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Am I classed as a 1st time buyer??
Hi all. I have had a 25% ownership of a property in conjunction with a local housing association, started in 2005 - ended in 2008. Does this small mortgage rule me out of the first time buyer bracket? I am currently looking for a joint mortgage wit hmy wife. The reason I am asking is my mortgage advisor / broker said I…
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mortgate calculator with rate reverts
i am tryting to find a mortgage calcualator that takes into consideration of the rate the mortgate it reverst back . i did find one but now i cannot find it. ie. the 15 year hsbc one 2.99 5 year fix with 1499 fee that reverts to say 3.99% after. so years 1 - 5 @ 2.99 years 5 - 15 @ 3.99
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FTB Increased Deposit after Valuation/Survey.
Afternoon all, Im trying to buy a house with a family member. Were both first-time buyers and jointly our salaries are 75k a year, we've found a house and have had the offer accepted at 295K. We had an application for a mortgage with Nationwide accepted in principle with a deposit of 10%. Two weeks ago the valuation and…
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Minimum employment time for mortgage
Hi Hope someone can give some advice. Me and my partner are both young as 21 and 22. We were wondering what the minimum amount of time in employment would be, 12/24/36 months of continuous employment etc? Also anyone around that is young that has been successful in gaining a mortgage? Hope for some help and to hear from…
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Needing a Mortgage Broker, problems...
Hi All Firstly please don't judge me on my other threads, I have a lot of things on the go at once and find a wealth of information here. Ok so I am currently a 25% shared owner, have a mortgage with Halifax at the standard variable rate. My mortgage was for approx 44K and I think the balance stands at 37K (ish). So…
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First time buyer - Looking for a 100% Mortgage
As summed up in the title, I am fed up of renting and spending £1,200 per month on what should be going towards my own mortgaged house. The only trouble is, and a big problem at hand, I have no money to put down as a deposit! I heard a while ago that there were some government schemes to encourage first time buyers to…
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Problems Removing Ex-Wife From Mortgage
Both my ex-wife and I owned 2 properties, each property was in both our names. When we got divorced, one property went to my ex-wife and the other to me. The wording of the legal documents stated that each of us would use our 'best endeavours' to release the other from our mortgage. This was 4 years ago. A few months ago…
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PPI cover and ownership - what did you go for?
Hi, Now that the mortgage product has been chosen, I now have some other questons I would like to pose: 1) I know it all depends on your attitude to risk, but how many people here would recommend: a) Life cover. b) Critiical illness cover 2) Ownership with partner: Do most people here go for joint ownership (ie both own…
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Tracker/variable that 'does not go down/ follow base rate
Hi. My wife and i were recently discussing our 1st mortgage options with financial advisor... We were tempted with a 2year tracker mortgage at 3.29% =£414 per month.. But it wasn't until I read over the details that I discovered that even should the bank of eng base rate go down, the rate offered does NOT "go below a floor…
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Northern Rock Together Mortgage - moving to another lender
Has anybody else got any experience of this? When I took out the together mortgage in 2007 the broker told me that I could move to another lender after the fixed rate period, but I'm having problems with this due to the unsecured part. This is what I owe: unsecured: £10100 Secured: £57800 Flat was valued at £72k so I have…
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First Time Buyer
I'm very close to looking for my first mortgage. I'm just waiting for the right time to sell some shares and I will have a decent sized deposit. The properties I'm looking at are about £240k and hopefully I'll have a 95k deposit. My salary is only about 27k though which could cause difficulties getting the loaned amount I…
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What to do with savings?
I'm starting to think I've made a few bad decisions regarding my financial future so any advice would be appreciated. I bought my house in Oct 2009 at a cost of £110k with a 25% (£27,500k) deposit courtesy of releasing equity from my parents home. This loan has a 6% interest rate. My parents house is currently valued at…
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Advice please
I received a letter today stating that my mortgage is rising at the end of the month from 1206.31 to 1381.00! I have 58,000 left on the mortgage with 9 years and 1 month left. This is a joint mortgage with my ex. I haven't lived there for approx 9 years but kept the house in joint names as a investment. My current partner…
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Fixed or variable? Interest rate change???
Hi Like the masses very confused over mortgage. I have seen an attractive 5 yr fixed at 3.69% (overpayments upto 10% pa). In comparison I have seen a discount at 3.69. Which woudl you go for. Intending to overpay about 10K a year. Like the security of a fixed. Like my savings in interesting places like premium bonds,…
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1st mortgage advice
Hi all, As the title says this is my wife and I's 1st mortgage. We have alot of questions regarding our choices but will ask one at a time.... My first question is IF we were to choose a 2 year fixed rate at 3.55%, and the time comes to re-mortgage, Do we have to pay ALL the fees again?? :( Fees such as : Arrangement £ 900…
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What is my "salary"? Also general advice appreciated
That might sound like a stupid question! I want to know what a mortgage provider will consider my salary to be. My basic salary is £35,950. I get a bonus which varies between £2,000 and £4,000. On top of that, I get RSUs each year which vest at 25% a year. At the current share price is about £18,000 a year. Both the RSU…
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BTL mortgage
We will have about £30-35K left from the sale of our Spanish house after spending on both our own house and our son's flat. We have no mortgage nor debt. We have other savings totalling about £20k. Round here you can buy a decent two-bedroom flat in a nice area for under £90k (our son's was £65k). You can buy a terraced…
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santander/alliance & Lec change in additional lending rules
I have an Alliance & Lec mortgage which is 50% repayment 50% in only . House is worth min £250000 and mortgage 80000.. Called to ask if I could take additional loan of £8000 and add to 11 years left of repayment but was told that this was not possible unless I change whole mortgage to repayment! This would be fine for us…
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Mortgage Credit Check....
Hi folks, Hope someone can help/advise! I am in the process of applying for a mortgage. I get my credit report monthly and have been given 4 out of 5 stars for the last couple of years. However today I received an email alert asking me to login and check my account. On logging in, I saw they have reduced it to just 2…
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Escape From My Mortgage
Hi there, I've been searching for help around the web and MSE seems to be the most knowledgeable! So.. I have a mortgage with my ex on a property which was originally 121K which has decreased in value by around 20K. I left the property roughly 4 years ago and it is currently being privately rented through an agency. We…
