)
Me and my OH are looking to get our first mortgage. We have a 10% deposit. However I have a late payment marker from May last year and quite a few recent searches, I have £2.5k of debt. My partner has excellent credit and about £10k of debt I think, but too much available credit, which he is going to sort out this week. We…
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Transfer of equity help - NOW WITH FIGURES
My girlfriend is currently still paying for her marital home with her now ex, 50/50 split. They are planning to sell the house, pay off mortgage and split the remainder and go their sepreate ways. They have defaulted on payments last year during their split and therefore I've read on here she wont be able to get another…
