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Can we use equity in Parents house ??
Hi All, Myself and my partner currently rent. Together are earnings are £35,000. In the area that we live, to buy a house that fits our needs we are looking at around £160,000. Currently well beyond our budget. My parets want to help out. They have a house worth £250k with no mortgage at all. Is there any way we can use…
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Endowment Capital Gains Tax ?
I am thinking of surrendering a unit linked endowment policy and gifting the proceeds to my children, does anyone know if I would be liable to pay capital gains tax on this or indeed to you pay capital gains tax on an endowment policy?
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Should I give up on my endowment.
Hello all you Money Savers. I have a Standard Life "with profits" endowment plan which I took out to cover a 25 year mortgage of £45,000 in 1992. I pay £55.25 per month into this (£663.00 pa) it is currently worth £15,356 and set to mature in 2017. On my yearly statement Standard Life are projecting figures of Low- 23,000…
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Remortgaging - salary too low but Broker can do - sounds too good to be true.
Remortgaging - Salary now too low for mortgage calculator but have been contacted by broker that can offer mortgage. We are looking to remortgage but so far have not been able too as our salaries are considerably lower now than when we initially took out the mortgage. We are both in work, but I currently only work a few…
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Proof for S/E Mortgage - Advice please
I am self employed, as a Health , Safety and Training Consultant. I only provide a service, fo which I invoice. My only expenses are mileage related so my accounts are very simple, no goods or anything. Because of this I do my own accounts and submit an online self assessment. What would a mortgage lender need to see?…
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Anyone had probs with First Direct customer service?
Hi, what a shocker they are. Been nearly 3 months now since applied for offset mortgage. Completed today and turns out they have set us up on a repayment mortgage. The 'easy switch' for the bank account has turned out to be 'hard switch' and ended up switching evrything ourselves. They sent 3 lots of mortgage papers before…
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Re-mortgage & CCJ - Please help
Hi I own my house (approx 90k) outright - I have recently had a CCJ against me for £5k, which I am hoping to pay off next week. I have approached high street lenders and no of them will touch me - I need approx £20k to clear my debts - which with £90k equity isnt alot. Is there anyone that would give me a mortgage? Ive…
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Remortgaging - Salary now too low?
We are looking to remortgage, (and pay a £6,500 redemption fee to get out of our high rate fixed mortgage) but are worried that as our salaries are considerably lower than what they were when we took out initial mortgage. When we look at mortgage calculator websites regarding how much we are able to get, they fall about…
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can mortgage lenders take mortgage arrangement fee then refuse mortgage?
can mortgage lenders take the mortgage arrangement fee then refuse mortgage after aceptance in principle? Hi all, Got a first time mortgage in principle having laid down 45% deposit, had proof of this, income and checked my credit score which was very good and all they seem to do is drag their heels. They seem to want…
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Home buy Direct paying back the loan ?
Any tips ? With the distinct possibility of a 2nd crash this puts us in a better position to pay back the 25% value of the house that we owe as we pay back market value , we can only pay in 10% blocks so I think it works out at 10% 10% and then the remainig 5% and can not start paying back until a year has past from moving…
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Newbie mortgage questions...
hi guys, Just wanted some mortgage advice for a friend. He has recently lost his job, but is thinking of moving house. Was on a 5 year fixed rate (dont know waht the rate is) which expires next year. If he moves the mortgage to the new property and keeps it exactly the same will he have to go through a process of…
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Remortgage my share of jointly owned home
Re mortgaging my share of a jointly owned home I own a house jointly with my mother, and we have a joint mortgage which has £11700 left on it. My share of the house is worth approximately £35,000. I moved out of this house and now live in rental accommodation, I am struggling to cope with escalating monthly repayments on…
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Problems with Abbey/Santander??
Hi there My mortgage application is with Abbey and I originally applied for the mortgage several weeks back, via a broker, to buy a different house to the one I now want to purchase. That application went though at lightning speed and the valuation was instructed and carried out within a week of the initial application…
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Best rate for fixed?
Hey all, We would really appreciate some help and advice on this one please! 1. We currently have a mortgage with A&L; the 5 year fixed rate is due to end Dec 2010. 2. The purchase price of the property was £94k and the mortgage was for £84k (we have about £75000k left to pay) - So deposit will be the equity, approx…
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Nationwide Protector mortgage - warning
We've just bought our first house and went with Nationwide's 'Protector Mortgage', which includes 2 years free mortgage payment protection insurance (that's not why we had that mortgage, it just happened to be an added bonus). However, when I checked my mortgage online it turned out that they were adding mortgage payment…
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Approximating house purchase price from payment terms
Odd question I know, but if you know the payment terms of a mortgage, say £250 x 300 months (25 years) and it was taken out in June 2002, would there be a fairly straightforward way to approximate the capital element of the mortgage and the interest? I mean, £250 x 300 is £75000. You wouldn't be able to tell any capital…
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Should I cash in my endowment policy?
I've got a small endowment policy, which has 4 years left to run. The bonuses paid for the last few years have been rubbish, 0.25% -0.5%, and I accepted long ago that it'll probably only pay out about half of the amount it was 'supposed' to at the end of the term. I undertand that it used to be that the final bonuses paid…
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relationship split & remortgage
This is my first time posting so I apologise if something similar has already been asked & answered. My partner & I bought a property 4 years ago and our outstanding mortgage is now £150,000. At the time we bought for £163,000 and I put down a deposit of £7,000 from the sale of my flat. It is likely my partner & I will be…
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Mortgages plc/kensington takeover
We had a letter from mortgages plc , yesterday Saying they had been taken over by Kensington mortgages, we currently have a good deal with plc, and hoped when we had poss done 3 years with them.with no Problems we could go back to a normal lender.that would be January 2011. I know Kensington don't have a great reputation?…
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Gifted Deposits... Can anyone help me??
Hello all! Im new to MSE as a member but often turn to it in times of need (thank you Martin Lewis - unsucessful in my bank charges reclaim but I had a damn good go all the way to the FOS!!) I am looking for help with regards to Gifted Deposits.... I am in the position (again) after a break up of being a first time buyer,…
