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Credit check problem - Guarantor's address not recognised
Hello everyone, A slightly unusual problem and if I've not put it in the right thread, my apologies... I'm in the process of applying for a mortgage through a company called the Mortgage Works. They arrange mortgages backed by guarantors who have no equity so you can borrow a little more than you might be able to…
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Is a mortgage possible?
Myself and my boyfriend have found a place we would love to buy but there is a few issues stopping us going through with the process and the big one is mortgage.... My partner is self employed and has 2 years worth of accounts (tax returns from HMRC) to prove income of 20K per year. He also has a contract with current…
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Mortgage application turned down
We're FTB's, applied for a 90% LTV with Northern Rock. After an AIP they backtracked and can only lend to us at 85% because apparently my wife has a low (not bad) credit history. She doesn't have a CC, loan etc and so it's not surprising that she doesn't have much on her record. Our broker was annoyed, but says that…
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Mortgage advice
I need some advice. I am a first time buyer looking to get a mortgage on a property we wish to make an offer on. Looking to borrow 3.5 times joint salary with a 15% deposit. Met today with Leeds Building society today who do: 199 booking fee 800 complettion fee 3.45 tracker if we take their insurance 3.69 if we don't Spoke…
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Flats attached to commercial premises
Hi, I've searched for any answers to similar questions before & couldn't find much, but forgive me if they are there & this is old ground. I'm a first time buyer, looking at flats in London. At the moment I can get together enough money for a 15% deposit, and have a steady job etc so shouldn't have too much trouble geting…
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The best mortgages around?
Dear all, I am just about to buy a property (though not technically considered a first time buyer I believe as I have owned a small percentage of a buy to let property before) and I am wondering what are the best mortgages are around in others' opinion. I have roughly 50% deposit and searching for the other 50% via…
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Renting out my flat and buying a house
Hi there, Just after some advice and help please from the experts. I have a flat which I have lived in and had a mortgage on for the last 18 months. I now have a deposit for a house and want to move. Ideally I would like to keep my flat and rent it out. The rent I would receive will cover the mortgage. Would a lender…
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Help needed for 1st time buyer
Hi, I am looking to buy a house, but it's all a bit scary. While I have a little to play with in terms of budget I'm scared if this goes up too much it will all too soon become unaffordable. So do you go for a fixed rate and pay more for the short term but benefit in the long term? I think I have factored in all my…
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Options for extending mortgage amount
Hi, I am on a 3 year fixed rate deal with Halifax which is due to end August 2013. I am considering purchasing a larger property possibly as early as next year but I am wondering what my options are. I currently owe £170k on my Halifax mortgage but would want to increase the amount borrowed by around £100k (£275k mortgage)…
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Phoenix Endowment
I have a 25 year with-profits endowment policy, originally run by Royal & Sun Alliance and now managed by Phoenix. I have left it running hoping that the markets pick up by the time it matures in 2020. However, if they don't, I stand to get out of it less than I paid in! I realise no-one can predict the future, but would I…
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Mortgage Term
Hi, Im not sure what mortgage term is best for my needs. Im a ftb but only plan to be in my first home for about 3 or 4 years, which is when my girlfriend will have her debts paid off. We will then get a joint mortgage for a better place. Should I pay more each month on a 20 year term or get a 30 year term ? Im just asking…
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Complicated First Time Buyer
Hi I would appreciate any help people can offer. I am looking at buying my first house with my wife. We have secure (Well as secure as anybodies job is) job, earn a joint salary of £65,000 a year until recently had no debts (we now pay £500 a month for a car) and have a deposit of £20,000. Due to other circumstances once…
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re-mortgage problems...
bit of a long one, but heres the short version: 1) partner and i of 11 years have split, but we're tied to a 5 year fixed mortgage (yes, i know) which still has until next september to run. i want to leave her with the house and a decent mortgage rate (as opposed the horror story monthly price it is at the moment). so far,…
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Moving from a Homeowner to buy to let
Hi We are likely to be moving out of our present property with the intention of spending a year or so working out in Asia. I Have an existing mortgage at a very favourable rate. Questions: 1. Do I need to let my provider know that I no longer live in the property ? 2. What happens if I don't tell them this ? Thanks
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Mortgage advice please - TMB
Hi all Hoping someone can advise, just had letter from TMB stating they are ending our interest only deal, as we have been on this through financial difficulty.... Letter dated 17th May received today, to start from 1st June - surley thats not enough notice?? They have not said what the new revised payment is yet, will…
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Transfer of equity solicitor advice.
I am in the process of removing a name from a joint mortgage and the mortgage company require me to provide a solicitor to carry out the paperwork. Can anyone recommend a reasonably priced and skilled solicitor to do the job as I have seen quotes via the mortgage company website of £400 upwards and considering I paid £800…
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Mortgage calculation
If I take out a £37,0000 repayment mortgage over 15 years at 4.5% (paying £287 per month) on a five year fixed rate deal, how much will I have to repay after first 5 years. I want to save for five years and repay the mortgage after the 5 year fix ends, I just want to know how to work out what will be left. ps there are no…
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Low house valuation - how do I counter?
Hi friends-against-fraud, The bank has given us a valuation for our house which is lower than we were expecting, and which means we to not fall within the 75% loan-to-value bracket. We think this valuation is unfair, especially as we have had a new bathroom put in, new boiler, new water tanks, roof repair, loft insulation…
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Bad mortgage advice!
Hi, If a Broker placed someone on an adverse high interest mortgage; advising them that it was the only deal available to them ,when that person didnt have adverse credit, and purely because this lender offered large cash incentives to the broker,in what way is he breaking the law.What are the FSA rules on this and can the…
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Mortgage advice required please
Good evening, Could anyone with some mortgage knowledge give me some advice on mortgages please. Basically, I want to know what is the minimum deposit I would need to get a mortgage? House value - £170,000 Single application - My wage £36500 + £1000 bonuses pa No current credit commitments Excellent credit history Any…
