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Halifax Mortgage Promise - what is it? Are we likely to get our mortgage?
Hi. I read on a thread that you're a mortgage advisor. I wonder if you could give me some advice. My wife applied for a FTB mortgage with Halifax. She was looking for a 90% mortgage on a property worth £150k. She applied for a decision in principle (AIP) or Mortgage Promise as Halifax call it. It came back as a catagory B…
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Interest only mortgage for self-employed?
Hi I have a close friend who I'm supporting through her divorce. She's self-employed via a limited company & earns £28k per annum. She's also pregnant,expecting a baby in May so her earnings will be much lower from now on. She lives in a house worth £350k with a mortgage of £250k. Her husband is apparently owed £30k of…
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First rate home finance 1.95%
Hi Last week was searching on a comparrison website for different mortgage products, After outting my details in a pop up appeared saying a mortgage advisor would phone me to arrange a chat?? So a man rang and said he would send one of his team out and it was a free service as they got fee off lender! I agreed to the…
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Mortgages & Personal Loans
I was thinking of taking out personal loan for the car and using the deposit I have already as a mortgage deposit....this is effectively like getting a loan for the remaining deposit. I can afford the monthly repayments of the personal loan and the mortgage. Would this effect the interest rates much or the amounts that I…
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Webb resolutions offering to discount my balance?
Hi there, New to MSE, been reading for a while and wonder if by any chance any of you chaps/chapettes can help me out. I took a mortgage out with GMAC in 2007(I know I know!!!) Anyway, to cut a long story short just over a year ago it was sold to Webb Resolutions...which alarmed me at first as I thought I was in for it!!!!…
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Post office/bank of Ireland mortgage concerns
We are looking at getting our first mortgage and we've been made aware that best rate is probably with the Post Office. However, following the latest news, we are concerned that the Bank of Ireland may not be the most stable institution to use. Please could someone advise us on what the worst case scenario could be or if…
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DIY vs Broker
Hi all, I have recently applied to HSBC for a lifetime tracker mortgage 80%LTV @ 2.49% + BOE base rate for the term. Today i honoured my meeting with my agents mortage advisor just to see what they had to offer in case i get to turned down. I was very dissapointed as after his fee of £529 the best he offered was a 75%LTV…
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Extend mortgage..to pay off Brother's mortgage?
Hello all Like many others,I am struggling big time to keep up with payments etc. My brother (58) has moved in to my flat and I /we thought about joining up,and when he sells his flat ,my mortgage hopefully will be paid. His flat has been valued at £220,000 (1 bedroom in Twickenham) on market for approx 4 months. He owes…
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Can I remortgage / borrow on joint mortgage
Hello, If one was on a joint mortgage (50/50) would one be able to borrow and/or remortgage their share of the property without the others permission? I.e. if one refused to sell to the other could the other just borrow on the half they already own or would both parties need to sign on the dotted line so to speak. J
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mortage drawn down and WTC
hi does anyone know anything at all about taking an extra amount on your mortgage (to purchase a property) and how it might affect a claim for working tax credit.? thanks molly
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Mortgage Question for a Novice
Hi apologies if this is a stupid question - I think I know the answer but would just like some confirmation!! I currently have a new build property that I own 100% but have a second charge on for 20% of the property (ie a builders interest free loan for 10 years) and the rest is mortgaged in my name. I have checked with…
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equity release or mortgage
This is my first post on here so firstly i would like to say hi to everybody I own a property and have no mortgage, we are looking at having extensive work done on the house, my question is as im very new at this is it better to get a mortgage or Equity release, or is there no difference. And the best place to go for…
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Nearly time to remortgage
Does anyone know if mortgage lenders require completion certificates if you have had building work done?
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Valuations - are they a formality?
Going from another post on another thread, someone has said that a valuation is to confirm the property if worth the value of the mortgage and that the mortgage is going tot be accepted as long as the valuation comes in at the right price - is this everyone elses experience?
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Two questions regarding income multipliers
I'd be interested in having answers to the following. Before applying whatever multiplier(s) they use: 1. Is pension income from e.g. private or professional pension considered by lenders as the gross amount or net of any tax which an individual's circumstances may inflict on it? 2. Will lenders accept rent from property,…
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Financial status question - can we switch away from Accord?
We have been with Accord Mortgages for 4+ years and two products with the latest having 18 months to run. We started as Self-Certification customers but we now have it in black and white from Accord that they will be treating us as full status prospects for the purposes of any future product with them. I anticipate that,…
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Mortgage Adviser News-revised qualification and new mortgage adviser types proposed
The Financial Services Authority plans to require all mortgage advisers to hold a level three qualification and will apply the 'independent' and 'restricted' labels to all mortgage firms. The FSA has outlined a series of requirements for advisers in its consultation paper on the mortgage market review. The proposals…
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Shared Mortgage - Legal advice?
Where do I stand legally? Since my wife and I split, I pay the full monthly mortgage and secured loan on our property. She has refused to pay a penny since March/April. We now both live in seperate rented flats and the property has been on the market since we split. There is no equity in the house. I have dropped the…
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Please help us ASAP :(
Thanks alot guys, hopefully we'll get it sorted
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RBS Mortgage application - how long till I get the offer?
Hi, My application to port my mortgage to a new house has been through the underwriting stage at RBS and the survey and mortgage valuation was done today. Does anyone know how long on average it will take to get the actual mortgage offer from them and what can go wrong now? thanks
