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RBS - need two years account for extra borrowing
Current outstanding mortgage is £125K, house is worth £230K. RBS wont lend me £10K as extra borrowing because I dont have 2 years accounts to provide. (I'm an IT contractor). Pretty short-sighted since I guess if I was a permie on £30K they'd be happy. Even though I could be made redundant tomorrow with zero comeback (been…
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Fee/No Fee & Varying IR's - Which is best?
Hi, From the three mortgage options below with varying fees and interest rates, how do I work out which one is cheaper in the long run when borrowing say £100k over 35 years on a 5yr deal. Mortgage A Interest Rate: 3.99% Fee: £999 - Added on to mortgage (Borrowing £100k + £1k fee = £101k) Term: 5yrs Mortgage B Interest…
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Remortgage and Buy to let. Advise required.
Hi, first post on any forum ever so take it easy on me. Mortgage is up for renewal. £145,000. House value £230,000. Income £42,000. minimal savings. £0 Debts. Normal household outgoings. Potential £70-90k buy to let. Please could anyone give me some advise, id like to remortgage my house and potentially purchase a buy to…
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Endowment policy
We initaly had an endowment policy then 13yr later we seperated. I stopped paying the endowment and remortgaged. Can i claim any of that endowment back
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HALIFAX MORTGAGE...why would i NOT fix...
hi all, i have been enjoying the SVR with halifax now for over a year, but now the SVR is going up to 4%. my house is worth 120k and i have 77k left to pay. from looking at their website i think i can get a 2 year fixed for 4%....is there any reason i should not fix, i cant see the SVR going back down anytime soon. any…
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how generous are post office valuation?
A home buyers survey and valuation is being done on a house we are buying in west london. Mortgage is through post office? Does anyone know, in general how generous are their surveyors in valuation? also, if the valuation comes in at less value, can i do anything other than renegotiating the price or taking a chance with…
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5% vendor gifted deposit scheme
Hi all, Me and my girlfriend are looking at purchasing our first house and wanted some advise on the 5% vendor gift deposit scheme. We are looking at a house for 137k (not a new build) and want to try to get a 15% deposit to get the best interest rate possible. We currently have 14kish for a deposit and wondered if a 5%…
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Negative equity in Northern Ireland
Can anyone else in my position suggest how we can lobby our MLA's to help us with the negative equity which effects a quarter of all house loans in Northern Ireland since 2005. My partner and I felt we had better get on the house market and bought a small property for £170,000 when prices were escalating at unbelievale…
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5yr Fixed ending in May... House Value decreased... BIG TIME
Hello all, So 5 years ago after a 9 month long battle we finally found our house, and paid £177,500 for it (which in hind site, was well over, but the market had rocketed between us selling our flat and buying our house, so had no choice) because of the increase costs we choose a interest only mortgage (£160,000, with…
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65% increase in rate
I work for a bank which also offers mortgages. As part of my benefits I get a staff rate mortgage which is 0.7% less than the standard variable rate, which is currently 2.99%. The bank intends to increase its SVR by 50% in the next six months, from 2.99% to 4.49% This means my rate will be going from 2.29% to 3.79%, an…
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Nationwide - BMR or a Fixed Rate deal?
My 5 year fixed rate (5.18%) mortgage with the Nationwide is coming to an end this month and I need help to make a decision whether to revert to their Base Mortgage Rate which currently stands at 2.5% or take up their offer on a Fixed Rate deal! Their fixed rate offer which suits me is a 2 year Fixed at 3.69% with a £400…
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Will anyone give us a buy to let mortgage & second mortgage?
Forget it, helpful advice? It won't be found here.
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Mortgage advise re. Bank accounts
I am considering getting my partner to transfer all her banking to my account and setting it up as a joint account. This is because it will be easier to manage our finances and save more. I was wondering if anyone would advise against this? We are looking at buying in about 1 - 1 1/2 years. She has had her account for…
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CeMAP exams
I am 17 years old and I'm looking to start a CeMAP home study course with IFS. It's going to cost around £700, I see this as a way of entering the jobs market in particular meeting the requirements for banks where I may get further training. Does the cost sound about right and what can I expect in terms of further…
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Are we making the most of our overpayments this way?
Hi Our mortgage rate has just dropped into the C&G variable rate of 2.5% from 5.1% after 5 years fixed. It is, incredibly, fully flexible in terms of how many overpayments we can make or changing deal should rates rise too much. So although our monthly payment should drop to about £1100 from £1400 we have asked C&G to…
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NRAM porting mortgage query
Weve made the application already, just wondering if anyone has successfully ported a mortgage on to another property with a poor credit history (ccj and charging order) but perfect repayment mortgage history all on time none missed and no holiday payments. Outstanding balance 90k. Property valuation £80-£85. Potential…
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Which mortgage deal advice.
Hi all, hoping I could have some sensible advice from you all. Looking at moving house, our house is in the process of being sold. We will have about £44,000 deposit and looking for a house at max £220,000 so 20% deposit. Our monthly income is £3100 with no debts but paying our car off £200 a month which comes to and end…
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Mortgage Express 2.5%
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First Time Buyers
Hi, We are going to see an independent Financial Adviser next week but been reading the forums and guides and thought I'd post to see what people's thoughts are on our circumstances... We are both in full time permanent employment with a joint income of about £40,000. We have debts totaling £14,000. We have £10,000 deposit…
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Mortage AIP
I am about starting to buy a house/flat but I am totally new on this. I was advised by one of my friends to get an Agreement in Principle before going to the estate agencies. Is this the common approach? Regards to AIP, does it matter which bank I go to? does it cost you anything and how long does it valid for ? also I…
