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Whats my best option? Transferring mortgage
Hello, I need a bit of advice as to my best move, in your more experienced opinion. I currently own 1/2 a house, my mum owns the other half. Currently it's rented out as a house share. For my part of the house, I took out a £125k mortgage 7 years ago, and have 10 years left. I think I've paid back around £35k of the…
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Santander Offset Mortgage - FSA protection?
I have called Santander and they have told me that if anything were to 'happen' to them then my offset savings would go to pay off my mortgage and I would not get any protection from the FSA. I have read elsewhere that the FSA covers £85000 per person of savings even in an offset situation. Does anyone have the correct…
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First Direct Mortgage affordability calculation
Tanken from reviewcenter. "Mortgage affordability calculation" "To assess whether or not an applicant is capable of repaying a First Direct Mortgage, they calculate your monthly payments on an assumed interest rate of approx 8% (regardless of the actual variable / fixed / introductory rate they offer)and then calculate…
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When to make mortgage payment?
Hi, I've just moved into a new property as first time buyer with a mortgage. I'm just wondering what the best date for making my mortgage payment is from the point of view of interest calculations. At the moment it's set to the 20th of every month, and the person on the phone at the mortgage lender (Accord) suggested that…
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Overall cost and Actual cost
I'm looking to remortgage and have been comparing products on money supermarket. I don't understand the difference between overall cost and actual cost when filtering the results because some products have a lower overall cost and some have a lower actual cost. Which is more important? I'm sorry, it is probably a stupid…
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No mortgage, big debts
Hi, this is my first time on here. My situation is this. I currently own my house outright (hence no mortgage), but I have debts of about 65K. the value of my house is about 300K. How do I go about getting a new mortgage to pay off all my debts and start afresh? Also this means my credit report will also improve. i have…
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Can you get Interest Free Mortgages without an Endowment..? Yeah..I mean it !
Hi Everyone.. I am a 49 working girl but divorced and mostly... skint... :j But I have savings of £9000 and pay £800 rent. I was wondering whether I could buy a place with an Interest only mortgage....and NO endowment..? I am nor fussed about owning the property when i am dead and gone..! So, the Mortgage guys can have it…
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The solicitors are the worst
Just a rant against solicitors. Had our offer accepted in mid-feb. Mortgage was offered by the bank in 2 weeks. Since then it's been the solicitors whiling away time. I am first-time buyer, so I dont have the experience that many of you do. Would love to hear about your experience, and any suggestions to move things along.…
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HELP! Shared ownership remortgage nightmare.
Hi Guys & girls, I am new to this forum - But have been meaning to join for years as I often come on here for friendly advise from others questions.. I bought a 25% share in a property 5 years ago and now I would like to buy the remaining share of 75%. My flat is worth £69,000 now (It was £89,000 when I bought the 25%…
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Accord Mortgages - any experience asking for permission to let
I have posted a few times about the issues I have selling my house at the moment. I have had to move to another area of the country, so am renting as well as paying my salary, and these costs come to 65% of my salary, so can't be sustained. I have a couple who are interested in renting my flat on a short term basis until…
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Mortgage and bad credit....another case!
My husband and myself want to buy a house - we're old first time buyers (both late 30s). My husband had a loan with the Abbey which he defaulted on, and was subsequently paying off to a debt collector. After paying off 2/3rd of the loan, in 2009 he was made redundant and they were getting aggressive so he sought debt…
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Mortgage 23% LTV
Hi, This is a really a question for those mortgage brokers that frequent this board. I will try and keep this simple....I am administering a rather complicated probate, one part of which involves a legal settlement with a 3rd party. The 3rd party lives in detached freehold house worth circa £330k. There is currently a…
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Transfer of Equity and Santander
A bizarre scenario...some thoughts please. I have just divorced and own a house jointly with ex. I want her name off the mortgage(and so does she).Outstanding mortgage is £35000.House value is £180000. My income well exceeds mortgage payments. Santander have declined to transfer equity(even on appeal). I have a settled…
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what to do now
what to do now next month is my last payment of my 5 year fixed rate with woolwich i was on a 5year fixed at 5.99 woolwich have told me that after next months payment if i do nothing i will go on their lifetime tracker that tracks the base rate by 0.95 so it will be 1.49 they said i can go on lifetime tracker or sign up on…
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FTB - Will we get a mortgage?
Hello. This is the first time I have used the forum so apologies for probably repeating what has been asked thousands of times before on here. Anyway... My girlfriend and I are hoping to buy our first house in Scotland the new few months. Our situation - Me - 35,444 pa My CreditExpert rating is only 780 (I had late…
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What is the point of vendor gifted deposits?
I'm sorry if this sounds silly, but I don't "get it". I can understand why a family member would gift a deposit to help a loved one buy a house, but why would a vendor do this? Why don't they just reduce the asking price instead? Or is it just another method by which our country keeps house prices artificially high?
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Money for France, how to
Hi All first time on the forum, need some advice i have been offered a share in a property in france, it is mortgage free and in a good state of repair. I need 20k to buy in, what are my options for getting a mortgage or unsecured loan I am self employed as is my other half. any advise would be helpful cheers
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Building society have set up DD
I am still waiting on confirmation of my mortgage, but I have noticed that the building society have set up a direct debit from my bank account, no amount, term or start date as yet. Is this normal for the lender to do or does mean that there is more of a chance of the mortgage being agreed (it is with the underwriters and…
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Low Income Mortgages
Hi all, I'm looking for a mortgage as a first time buyer, I have a deposit of 25k but am only on a salary of 16k. To get a decent house in my area I am looking to spend around 130k. So the problem is I need a morgage of £105,000! I have phoned a couple of banks and the most they are willing to lend is about £75,000. Has…
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Can I buy part of my Dad's mortagaged property?
Hi all I was wondering whether anybody had any information/advice on this. Basically my dad owns a mortgaged property. He has quite a large garden and we have discussed him handing over/part releasing some of the land so that I can build my own property on it. At the moment he does not own the freehold (but has been…
