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Northern Rock Borrow Back Confusion
My mum has a flexible Northern Rock Mortgage with the Borrow Back facility. She made an overpayment of £7.5K just over a year ago and, although she had the option to lower her monthly payment at that time, she left it at the same amount it has always been so as to maximise the saving. Now she wants to take £3.5K of the…
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Help with Insurance and Arrears
We have a mortgage with Northern Rock. Unfortunately we had some difficulties paying our mortgage and ended up having to go to court, we now pay a fixed amount which was agreed in court between us and Northern Rock. Last week my husband was laid off from work and now we are panicking that we will fall behind our payments…
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Size of deposit vs mortgage rate
How much difference is there at the moment between interest rates for a 20% vs 25% FTB mortgage? Considering whether to start looking or save for a bit longer. If it's relevant, we'd be looking at a house price of between 400k and 500k on a joint income of about 130k, so mortgage of between 300k and 400k. Thanks...
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Interest only Mortgage with downsizing as security?
I want to know if any mortgage companies offer interest-only mortgages where the ability to pay-off the mortgage is covered by a commitment to downsize in the next 4 years as security? We are retiring, have the clear and proven ability to pay our current Halifax interest-only mortgage payments until the end of term (which…
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Mortgages I do not understand...
YBS are offering a mortgage at 3.99% fixed for 3 years at 15% LTV, it says that after the fixed rate it refers to 4.99 SVR. I think I know what that means...that my rate 3.99% will go upto 4.99% is that right? If I wanted to go to another lender after 3 years, can this be done and how much would I get charged? My other…
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Mortgage Application and Use of Overdraft
Hello Our mortgage application is just in the process of being handed in. As its a joint one we had to printout 3 months statements from our current accounts. We have 3, one each and a joint. MIne is fine and the joint one is slightly into the overdraft because we transfer a set amount every month but sometimes we use the…
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Best 5yr fixed rates at 25% or lower LTV?
Hi What are the best products on the market for a 5 year fixed rated with a maximum of a 25% deposit? Many Thanks
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SDLT Form Fee
Hi all, We are looking at the list of chargers provided by our solicitor and have come across a SDLT form fee of £30.00 + VAT. We are first time buyers and are exempt from the stamp duty payment but should we still be paying for the form to be filled in? I noticed this as i compared a few quotes and others did not list…
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Mortgage Ignoramus
I am not ashamed to admit I am quite (very) ignorant when it comes to choosing a mortgage. I never really seemed to have benefited from good rates like others I speak to. Currently I have a 5.59% 3 yr fixed repayment mortgage with the Woolwich which expires in April 2011. With a mortgage reserve. I've decided after many…
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owe less pay more
I hope you folk can throw some light on this as I am very confused. I have a combined mortgage with 55k interest only and 26k on repayment. One of my endowments matured so I went to pay off 20k from my interest only. If I do this my building Soc says my payment will in fact go up by £105 per month from £253 to £358. I…
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natwest taken 7 mnths for mortgage and still full retention
Applied in june 2010, natwest have still put a full retention on, they want about £1000 worth of work done which I have no problem with and supplied all the reports they asked for but are saying now they want to know if there is any movement. What should I do? First time buyer. Giving about 23% of deposit as well. Natwest…
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Selling a house - joint mortgage
A friend has recently split with her partner. She has remained in the marital home whilst he has gone AWOL. The mortgage is causing her real pain and she'd like to sell the house and clear the mortgage (agent's current estimate would cover the mortgage). The house has been marketed for a number of months and finally an…
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90% LTV Mortgages - Advice Needed
Hi, I really need some advice about the best mortgage deals around. I don't currently have a mortgage, although I have been named on a mortgage in the past. I've managed to find a 90% LTV with the HSBC at 4.99% fixed for 2 years, but wondered if there are any other good deals out there with 10% deposit and a lower interest…
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Removing someone off a joint mortgage
Hi I was wondering if someone could give me some advice? Without going in to details, my ex partner has left our home which we have a mortgage, I am currently getting one by myself. My question is when I come to giving him is half of money, my understanding is that he will have costs aswell to come off the mortgage? Or do…
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HELP First Time Buyers Mortgage - Changing Jobs
Hi everyone, Me and my girlfriend are going to be applying for a mortgage in the summer, but we’re in a situation where my girlfriend will be changing jobs at the end of the summer. She is currently working as a teacher doing her GTP year (Graduate Teacher Programme) and will be moving on to her NQT year (Newly Qualified…
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Negative Equity/Transfer of Equity, Advice needed!
Hi, My partner and I are splitting up. We own a property jointly that we bought 2 years ago. We didn't pay a deposit as it was a new build and its now in negative equity. I want to take the property on myself and have started the process with the lender and this seems positive so far, I know that this could be difficult…
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MSE News: House prices fell in November – just
This is the discussion thread for the following MSE News Story: "Values dropped by 0.1% but the market may be stabilising, mortgage lender Halifax said today ..." Read the full story: Halifax: house prices fell in November – just
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deeds question
my father passed away in september, the insurance payed of the mortgage, The mortgage was joint with my mother and they were married, The morgtage company have now returned the deeds, am i right in saying we have to change the deeds into my mothers name only, theres was no will, am i right in saying it rightfully hers,…
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Mortgage for Converting 2 Flats back into house
Hello, This is my first post- I hope I have posted appropriately. I currently live in a ground floor flat and also own the freehold to the building. I am hoping to obtain a mortgage to enable me to purchase the upstairs flat and then to turn both flats back into one house. I have learnt that the mortgage provider will also…
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how do mortgages work if i need money for improvements
say for example i want to buy a house for 200k and we have 20k for deposit. so it would be 90% ltv if for example we need another 20k for home improvements, can we take a mortgage for 220k and pay 22k deposit? but then the original value of the house would only be 200k....maybe after the improvements it would be worth 220k…
