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mortgage question
Hi, We currently have a C&G mortgage on their standard variable rate. amount outstanding 133000. Our property recently valued at 175000 so would have 42000 from house sale. We have about 20000 in savings. Would need to use some for fees when purchasing property. We are looking to buy a house for 250000 so would need…
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Buying Parents' Home
Hi all, this is my first post so please forgive me if I have posted in the wrong place! I would appreciate some advice on the idea of buying my parents' house for less than it would sell for at market value. My wife and I currently live in the house and would like to get our foot on the property ladder. To use example…
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best tracker with a 25% deposit
Hi all, I am looking for a tracker mortgage, I have a 25% deposit, any idea who if offering the best deal for this? Is applying on the internet and getting the mortgage in principal just the same as letting a broker do it for you? I have had a few informal meetings with mortgage brokers based on the above tracker with 25%,…
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Mortgages without wage?
Well not quite, I took a bit of a drastic career step some time ago and have finished the first part of my architecture studies, currently working in an architecture practice in Australia, planning to return to the UK around September to complete my masters (another 2 years full time studies). I purchased a flat some years…
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Overpayments vs. savings
Hi, I currently have a fixed term mortgage running for another 4 year. Each year I can put aside ~£5k of savings. My question is shall I use those £5k to make extra payment on the mortgage (my overpayment limit is more than the £5k) or should I put them in a savings account and use them when my current fixed deal expires…
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Moving from permanant to contract work - how easy to get a mortgage?
Hoping I can get some advice. OH has been doing IT contract work for the last 12 years and has been in continuous employment. He took a permanent job 14 months ago to enable him to move into a different area. We are seriously house hunting, viewing a property for the second time today but expect our max. offer will not be…
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Am I a First Time Buyer?
Title says it all really. I used to own a property (mortgage holder) with my husband. We sold up in 2005 and have some of the proceeds left which we'd like to use as a deposit on a new property in the not too distant future. I'd assumed we wouldn't be classes as FTB, but a friend tells me you revert to that status for…
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Mortgage going into retirement age?
My DH and I are applying for a mortgage with HSBC. We want to borrow over 25 years, however, my DH is 37 and has to retire at 55 leaving a short period where the mortgage will still be payable once he is retired. I am currently not working as I'm at home with our young children, I do expect to go back to work once they are…
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Not sure what to do! Help!
Apologies for length of this but will try and keep it as short as possible! Mum & I selling our houses & buying new one together for £339,950. I thought my mortgage of £25K would just transfer over to new house, however found out today this isn't the case - old one needs to be paid off and new one taken out. This is a…
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Help/advice needed re: borrowings for mortgage
Hi there Me and my partner have just done up our first house and have made a good profit. We have a new project in mind and the purchase price is £350,000. My earnings are £35k per year employed My partner has no earnings We have just over £100,000 to put down as a deposit But on my salary I can only get a mortgage for…
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Financial advisors - are they worth it??
Just wanting a bit of advice on Financial Advisors, are they worth using? who pays them, the mortgage company or is it hidden in the costs to us? Many thanks..
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How long will my mortgage take now?
Hiya all!!! We've just been offered a mortgage (in principal) from Northern Rock, all our documents have been signed and certified, proof of income, payslips etc have been sent verified and returned to us. Does anyone know what the next step will be or how long it is likely to take now? Thanks
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do you use a advisor/broker or do you find your own mortgage deal????
Right i do my own research and get my own mortgages, some people use brokers/advisors. Now whenever i have been to a broker / adviser, they have always told me they could not get anywhere near the deal i had sourced myself. Last year i got 2 mortgages a five year fixed at 4.15 with a 15% deposit and i got a 3 year deal at…
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MSE News: Mortgage holders could save by switching to daily interest
This is the discussion thread for the following MSE News Story: "Mortgage holders whose interest is calculated once a year could save cash by switching to a deal where interest is worked out on a daily basis ..." Read the full story: Mortgage holders could save by switching to daily interest
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Mortgage on a 1 year employment contract
My fiance is looking to buy our first house ( I am unable to join the process at this stage as a ex bankcruptee! ) He owns his own company which has been paying his salary for the last two years but due to the recession is now having to go out and get a salary elsewhere until the situation improves. He has been offered a…
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Bad Credit Mortgage
Hi, Long story, so here goes. My partner, currently has a house with a mortgage outstanding of £127,000. The house is up for sale with offers invited between £140,000 and £150,000. We won't accept anything lower than £140,000. This leaves us with £13,000 for a deposit on a new house. However, my partner is now self…
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Northern Rock mortgage
I currently have a Northern Rock fixed rate deal which is coming to an end in August. As Northern Rock are no longer doing new competetive deals this means I will either have to automatically transfer to their SVR or change mortgage lenders. However, my husband was made redundant Oct 2008 due to company liquidation and…
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Changing from Self Employed to Employment
I took a mortgage in August 2007 for £120,000 with Standard Life . My fixed rate was only for a year so now I am on their variable which is 5.34%. I have about 109,000 left for 23 years and 3 months. For me trying to remortgage and get a better rate was somehow difficult as I was selfemployed. My status changed this month…
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REnting out house - should I inform mortgage co?
Hi Not sure if i am posting in the right area, me and my step-brother bought a 3 bed house together 4 years ago to get onto the property ladder, we lived there for three years and had a friend/lodger in the 3rd room. Last year we moved out with our partners and are currently renting the house out to a family... we done…
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New mortgage deal and OH's self employed
Hi Am looking for some advice. Our 2 year fixed rate runs out in June (think it's 5.3%) and we're unsure what to do. Our LTV should be at least 20% hopefully 25% as am getting house valued soon. Am thinking of swtiching to our lender's SVR initially: it's Abbey and think it's about 4.4% so we would be abouit £200 amth…
