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Long term fixed rate - worth escaping?
Heres' hoping that someone can give me some advice, in 2007 I switched to a 10 year fixed deal 5.25%, offset mortgage. Obviously I am paying well over the odds for this now, but it has a get out clause of approx £1700. The mortgage is due to run until 2022, there is £47,000 balance and a another secured loan on the offset…
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Reluctant to leave my 1.5% variable rate
Hi all I've seen all the recent news reports of fixed rates being withdrawn. I'm inclined to keep hold of the brilliant rate I've got for as long as possible, but don't really want to end up stuck on a very high rate, even though my mortgage is relatively small, at £52k. Any advice from others would be most appreciated. I…
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SVR v Fixed
I'm in a quandry: am currently on the SVR with halifax at 3.5%. I bought the property through Homestake ( a shared equity) scheme and the fees that other lenders charge for this are prohibitive. Therefore, the options are stay on the SVR at 3.5% or move to a fixed with Halifax at 4.59% for 3 years. Any thoughts?
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Good Mortgage Lender for Let Properties
Currently on a SVR rate of BR + 1.99%. A further 1.5% is to be added on top in 5 months as the property is currently let (thanks Nationwide), taking it to a minimum 3.99% SVR. Fixed rates are currently lower/as good as that so maybe looking for a bit more security for 3 or 5 years. LTV is about 75% (£88k/£120k). Can anyone…
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Switching from Repayment to Interest Only for Buy-to-let Property
My husband has a buy-to-let mortgage which is now outside it's fixed rate period. He contacted his mortgage provider to advise them that he would like to switch from repayment to interest only. He was advised under new FSA regulations that the switch could only occur if he also took out an ISA or an endowment policy…
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Mortgage Quote from Financial Advisor
My husband and I are currently outside our fixed rate period for a mortgage on our main residence. I contacted a financial adviser who is charging us £600 in total for his services. He has found us a great deal on a new mortgage but I am concerned about his fees - Is this what you would expect to pay a financial adviser?…
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variable or fixed struggling to decide HELP
Hi My mortgage is due to end at the end of April, I have negative equity in my home due to the fall in house prices. I am struggle to decide whether to agree a new fixed rate for two years which will have a cost to it which can be added to my mortgage or to chance keeping on my current deal and go on a variable rate If i…
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Nationwide Mortages - Overpayment Withdrawal
I'm about to be debt free on credit cards for the 1st time in years :) so I'm planning on getting a 0% credit card and spending all my cash on it and transfering the money into the mortgage. How easy will it be for me to reclaim the funds from my mortgage as this will save me quite a nice little amount over the years as my…
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Newbie, will need support.
I've looked on MSE for deals for years, but now i'm looking to settle down and buy a house. All the things I thought I was too cool for. I need to know all the processes, needed and will keep looking in, for tips and hints. First question. how much money in hand do we need to buy a house for about £120K, so we know what we…
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Halifax existing customer rates. Where are they?
I have been regularly checking Halifax rates as we are on a SVR for some of our mortgage, and wanting to keep an eye on the fixed rates. But now I cannot find them on their website... just a page about mortage info with a contact number. Note: I can find rates for other mortgage products, it's just the existing customers…
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Mortgage end date and terms - confused and complaining to C&G
Me and my husband originally took out our mortgage with C&G in January 2009 on a 2 year fixed term agreement. The mortgage loan agreement states that our first payment will be x amount with 23 monthly payments of £x and then the mortgage wil lrevert to SVR. In the section which states this it tells us that this 'assumes…
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Mortgage deal due to end...confused
Hi Me and my fiancee originally had an interest only mortgage with Northern Rock, it was fixed at 5.89% for 5 years and we pay £480 and due to end in May 2011. The outstanding balance to date is £94577 but the house value at present is probably between 80000-85000. NRAM will convert our mortgage to repayment of we want at…
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I have an excellent credit score - my partners is very poor - mortgage?
Hi, This is my first post here - I am just looking for some advice. Me and my partner are looking to buy an apartment at £117000. We have a 20% deposit to put down. I checked our credit scores last night and whilst mine is excellent 994 on Experian - my partners is very poor. He has a couple of late payments to orange and…
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Difference between remortgage and new fixed mortgage?
Hi All, Sorry, I didnt know where else to ask this question! My 5 year fixed term has come to an end and with Martins advice being what it is I'm looking to fix again for a similar term. However I dont know what the difference is between refixing and remortgaging? And am I able to fix my mortgage with a lender other than…
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How long does it take a bank to assess you?
When you get an appointment with a bank for a mortgage and they take your details, entering them into a computer or what not. Does the computer assess you there and then, or do they contact you via post/telephone? thanks
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First Time Buyer Needs Advice on Credit History
I have finished university 3 years now. I missed 2 x payments in 2007, and 5 in 2006 due to the bills going to my parents address while I lived at university. I also never heard about credit history, thus my lack of interest in sorting the issue. Anyhow... what would be my chance of getting a mortgage, considering me…
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additional lending on my mortgage
So I called up my mortgage company with whom my flat is mortgaged with with, and asked about "additional lending" ofcourse they ran through the numbers and said I was able to borrow up to 10K I was ofcourse pleased, my question is they sent me a form with details of both applicants myself (and my mother) whos name is on…
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Nationwide fix ending.
Hi, Appreciate there’s a fair few queries at present along the lines of should I fix, should I drop onto SRV etc. I’ve actually made a decision on my own situation! Background is as follows: * Coming to end of a 5 year fix with Nationwide at 4.79% on March 31st * Estimate I should owe £30,675 at March 31st * Property worth…
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Mortgage with previous IVA (more than 6 yrs ago)?
I was previously in an IVA from September 2006 to September 2009. It was concluded early by way of a full and final settlement. I fully appreciate that it would be difficult if not impossible to get a mortgage with the IVA, albeit completed, still on my record. I had hoped that after 6 years when the IVA and all defaults…
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Offset mortgage/savings and interest rate question
I cant really get my head around this one so if someone can help it would be appreciated. I have an 80,0000 mortgage with first direct and it is currently offset with 40,000 in savings. The mortgage rate is 2.69% - tracker. So effectively my savings are receiving 2.69 % interest (tax free so that's equivalent to a fair…
