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Mortgage Valuations More Then Offer Price
How exactly do mortgage valuations work - We had ours done by Countrywide (who were instructed by the mortgage lender) and the valuer came back saying it was worth 10% more then we have offered Do the valuers know the price that you have offered or not and do valuers normally value property optimistically or not?
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London and County - Stay with it or re apply in person?
2 months ago we applied for a mortgage with northern rock through London and county paid fee and valuation fee. Valuation was done quickly and proof sent off, about 5 weeks after application we receive an offer £8,000 under our requested amount due to ‘affordability’. we were told to send off some more evidence by L&C…
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Feeling abandoned by Northern Rock
Hi All, Back in 2007, I purchased my first home using the northern rock 125% mortagage. Being 27 at the time and trying to do my independent thing, i was worried over bills and fixed at 6.5% APR for 5 years and opted for interest only. At the time, my property was valued at £123k. I was given a £120k mortgage with a £26k…
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Mortgage on Temp Contract
Hi there first time poster. Me and my Fianc! have a £30,000 deposit and we can get a house for £165,000-£170,000 based on our min wages, the only problem is i am on a temp contract, will the banks allow us to use this temp contract for myself and fianc! on a perm contract to get a mortgage? If i do loose my job (which is…
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Advice re swapping one fixed rate for another
Please help, I am confused as hell. Current mtg - £154000, paying 5.69% fixed for another 1yr 10months. ERC at present £4600. Current payment (int only) £728. Other deal - 5yr fxd 3.69%, £999 fee, free legals and val. Int only £485, repayment £884. Can afford the £884 and want mortgage to go down! But by doing this we are…
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Wanting to move house as a mature student with an exisiting mortage
We have an exisitng mortgage and are planning to move. We have never missed any mortgage payments and have a very small mortgage that we will reduce even more when we move. We have a buyer and have found a property we like. We thought we could move our mortgage but because my husband is a mature student we have been told…
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Gifted Deposit
My partner's parents are giving us £15,000 to help us buy our first house, £9k of which will form the deposit and the rest will be used for renovations. They don't want this money back. When we spoke to our broker and told her this she just said 'OK' - no mention that a letter from them will be required stating they have…
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question on re-mortgage
got a mortgage out at the moment had it about 5 year. the 1 i got is about 20,000 grand less than the full house price (got a deal ;) would the same company im with let me up the mortgage by 10,000 as its the cheapest out there still in stead of switching to another company. if so would there be a lot of fees?
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Advice for my Dad
My Dad will be turning 60 shortly. He'll have around 70-80k cash in pension advances and owns his current house outright (value tbc but my guess is £220k). He's planning to keep working for another year or two (can take his pension at the same time), and then move to be nearer me. He'd like to buy a house in my area…
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What to pay back first to secure mortgage.
Hi, first time on this board....so play nice please, it will be obvious to all i'm not financially savvy. Ok, so, I'm thinking it's time to get on the property ladder. I'm getting too old and so need to be making a move in the next 12 months or so. May use a home buy or other type scheme, but I digress. I've been rubbish…
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ITL Mortgage rate going up and up every quarter
Wonder if anyone can assist me on this... I've got a mortgage with ITL mortgages and every three months they write to me and tell me my new mortgage rate based on the LIBOR rate.... For the last 30 odd months we've had a low interest rate in this country - but my mortgage rate keeps going up each quarter (not by much).. my…
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Certified copies
I have to send some certified copies to the solicitor for my remortgage, (Identification and marriage certificate). It has to be certified by a solicitor or bank manager. The remortgage is with RBS Can i just drop into a branch of RBS to do this or would it have to be my own bank which isnt RBS? Would I need to make an…
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What is my "First Time Buyer" status worth?
Hello Experts, I was just wondering what the status of being a first time buyer is worth? I am looking to buy my first home - but as I'm sure you are all aware, there are many aspects to take into account. I'm going at it on my own, so paying the right price, for the right house is essential. Being a first time buyer,…
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First time buyer looking for advice!
Hi, this is my first post and with reading through the forum I thought i would look for some advice. Me and my girlfriend are visiting a mortgage broker for the first time this week and this is obviously an exciting time for us but we are also a little nervous as it is a step into the unknown! My main concern is whether or…
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Lender has lowered rate since offer
I'm about to purchase my first property. My mortgage offer was made a month ago and I'm about half through the conveyancing process. However, since the lender made the mortgage offer they have lowered their rates. Although not it's not a huge amount (0.2% drop = £20 on the mortgage) I'd rather have the money in my pocket…
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new house, what mortgage?
Hi, I've a question re-second home purchase. I know if you buy a second one, you need a BTL (please advice if there are altentatives). But what happens if, let say I find a new one that will be my first accomodation, I've got the deposit and affordability for the second purchase. The idea is that I will sell my first…
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borrowing money and letting my house
Hi We have an opportunity to let our house and move into a relatives house. The new house would be signed over for inheritance purposes to us but we would need to borrow money to build an extension. How do I borrow this money (£100, 000) when there is no mortgage currently in existance on the new house.? Do I need to take…
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DWP Mortgage payments
I've joined this forum because i'm trying to find out some information and i just cannot find it, so i wondered if anyone here can help me. 3 months ago my father died and since then i have taken control of the business and bills and payments etc. This week i received a phone call from santander saying that my mortgage…
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Change of employment + NR Together unsecured loan as future deposit
Hello, Two queries, we'd like to move house if we can find a buyer. Things don't look great with 3 sales listed in the nearest 300m on nethouseprice, but if we can get near what the agents are telling us we can happily move. Question 1. My wife is currently on maternity leave and gets Maternity Allowance until December.…
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Moving - Deposit help!
Hi all, To briefly explain I bought a flat just over a year ago of which my family helped fund a larger share of the deposit. I'm now looking to move into a house with the girlfriend but I need my deposit share, possible even a little bit more to fund it. Is there anyway around this without selling the flat? In an ideal…
