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FTB Post Office Mortgages and general advice
We had our AIP from the Post Office quite a while ago. It's taken us nearly a year to find a house and have our offer accepted - we have now had an offer accepted of £150k. We were going to put down a 10% deposit but as it took a long time we now have enough for a 15% deposit with about £1500 left over - I may be able to…
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How does a lender work out the value of a property - remortgage
Hi my question is as the title - I know that when buying somewhere new, the valuation generally agrees with whatever price you've agreed for the purposes of the mortgage. Makes sense as a property is only worth what someone is prepared to pay for it. Now when you remortgage, how does the lender calculate the value of your…
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Help re: remortgaging
Hi I just wondered if anyone could be so kind to give me a little advise? Our mortgage terms ends in April and our current provider doesn't seem to have much in the way of fixed terms (I'm leaning towards this in case rates go up in future, not sure if this is wise or not?). We around £78,000, but due to having a little…
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Help! Sole Trader Mortgage - take income after TAX?
HI Hope someone can help. My husband and I are self employed freelancers - so we come under the sole trader banner. We are trying to get a mortgage and our mortgage adviser has told us that the income the lenders use to calculate how much we can borrow is not only after expenses but also AFTER tax. This seems very unfair…
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Overpayment vs Unsecured loan vs building conservatory for wannabe second steppers
Hi I'm in a bit of a difficult situation and would appreciate any advice from you lovely MSE folks :) Essentially, we bought at the peak of the market with Northern Rock and took out a Together Mortgage. This has now become NRam and we are now on their SVR as due to a small LTV ratio of around 90% - fixed deals we have…
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Apply for 2 mortgages at same time
Hi, I am wondering whether anyone has similar experience on it. I am looking for a mortgage at 75%LTV, and intend to apply for it with HSBC directly after having the DIP from the local branch the other day. However, I read online that there are a lot of cases where mortgage application has been rejected despite the DIP…
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Intrest only remorgage payments.
Hi..i have a intrest only repayment morgage which i have had for a while,a few years ago i remorgage with first plus (an intrest only repayment) to get some money to do some work on my house..Ok what i dont understand is my main morgage payments dropped when the intrest rates dropped yet my first plus payments never…
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Overdrafts and credit report (for mortgage application)
Hi Just wondering if someone goes overdrawn on current account, but still within agreed overdraft limit, does this get recorded on credit report? I have had an instant where i accidently went slightly over my balance. This is the only time ever i have had this issue. Can this cause a problem with mortgage application? PS:…
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what to do with regards to re mortgage?
currently we have 37,ooo mortgage, over 25 yrs, and are on a variable at 3.5. we are looking at tying into a fixed term. what about of yrs would be best to fix into? 2,3 or 5? we have been offered 5 yrs ar 4.69. with no fees. which sounds great. BUT in 5 yrs is the economy going to have had enough time to settl? we were…
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KEY FACT ILLUSTRATIONS CON or What?
I have for the past 18 months or so been having a dispute with my mortgage lender. I've accussed them of mis-leading and mis-selling a mortgage product to me. The complaint is now with the Finacial Ombudsman Service ( It's been with them since July 2009 and has still not got to the Ombudsman, only to the adjudicator who…
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HSBC SVR - When BoE rates go up...
Ok, so I gather when BoE rates plummetted, HSBC's SVR (and i guess some other banks SVR) didn't follow all the way down. I was on a fixed deal at the time so was oblivious to when they stopped lowering the SVR.. Anyway, now I'm fairly sure I know the answer but when BoE rate goes up, will the SVR necessarily follow…
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Hello, I'm new to this site. I would appreciate some help please about my mortgage
Last week, I set up an overpayment of £50 per month on my repayment mortgage with Northern Rock. The mortgage interest rate is calculated monthly on the 1st date of the month. I pay my mortage plus my new overpayment on the 1st date of the month. Is this a good idea or am I mistiming the overpayment to get any benefit from…
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Old bankruptcy and mortgage help...
Looking for advice. We have had a mortgage offer aip and are now going to the next stages. My fianc! was made bankrupt over ten years ago (discharged over 8 years ago). The bank haven’t asked the question if she has been bankrupt and the credit score they did came back excellent which is why they have agreed to 5.5 x…
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Any Recommend me a decent financial advisor
Dont know about you but ive had a few and i dont like to say it, but most of them have been helpful albeit more adept to filling out the forms and processing the application than actually finding me the best deal or being passionate about the whole thing, onto the next one was the impression ive had. Anyway can someone…
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Remortgage and Poor Valuation
Can anyone help? Its my first post so apologies for the long ramble... We've had our property valued for the purposes of getting it remortgaged (to move to a lower rate) and they have valued it over £20,000 less than similiar properties on our estate. This is bizarre and frustrating as we have not only paid £325 for a…
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porting a mortgage
Hi i would be greatful for any help or advice. I bought my proprty 3 years ago just before the whole credit crunch, i now have a £102,000 mortgage on a property that i could probably sell for 115,000. I need to move for child care and work issues, the house i want to buy, is up at £89, 500. I have no savings and prob 15k…
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A wavering tracker jockey...
I am now entering year 4 of what was initially a 2yr interest only tracker 1% above BOE base rate on a (currently) 167500k mortgage. I have been chipping away at the capital with some of the resultant spare cash form my reduced payments since the initial 2yr term concluded to build my equity which is currently at approx…
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Natwest Valuation for remortgage
Found out today that the surveyor who visited my property 2 weeks ago seems to have come up with a low valuation in comparison to what other properties in the road are for sale at. Does the surveyor not take into account the fact that theres been many improvements made since i bought it or is it just the fact surveyors are…
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Interest Only Mortgages - proof of repayment vehicles
With regard to new mortgage applications, how many lenders actually ask for physical proof of repayment vehicles for interest only mortgages, does anyone know? I'm reading that one lender asks checks out 1 in 20 interest only applications from brokers. I also get the feeling that asking for evidence of repayment vehicles…
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Desperate for a mortgage with bad credit!
hi everyone I am in a tough situation and need some help desperately. I am trying to sort my finances out but its proving so difficult. My situation is below, i hope someone can advise me or give me some help! I currently live with my 2 daughters and husband, we took a mortgage out for 110,000 for our house and it is now…
