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Should I cash in my endowment?
I posted this query yesterday, but received no replies. Sorry for re-posting, but I just thought I'd give it another go, hoping someone else might see it. I'd be very grateful for any comments. I'm new to the site but I will try to reciprocate. Thanks. I have a 25-year with-profits endowment policy with Phoenix (formerly…
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Why do I need a Solicitor for repaying a mortgage?
My mortgage is about to come to an end and I have received a letter from Santander informing me that as part of the process, I will need to “appoint a solicitor to handle the legal requirement”. I’m curious as to what legal requirements I need a solicitor for. Whilst I realise that they hold the deeds to the house, is it…
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Mortgage arrears situation
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intrest only extension
morning all just after a bit of info, last march i lost my job and a few days later had an heart attack which left me in a lot of debt.the first thing i done was ring my mortgage company which is chelt and glos they let go over to a intrest only mortgage for 12 months ,i have another 2 months until this is up ,i was just…
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FTB Advice please
Evening folks, My first post for quite a while, and things have progressed since I was last using the forum...I'm looking to move out over the next 12 months and I'm looking for some advice. Firstly some background information (some relevant, some probably not):* Salary: £29700 (recent payrise to take me to this) *…
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Advice on housemate buying me out
Hi, I bought with a friend a few years ago and we have agreed that he will be buying me out. We have agreed on a value of the property - £250,000. This is the same price that we paid for the flat almost 4 years ago. How do we figure out how much money he will need to give me? We have both put equal amounts into the…
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Porting a Mortgage Query
Hi im new to the idea of porting a mortgage and would just like to run a few things past people to see if this sounds possible to do. Story is my uncle has a house mortgage free that was left to him by my nan. Now he cant sell the property outside of the family as would upset other members of fam (daft). Me and my partner…
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Advice desperately needed
I am not sure if this is the right forum but we are looking for some advice or information which may help us. We have/had a mortgage with Nationwide. Back in Nov 2010 we received an offer on our house with a set completion date. We agreed to this as it is a tough market and started looking for a new home. I informed…
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i dont have a clue
Hi I am currently renting a property that I wish to buy of a member of my family, the house value is around 100000 but they only want 75000 for it. which is what's left on the mortgage I would like to do some alterations around 20000, how much could I borrow the full price or the 75000. also I have up to a 15000 deposit.
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Halifax mortgage review with low credit scrore
Hi Everybody, I am hoping that somebody can help me and answer a few questions. Our mortgage deal ran out quite a few months ago now with the Halifax and the monthly payments went up a couple of hundred pound. We received a letter a while back saying that we could attend a mortage review. I sent them a letter back asking…
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Flat rent before you buy deal...advice
Hi all, I'm looking into signing up to a flat rental scheme on a new build flat on Gateshead Quayside. The flat is a 1 bedroom, fully furnished new build priced at circa £110,000. The deal is that I would rent for 12 Months @ £575 and at the end of the 12 Months if I chose to buy at a price which was fixed at the beginning…
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First Time Buyer - Need help???
I have a deposit of £30,000 that i have saved over the last few years.I would like to use it to purchase my first home. My problem is that at the moment my credit file is a bit flawed with 2 CCJs and 2 defaults from nearly six years ago. This is the defaulted date, so they are due to drop of my file in the next few months.…
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Should I wait?
Hi I came off the fixed rate late last year was paying 5.25% over 3 years - which although many dropped after this time we couldnt have risked a fluctuation. It was over 30 years, now 26.5 left and hope to reduce time this although not for a few years yet. I am now deciding wether or not to fix again (and i know its…
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cis endowment STICK or DITCH ?
I have a policy which is due to mature in 8 years, there is a projected shortfall of around £4000 at the mid range quote and break even at the higher end. i pay £70 a month on a policy which was supposed to make £40000. should i keep or sell ? i got £2500 many years ago for mis selling the guy who sold me the policy came…
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is it a good time to cash in my endowment policy
I have an mortgage endowment policy that we've been paying into for 15 years. Last year we stopped investing into it and used the money to pay more off the mortgage. I'm thinking of cashing it in and paying a lump sum off the mortgage which is up for renenwal in a few months. Good idea?
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FTB: Mortgages & PHDs
Looking for some pointers on how to get a mortgage with a PHD. I'm working FT, partner is studying. Here's the scenario: - I'm on £19.5k (secure job, touch wood ;) ) - Partner's stiped is £13k (tax free) and works one day p/w, abother £6k tax free. - Looking to buy end of this year - We're saving for a deposist, aim to…
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First Time buyer and clueless
Hello all I am a first time buyer and would like some advice about mortgages and gifted deposites. I have scrimped and saved since graduating and have managed to club together £10k. My grandparents (who live abroad) have very kindly offered to gift me £20k. First question I have is will I have to pay tax on this?? Second…
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Fixed rate or tracker
I believe that this is a common question and I have just read through another similar thread: fixed rate or SVR, however, I'd like to go down a bit more details and any thoughts are welcomed. I am looking for a 75% LTV mortgage. The fixed rate has increased significantly in the last few days while the tracker rate deal…
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How to guarantee a mortgage acceptance
Hi all, I would appreciate it if you could take the time to give me some advice... My boyfriend and I are hoping to buy a house in the next 8-10 months. We are looking at homes that are between 100-130K and have a deposit. We are both in secure employment (I know you can never be 100%, but our lines of employment mean its…
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Should I surrender my endowment?
I have a 25-year with-profits endowment policy with Phoenix (formerly Scottish Provident) that matures in February 2023. The premium is £75.54 a month. The basic guaranteed sum assured is £15,896 and previous bonuses total £1,494.22, giving total policy benefits of £17,390.22. As at December 2010, the projected final…
