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What would be the best mortgage to get?
Currently me and my partner are saving for a deposit for a house. we have saved £11k so far and are looking to save another £9k to cover the rest of the deposit and legal fees/charges etc. we have a joint income of approx £60k and this would be our first purchase and wondered what type of mortgage would be best to go for…
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Calculate staff mortgages
Hi All, Wonder if someone can help me with the following calculations; I am looking to see if a staff mortgage from a building society I work for will be cheaper than a non staff mortgage. To calculate the taxable amount on the benefit of the reduced rate, you do the following HMRC Rate - Staff Rate / 100 x Mortgage Amount…
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first time buyer
Hi everyone just wanted your thoughts on my situation. I am currently looking at buying a house through co ownership so would be 50/50 so the house is 150000 and i would be going for a mortgage on my own for 75000. I currently earn 31000 per year and have been in the same employed company for the past 2 years, what is the…
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CCj and Mortgage with Ex :(
I'll try and explain this the best I can, but needless to say i feel im at a dead end: I have been on my mortgage for 4 years, with my ex. He left 6 months into the mortgage and I have paid it alone ever since. He also left me in debt resulting in numerous arrears and 1 ccj (sept 2011) I have tried to sell the house and…
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RE: Mortgages
Hi I am in no position yet to buy, but as a long term goal want to own a property of my own. Can you tell me if you have recently applied for mortgage what is the amount the bank has lent you in terms of salary x. I am currently on £40K so wondered how much I would be able to borrow. ( Have got debts to pay off first - so…
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Nationwide FTB
I recently applied for a mortgage with Nationwide. I'm still waiting on the good news but I'm starting to worry as my credit report seems to be taking ages to update! On 28th march, I paid off a 2 credit cards & a loan. I told this to Nationwide who said it wont be a prob if I can prove I've paid them. My credit report…
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Woolwich New Buy scheme mortgage application
I wonder if there's anyone going through the same painful process as I am now I've applied for New Buy scheme via Persimmon Homes, mortgage broker prepared the mortgage application on 22nd March and submitted to Woolwich. Since then, it was supposed to be 3-5 working days for decision to be made by their underwriters. 5…
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Negative Equity... repossession
This is my first post here looking to a little guidance from im sure other people that may be in similar positions. I live in a 1 bed flat which was purchased at the height of the boom in 2007 for £147k. My current mortgage value is £134k and I am on an interest only payment plan at present. having lost one job since my…
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Broker needed to help get mortgage whilst on probation period
We've been declined an offset mortgage from First Direct (our first choice) and MHBS (who we have a mortage with currently) due to being in a 6 month probation period at work when the mortgage needs to start in August. We are moving house to tie in with job move - must happen all the time so seems crazy to be declined esp…
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MSE News: Building society breaks tracker mortgage deal to quadruple rates
This is the discussion thread for the following MSE News Story: "A group of Manchester Building Society mortgage holders face an unprecedented rise in home loan costs of £1,000s" Read the full story: Building society breaks tracker mortgage deal to quadruple rates
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Paperwork for mortgage advisor - FTB...all new to me!
Hi all, We've finally got our deposit together (woop!) and I've made us an appointment to see a mortgage advisor at the Britannia on Saturday. When I phoned to make the appointment, I asked about what paperwork we should take with us, but I got the impression the lady on the phone didn't really know....so I was hoping you…
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Mortgage Broker Recommendation
I can highly recommend Jonathan Darrell at "Mortgage Solutions Centre" in Cambridge. He is a superb broker, very friendly, has extensive knowledge of the market and has been very thorough in every aspect of finding us the best mortgage and explains things very well. If anyone in the east anglia area is looking for a…
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Mortgage maths question
Hello, I wondered if you could help with what might be a stupid question. I'm a first time buyer based in London, and my partner and I are looking to buy a 2 bedroom property. Our instinct is to look for a 2 bed terrace, rather than a 2 bed flat to give us some proof against drop in house prices and weather the long term…
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Does calling everyday effect your application??
This is probably a ridiculous question but as a FTB I'm learning new stuff everyday. Our 90% mortgage application is with HSBC so we don't have a mortgage broker and we don't have an advisor. Our full application along with documents went in almost two weeks ago and we are still waiting on a decision. Is it bad to call…
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SVR Rates
Hello, I'm a FTB and currently learning about mortgages. does anyone know how to compare SVR of banks in the UK? How can I find out which banks have more or less stable standard variable rates, or which banks change them on a whim? Regards, Simon
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Mortgage Assistance 90% (Pref)
Hi, I currently have a mortgage which was a together mortgage with Norther Rock, my property is now in negative equity and I am now married with a child since the original purchase. Im pretty stuck on options but the one I have is to rent my current property out and get a new mortgage to cover property I have done some…
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Cash from Remortgage
Hi All, I have a query around Remortgage.I am a first time buyer and bought my home in 2010. Now I am trying to understand the whole concept of - "Cash from Remortgage". While at a high level i do understand the benefits of saving money when you remortagage and switch providers but i am not entirely clear as to how one…
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Mortgage Interest Rate? sorry to appear thick !!!
Please can someone explain in simple English, how to calculate mortgage interest. Say I had a mortgage for £125,000 with the interest fixed at 4.5% how do I do the calculation to find the monthly payment????
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help please after declined
Just wandering if anyone could advise if it is looking realistic we would get a mortgage, after being declined on a joint application. We have a 10% deposit for a house for £98,000. We got declined, checked credit reports, I have a poor score (560) due to numerous searches. (salary 17500). Total debts credit card: 4500…
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Advice on Halifax Mortgage payment increases
Halifax (my Mortgage lender) wrote to me recently to inform me that they were increasing their SVR rate from 3.5% to 3.99%. I have a 55K mortgage with them, 50K on a fixed rate of 2.79% and 5K on the SVR rate. Until now I've been paying 356.38 each month on the mortgage. After recieving their letter I was expecting the…
