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Getting a mortgage with a PhD?
My boyfriend and I would like to get a joint mortgage. We have a good deposit but he only earns about £16000 before tax, and I'm on a PhD stipend of £13000 a year tax free. The problem is, only his wage will count, greatly reducing the properties we could buy since the highest amount we could borrow would be around £60000.…
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Credit Scoring Query
Hi Everyone, I have recently paid off my credit card (offically debt-free :beer: but not for long :( ). I and my partner are FTBs and are at the beginning of the long journey. My query is that although I have no outstanding credit, will the credit available to me (£2500) go against me in any AIP/mortgage application? I can…
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Mortage search on Credit Report
Good morning, I am a first time buyer with a previous history of bad credit. I went to see a mortgage broker who applied for a mortage through Nationwide which i knew would be declined, since then, two more searches for first time mortgages have appeared on my file as 'First Mortgage Search'. I had heard that having more…
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Self Employed Mortgage
My partner and I are both equal share (50% each) directors of our business. Last year we took on new premises and invested fairly heavily so only showed a low net profit of £5000. We own our home outright and wish to make some improvements so would like to get a mortgage for £50k. Our annual accounts state that our salary…
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Credit check at completion
Hello, I have got a mortgage and I am due to complete next week. When I got the mortgage I had a credit score of around 850. Last week I bought a sofa at dfs, to pay in 4 years interest free, and checked my score now and it has dropped to 770, and as the house we are buying is new, I am spending some money in my credit…
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I've got bad credit but my wife hasn't - can we get a mortgage?
Hi there I got into £25K worth of debt about 4 years ago and have spent the last two years living a reclusive life in order to completely clear them - it feels great to be debt free at last. Unfortunately though I picked up a couple of defaults along the way and my credit rating is now pretty poor - I am unable to obtain…
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Poor Advice
Wondering if someone can advise. About three years ago our financial advisor said we should go with a new fixed mortgage with the Halifax which was about 6.09% or something like that. That meant our mortgage was up to £454. I just got a letter from the Halifax (no word in the following years from the advisor) telling me…
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Noobie looking for a Mortgage
Been looking around the forums a while and thought i would finally post to get some advice. Looking to get a mortgage on a property for £215,995 with a 60k deposit. my earnings are 23k and OH £19. Our credit ratings aren't great hubby had a default Apr 2010-£700 and i had one in Dec 2009-£450 Both payed off in full. I have…
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Divorce: Mortgage transfer
I'm not sure if anyone can help me but just after a bit of advice... My husband and I are getting a divorce which, so far, has been amicable. I am living in the house which is on the market for OIEO £210k with three weeks left on the Estate Agent Contract. We will need to sell for a minimum of £207k to cover the mortgage &…
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Increasing existing Halifax Mortgage to purchase 2nd property
We finished building our new house at the end of last year, it's currently valued at £350,000 with a £37,500 interest only mortgage with the Halifax. We're interested in buying a property nearby with a view to renovating and then renting - we would need to borrow circa £135,000 (if I did most of the work myself) which…
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Not on the electoral roll... disaster?
Hi all. So it turns out that my housemate didn't add me when filling out the electoral roll form... I went to the council to get myself added and as I have missed the last deadline, I wont be registered till December. As I am currently trying to get a mortgage, they said they could provide a letter to state that I would be…
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Question about portable mortgage and LTV
Hi, i'm just wondering, I know my mortgage is portable so I could for example take my existing nationwide 160k mortgage and rate to a new house. Would the new property need to be the same LTV? Or could it be 100% and be OK? My situation is that I bought a 193k house a year and a half ago, on a deal where I pay 5% deposit,…
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refused port on shared equity
Hi I bought a new build apartment for 99950 back in march 09, I had it on a shared equity (75/25) I had a 100% mortgage for the 75% on a five year fixed mortgage. The 25% was off set for ten years and then to be added to my 75% or to be paid when property is sold. I now want to sell up and move into another shared equity…
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Mortgage Renewal
Hello, I've been reading these forums for a while, but never signed up until now. This is obviously my first post, but I'm hoping that I will be able to learn a lot while I'm here. I must admit, I am in the process of learning about mortgages, never considering that I should be paying it off faster than expected, and just…
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Question re AIP from Abbey
Hi everyone. We have an AIP from Abbey for the amouont we need to borrow. My question is, does anyone know when or how the Abbey do their credit checks etc? Before they issue an AIP or after? I have heard somewhere that they do them before the AIP is issued. The reason I ask is we are in the process of buying a house but…
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Moving house to reduce my mortgage...
I'm really just using the forum to sound off so I do apologise! Having gone through a divorce and managed to buy my ex-husband out I decided the time was right to down size and move myself and my two little boys to a cheaper house and thus reduce my mortgage. To my absolute amazement Barclays/Woolwich have declined to let…
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Nat West....so slow !
Hi my first post here. I've recently applied for a transfer of equity on the matrimonial home as my wife and I have split over 15 months ago. She has continued to live in the home with our two teenage children, but is now moving on, so I am trying to buy out her share of the house. We've agreed a price and I have begun an…
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Can't afford this months payment
Looking for a little advice please. I am really struggling for cash this month as my patner is changing from student to employed, no bursary and no income until end of next month so only my income. I am with Skipton and my usual payment is 575. If I phone them and say I can only afford 300, what sort of reception can I…
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Recommend a good solicitor for deed of trust agreement?
We're first time buyers with a complicated trust agreement and we're having trouble finding a solicitor to deal with it. And we're three weeks out from completion. We would very much appreciate if someone good recommend a *good* solicitor to advise us on this matter. Our first solicitor kept pushing us to go with a…
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Remortgage affordability question
Coming up to remortgage early next year and I really need to remortgage as current rate is 10.17% due to previous poor credit. My credit file is all clear now. The reason I am posting is because some online mortgage affordability calculators have confused me. I am not sure if I should include my wifes earnings or not. She…
