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variable interest rate on mortgage arrears
I've come across this today ... I paid a lump sum of £2,000 a few weeks ago towards my mortgage arrears. However, the interest on arrears is more this month than last month, even though they're now £2,000 less. I enquired about this and was told that arrears are on a variable interest rate which changes, capital is on the…
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Does he have a case?
A mate of mine wants to complain about his mortgage being 'mis-sold' though I've suggested (not what he wants to hear) that he's not got a leg to stand on. He took out a 100% interest only mortgage in the late 90s and is now in financially difficulties. He cancelled the direct debit to his endowment barely a year in…
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Overpaying vs emergancy cash
Hi there, Wondering if anyone has any views. I've currently got a 5 year fix mortgage with about 4.5 years until the deal period runs out. I pay about 1k a month on the mortgage, and I am allowed to overpay by up to £500 a month. Now, since I bought my property I've done the sensible thing and saved a few quid in case of…
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Bit complicated
I would like to move to be closer to my elderly mother but like most would have great difficulty selling in the current climate. My house is worth about £125000 with £10000 outstanding on the mortgage. I am 61 , with State and private pensions totalling about £10000 per annum. I also work on a self employed basis earning…
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Mortgage co will not give me a deal
Hi all, I am new to this so please bear with me....... Right, I have had a Mortgage with Abbey (Santander) for over 9 years now and have always got a new deal when my current has expired. We always get 3 years fixed at lower rates then the market and are happy to do this. We have now finished our current deal but the Abbey…
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Mortgage co will not give me a deal
Hi all, I am new to this so please bear with me....... Right, I have had a Mortgage with Abbey (Santander) for over 9 years now and have always got a new deal when my current has expired. We always get 3 years fixed at lower rates then the market and are happy to do this. We have now finished our current deal but the Abbey…
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Overdraft influence on mortgage application
Hi, After my query relating to credit cards I now have one relating to my overdraft. I have a £2,000 overdraft facility with my current account which I am almost permanently using. Will this be detrimental to a mortgage application? Thanks in advance.
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Natwest 2 year fixed-rate NewBuy Scheme - anybody know anything about this particular
Hi as the title says does anybody have any helpful information on this mortgage? pros or cons etc Thanks
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95% mortgages where to start
Hi all, me and the girlfriend are hoping to get a mortgage together soon as we have a baby due in december, but are unsure on our chances of getting one. We only have savings of roughly £5000 and would be looking at getting a mortgage of somewhere between £100,000 - £120,000, I realise that alot of banks still want 10%…
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Missold Halifax Mortgage?
Hi, I have been a Halifax customer for 15 years and had always had a mortgage that I could port across to a new address. In 2009 we were considering a downsize, My fixed rate deal was due to expire in July that year. In June, we spoke to Halifax to consider our opitons and was told that when we come out of our fixed rate…
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Mortgage advice please
Hi, We currently live in an apartment, worth £100,000. I own it outright. We need to move as we are expecting a baby. I earn £21,000. However, I have £100,000 behind me in the apartment, plus a deposit of £16,000 Ideally, I would like to rent out the apartment. This would mean, I would need a mortgage £150,000 My credit…
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Clydesdale Mortgage - Query
Wanted to reach out to anyone who has made an application toClydesdale or is familiar with Clydesdale mortgages, and get some feedback. Clydesdale have a strange application process with no AIP,and I wondered if anyone can tell me whether my application getting to the stagewhere I pay for a valuation on the new property is…
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Credit score
hello all, Not sure if this is in the right area but here goes. We are trying to get an AIP for a new mortgage but our adviser keeps getting a no, he said our credit score was too low, which I couldn't believe. I have now done an Equifax report and score and he is correct, it is still in the excellent range but only just.…
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Can anyone advise the best thing to do regarding applying for FTB mortgage
Hello all, This is my first time posting on a forum but I have been a long time lurker so please forgive me if I ramble on too much! Am just after some advice regarding mortgages for first time buyers, here is my situation: Been with boyfriend 6 years since 2006, living in rented accommodation together for five years at a…
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Newbie - In a bit of a mess !
Hi, I wonder if anyone would be good enough to give me some advice? I am self employed with a net wage of £7500 p.a My mother passed away and left a £90,000 house to me and my brother. Currently, I am buying his share of £45,000 out. So far I have paid him £35,000, on a monthly basis from my salary. To do this, I have used…
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Please help an idiot
I feel totally stuck and desperatly unhappy, and any advice you could give I would be so grateful. Back in 2003 I brought a Barratts house with my partner, it was my first house but his 2nd. We wanted to use the same solicitors to sell his house and buy the new one, but got told by the Barretts sales lady we had to use…
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NRAM broke Mort holiday payment! Advice?
Reposting this here as it's now become a different problem than my original thread under reclaiming: Arranged a mortgage payment holiday for July/Aug with our mortgage provider NRAM. They took the money out yesterday anyway leaving us short for the month and causing several DDs and SOs to fail in the process (and charges…
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What is an SVR?
What is an SVR - I asked the same question:- An SVR is the default rate that most mortgages switch to once an initial fix or tracker deal period ends, and unless there is a cast-iron clause preventing it, lenders are free to raise them at any time - independent of the Bank of England base rate... I believe something to be…
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Advice re step-daughter taking name off mortgage
I hope someone can advise re this situation that my step-daughter has found herself in please. Her mum advised her to put her name to the mortgage for a house she bought my partner out of a number of years ago. She did this at the time and my partner thinks she is on the deeds (though is not 100% sure). Reading between the…
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What to do first when thinking about getting a mortgage
Hi all, me and the girlfriend are hoping to get a mortgage together soon as we have a baby due in december, but are unsure on our chances of getting one. We only have savings of roughly £5000 and would be looking at getting a mortgage of somewhere between £100,000 - £120,000, I realise that alot of banks still want 10%…
