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extending for second home
Currently my wife and I live in a small two bedroom flat. I have a small mortgage of £74000 and the house is worth approx £110,000. However it is not selling. We have seen a house which we will happily live in for the next 5 years until we can sell both and move to something larger. However we want to move now to get a…
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PLease help really need advice.
Hi i apologise first if I am in the wrong forum but im not to sure if this is what I need. I have decreasing morgage cover with a firm I dont know if I am able to disclose. I have a joint morgage and have been seprated from my partner for 3 years through domestic violence and have several courts orders against him. We have…
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On a temporary contract but have a large deposit
Quick question for those in the know. What are the chances of someone on a temporary work contract (they are 6 months into a 9 month contract, no guarantees of a permanent job at the end) getting a mortgage at about 30% LTV (i.e. a very large (70%) deposit), borrowing 3x their salary, or slightly over? Edit to add: total…
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Purchase Price or Survey Price!?
My fianc! and I are looking to get out first steps on the property ladder; we are saving hard at the moment for a cash deposit for our first mortgage. We have had some conflicting information from 2 mortgage advisor, one told us that some mortgage companies will use the Home report/survey value to work out how much you can…
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likelihood of getting mortgage
Hi, I have about £30000 worth of debt in credit card and unsecured loans. My credit record looks ok apart from being overloaded with debt. I have been one month in arrears and default charges about 5 times in past 5 years according to credit record with loans and credit cards but always back on track within a month. All…
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Basic Mortgage Infor Required
Hi, I would be grateful if someone could take some time to answer my query. We have a fixed rate deal over 5yrs with Halifax, which I am about 2.5 years through, the mortgage is around £145,000 and at 6.89% we are paying about £960 per month. The term is 30yr. Looking over my statement, we are only paying around 1k off per…
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HELP - Is a mortgage agreement legally binding?
If anyone can provide help advice on this I'd be hugely grateful. We exchanged contracts on our dream family home about 2 months ago. We know that there are some problems with the property (damp basement, a dodgy flat roof on the bathroom etc..), but nothing that we can't fix. These were flagged up in our survey and the…
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first time buyers in need of guidance!
Me and my fiance are first time buyers, we are buying a house off my fiances parents. The house is worth £130,000 and we have between £35,000-£50,000 saved for a deposit. We both have good credit rating. I was wondering if someone could help me decide what type of mortgage to choose. Some people i've asked have said that…
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Whole of the market and zero fee or spend a bit of cash?
Hi I'm looking for advice as to whether I should pay for a bit of independent financial advice or instead go to a whole of the market zero fee broker. We have a mortgage with poor LTV ratio, probably negative equity and our fixed rate has now expired (little bit of anxiety about future proofing our mortgage repayments). We…
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Finding a way to keep my home
Hi, I need some help. made redundant, couldn't get another job so retired. No pension to speak of so am claiming pension credit. Have managed to change bank rate tracker to interest only (with NRAM) for 12 months but rate changes to standard variable in June 2011. Have equity in property. My daughter and son n law would…
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I was told that I had to start my mortgage again
Looking for some advice,I got a endowment mortgage in 1993 but after 12 months the company we got the endowment policy from stopped taking the money out of my bank account,but I did nothing about it.then in 2003 my motgage lender told me I would have to start a new mortgage all over again,was this correct.any advice…
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Advice needed on whether to leave tracker
Hello I was just wondering if someone might be able to advise me what to do. I am currently (very fortunately) on a base rate +1% tracker, so paying 1.5%. I have just started looking at fixed rates and they seem so much higher than what I am presently paying - if the base rate was to rise by 0.5 or 1%, then it would…
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Fine mess
Hi there, my daughter made the decision to buy a house with her partner, they were both just turned 19 years old and had both worked since leaving school at 16. The plan was to do the large 4 bed semi detached up and sell asap, the reality was he had no interest and also decided one girl was not enough and left her to go…
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Repossession-average time to be chased for shortfall if i got assets?
Hi, Can someone tell me what the average time a bank will chase you for a mortgage shortfall after repossession if they are aware you have assets? (i realise its upto six years but what is the average time?) thanks
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95% LTV for professionals?
I have done some basic internet searches but can't seem to find lenders willing to do 95% mortgages. I am a professional (solicitor) and with my partner we have a combined income of in excess of £128k, and are looking to borrow 95% of £375k. Any ideas as to where I might start looking? We don't have parents/family/friends…
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Mortgage advice for 1st time buyers!!!
Afternoon all, I am looking for some advice regarding mortgages, come May DH and I will be in a good position financially with some saved in the bank, most of our debt will be paid off and we would really like to go for a mortgage!! We'd both be 1st time buyers although in my younger years I did go for 100% mortgage…
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Natwest Mortgage Application
Hi there Does anyone know if Natwest mortgage application forms have a question about criminal records on them? My son is about to apply for a mortgage with them but he was a bit of a lad in his younger days!! Thanks pam
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Options on remortgaging with 72% LTV
Hi I was wondering if anyone could help suggesting a few options in terms of remortgaging for my situation. Here is a brief summary: Currently on joint mortgage, fixed rate, expiring 1/6/2011 with Santander, then reverting to Santander's SVR (4.2% currently). At the time we took the mortgage, my wife was working, but now…
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Mortgage Interest Payments
Hi, I currently have a fixed rate mortgage with Nationwide. I have previously used a formula to calculate how much interest I am pay out of my fixed monthly amount. This month this portion of the payment has dramatically increased (by about £80). Is there a reason for this? I have not increased the initial capital I have…
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selling a property too cheap?
Hi Guys, The wife and I have been offered a house worth approx £150k for 45K by a relative. The property needs a lot of work doing to it, approx 70k worth. Whats the best way to do this for both parties? Is it a simple as we get a mortgage for 115k pay them the 45 and keep the rest for developments?? really have no idea on…
