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FTB - Tight timescale?
Im a FTB and I've had an offer accepted on a repossession at the tail end of last week and was told by the EA that I've got 28 days to exchange. With it being a repo it's still open to higher offers until contracts are exchanged so I'm trying to get everything sorted as quickly as I can. I've got my solicitor sorted and…
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Anyone doing BTL with no penalties for overpayments ?
Hi Got a couple of houses which i rent and i am in the position to purchase another. They have very small mortages left on them and i would pay them off but can not as i have restrictions (2 years max overpayment £500 month for 2 years). Have 13 months left. I am looking at another property at an excellent price and want…
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Gifted deposit - help!!
I am a first-time buyer and have been gifted my deposit for the house I am about to purchase. The gift was from a life-long family friend, but not a relation. The mortgage company are now requesting a letter from the person who gifted me the money, but I have read that this needs to be a family member. Is this true - will…
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Mortgage update for a short-term let?
Hi I'm hoping there is some expert advice out there for this, as I am struggling to find any info anywhere! We have an Abbey/Santander fixed mortgage as first time buyers, and have less than 75% loan-to-value ratio. We are planning to go away backpacking for 8 months in a few weeks' time and will be hoping to rent the…
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Don't understand endowment
Apologies in advance for length and possible lack of relevant information. I find it really hard to grasp anything financial, and my OH is busy. Sorry if this is something really obvious, but I know that the nice people on MSE are usually really helpful In 1994 we bought a house for £44k (numbers rounded up). We had £2k…
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Mortgage Advice Required
sorry to be a pain with more than likely stupid questions! It is a long time since I've held a mortgage and the procedures have all changed. My husband got a aip from Lloyds, we found a property, put an offer in, accepted etc, now here is where I dont understand the procedure, the valuer is going out Thurs, Lloyds mortgage…
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Is this Legal?
Hi all hope you can stick some advice my way? I took out a Let to Buy Mortgage with SPML back in 2004, that company i believe went bust and the mortgage then was passed on to Future Mortgages who have since sold the debt to Engage Credit. We have always rented out the property since 2004 as we remortaged to buy a new…
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Joint to Single mortgage
We currently have a joint mortgage. However I have something on my credit file that I am disputing but it is causing problems for my wife hen she applies for a credit card. What would we need to do to change the mortgage to her name only, and how costly could it be ?
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house split
Hi all, thought i'd ask on here as it seems the most sensible place. Currently got a joint mortgage on a 150k house with my other half (were not married though). Basically, she owns 66% and i own 33%, due to her putting 50k in as a lump sum at the start of the mortgage. The remaining 100k was then split between us as a…
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Recently self employed remortgage question.
I bought my house around 8 years ago through right to buy and then 5 years ago I got a home improvement loan which was affordable until a year ago when my car had a mechanical fault and went on fire (not covered). Then at around the same time our roof was condemned and although we got a good grant to fix this we still…
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Bank Error in My Favour????
Hi Everyone, I was fortunate enough in my last job to have a staff mortgage that tracked the Bank of England base rate at a market-beating rate. [As an aside, I did pay additional tax on this as a "beneficial loan", so this post is not about tax.] I've since moved on from that job and it appears that I am still paying that…
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Mortgage advisor linked to EA?
Hi, This is my first post here but I've read a few old threads on this kind of topic - just after people's thoughts/advice. My husband and I have been renting for a few years and now have quite a decent deposit saved up. We have started looking at houses (tentatively!) and getting mortgage quotes. We have contacted London…
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Mortgage decision process
Hi, We found a house and tried to get a mortgage, we used the estate agents mortgage advisor, paid £700 for the broker fees and valuation, however the advisor hasnt been able to get us a mortgage. We are first time buyers, the mortgage will be in my name only as my partner is sled employed with less then three years books.…
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Have to use Mortgage providers valuation ??
I'm applying for a mortgage. I have spent the last days getting quotes for a Homebuyers survey and valuaton,..only to find that the mortgage provider now says I MUST use their valuation...which (surprise surprise) costs a fortune more than any other surveyor I have contacted. Can they do this ? can they demand that I use…
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employed / SE in the same year
Hi Guys, could someone explain me how would the lender assess such a situation. I have been self employed since 02/2009, so have 2 years trading which as i know few lenders will accept I have been told that they will assess affordability based on avg of 2 years company's NET Profits However during 2009 as it was first year…
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Interest Only Mtg
Hi, I am writing on behalf of my parents who are looking for some advice. They currently have a mgt of about £50K which is interest only. They took it out three years ago to mainly get away from a high interest rate - they were advised to go for interest only then do an equity release when my dad reaches 70, which he will…
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Issues with hubby contributing to deposit?
Hello all, I'd appreciate some advice and hope I can explain the situation clearly....here goes...! I own our house but we consider it ours, and hubby pays half of everything. Due to his bad credit history, when we look to move the mortgage will, again, only be mine. He currently uses one of my bank accounts but hopefully…
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buy to let whilst sharing equity?
I've currently got a mortgage on my flat for 70% shared equity. I decided to do this as I didn't have a deposit at the time of buying (first time buyer). I've been in the flat now for 2 years and my partner and I are thinking of moving to a bigger place next year. we'd like to buy a house without shared equity, but…
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early repayment charges
Hi all first time on here hope someone may be able to answer my query. I have had a fixed rate mortgage for 6 years and it was explained there would be early repayment penalties which would reduce each year however I have noticed that these charges are included each year in my mortgage not sure if I am paying interest on…
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Having ex evicted to take on the mortgage?
Hi Bit of a weird one this but I need some advice... I left my ex (not married) 18 months ago and he stayed in our joint mortgaged property. I am still on the mortgage with him purely because I haven't had the money to pay the legal fees to have my name taken off and to walk away. The property is just out of negative…
