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buy second home in need of renovation: bridge loan or secured loan or other?!
Currently live in London and found a great flat for £350K but it will need extensive renovation, so we would like to stay in our current flat until the renovations are complete. Local estate agents from 3 different companies have suggested that we list our flat for £475K and expect £450, with an estimated equity of £220K.…
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Seeking advice on switching mortgage
Hi, Our 5yr fixed rate mortgage with Woolwich will be ending in a few months time and we want to start looking around for some good deals. However, what we want to know is how easy/difficult is it to switch mortgage providers since the banking crisis happened and what obstacles and fees are we likely to be faced with? Also…
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Help - I can't remortgage
Hi, We're in need of some advice. We coming to the end of our fixed rate stepped mortgage currently at 5.99% with Santander. We've just applied for a mortgage with Woolwich using London and Country. However it seems my change of employment is preventing us remortgaging and I'm wondering if anyone can offer some advice. I…
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how do i find them plz ????
Hi, this is my first thread, my mom told me about it. right well we got into a mess with our mortgage in 2009. it is with mortgage express £700 per mth then. last year we had a court order for the arrears and i had had enough of things not being paid, arrears building up so i shut our debit accounts down n opened a basic…
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Mortgage renewal time in May, inheritance due just after
Hi, my wife and I have £175000 balance outstanding on a 5 year fixed rate mortgage (25 years left) with Nationwide that's due for renewal at the end of May. At the end of last year, I learned that I was due some inheritance that will enable us to live mortgage free. The inheritance won't come through until after the end of…
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Mortgage with an overage
I hope there is a mortgage expert out there who can help. I'm buying a house with some land. The vendor wants an overage on the land in case it's ever developed in future. As it's currently greenbelt and I have no intention of building on it, I'm not concerned. However, my mortgage broker has informed me I'll be unable to…
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Consent to let - 2nd mortgage
Hi, quick question.... Is a 'consent to let' seen by lenders the same as a 'buy-to-let' In other words, if a property has CTL will lenders 'ignore' this mortgage/outgoing when assessing you for a new mortgage on another property?
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Steps for first time buyer
I'm trying to get a handle on the buying process. Is it right that you should agree a mortgage in principle before finding your property? What does agreeing a mortgage in principle involve exactly? I assume it means the lender runs credit checks and you pay them an arangement fee? The problem is that you might not find…
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MSE News: Halifax: house prices rose in January
This is the discussion thread for the following MSE News Story: "Following the pre-Christmas dip due to the snow, typical values increased by 0.8% last month to reach £164,173 ..."Read the full story: Halifax: house prices rose in January A similar thread has already started on the 'discuss house prices' thread but this is…
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How do i find a mortgage broker?
Hi Just wondering how do i find a good whole of market mortgage broker? i checked martin's guide and couple of them are mentioned but is there anywhere else a more comprehensive list of mortgage brokers? Cheers
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Repossession charges by hbos
Can anybody help or advise me please. Last year after a bitter struggle.I had my home repossessed. It was worth around £285,000 but the bank/Estate agents marketed it for £249,995. When they took possession of the house they removed all exterior doors (3)and placed shutters with holes in them in place of the doors and over…
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Most depressing website?
A little light relief for Friday. Which website do you think is the most depressing? My vote goes for Thisismoney as the articles and people on there just cannot see the light or even nice side of life.
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Need to pay off mortgage?
A friend has been paying off her interest only mortgage using endowments set up for that purpose. She has 2 endowments left to mature, one in April this year and the other in June next year. The mortgage ends next June. Because she paid a lump sum a few years ago the endowment that matures in April will pay off the…
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First-time buyers to be!
Hi, Me and my boyfriend are currently saving for a mortgage deposit. We opened a Santander First Home Saver account and are aiming to have over £10,000 saved over the next few years. This will be enough for a 10% deposit on a house in our area, plus some extra for furnishing etc. We would just like to know if 10% is…
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mortgage repossession advice needed please
this may sound like a a strange one to cut a very long story short my partner was thrown out of the family home some time ago and continued to contribute to the mortgage however when he realised they were not going to get back together he told her he could not continue to pay the mortgage and rent somwere for himself to…
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Mortgage Problem, advice needed please
My wife and I are in our 50s, and because off ill health we've had a big drop in income. Because of this we've changed to an interest only mortgage with 10 years to run. The house is valued at 230k, Mortgage 120k, with little prospect of paying it back at the end of the term. My son has recently suggested that he buy the…
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Re-Mortgage can i do this myself?
Hi all, hopefully on Monday i plan on re-mortgaging from NRAM. I have found a great product with the nationwide which will reduce our payment by £160. We want another 5 year fixed which is 3.5% (Nationwide) as we have a low LTV 245k/113k. We will probably overpay, but want the fix payments as low as possible for the next…
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Advice Please - Remortgaging but wanting to move
If the NRAM ERC waiver 'rumour' is confirmed as expected on monday I will be looking to remortgage We have a NR Together mortgage on our property £130k outstanding on a £140k property currently tied-in until November 2011 @ 5.99% My 'dilema' : Our house is currently on the market as we are looking to move, however, with…
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First Time Buyer's advice needed
Hi All need some advice... My girlfriend and I are looking to buy our first house, we've spotted one we want for £190k, we have a 20% deposit available, I think it works out in the region of £38k. Here's where the problems begin, I have 2 defaults on my account and did have a CCJ unknown to me. The first default is with…
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Interest Only Mortgage To Clear Debts
Hi I have my mortgage with Bradford and Bingley. I currently pay £1600 per month and have 10 years left to pay. My house is worth £400000 and my mortgage is for £200000. Because I am with B&B I have no option but to find a new lender if I want to change the terms of my mortgage. I have approximately £20000 of credit card…
