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Mortgage with no deposit for less than house value?
My dad is wanting to sell his house to me. Currently we don't have anywhere near enough saved for a 10% deposit. This is my first time buying a house, already spoken to the bank who have given me a mortgage promise of up to £86,000. For talking sake, say the house is valued at £80,000. Dad says he would want £60,000 for…
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Halifax Uncompetitive
Hi, Why are Halifax remortgage rates so totally uncompetitive? They have not been in the best buy tables for years. Also, they put up their SVR to 4.00% recently citing higher wholesale funding costs but are not reducing it back down in light of a) funding costs coming down b) Govt initiative soon to give banks more cheap…
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Mortgage on a new build that won't be completed for 8+ months
Hi all, Long time reader but have just signed up to get a bit of advice as I'm getting really conflicting information from brokers and IFA's. I'm 22 and a first time buyer. I have reserved a plot on a development that won't be ready until the "end of March" however the developer wants to exchange contracts within 28 days.…
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Surrender Endowment?
New to the forum, wondering if anyone has any thoughts on this: Aviva endowment finishes August 2016. Target amount £12850. Current surrender value £8112. Received £880 for miss-selling. Future payments to maturity £2300. Projected values: 4% £10800, 6% £11400, 8% £12200. MEP doesn't apply. Thinking of surrendering policy…
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Mortgage credit search question.
How long does a mortgage credit search take to show up on your credit file? I have been accepted for a mortgage yesterday yet there is nothing to show this on both experian and equifax. I know that some credit searches are almost instant, as i have checked before when applying for hp and credit cards, yet nothing is…
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ERC's delay between selling and buying new house
Can anyone assist? We are in the process of accepting an offer for our property which has been on the market for some time. Unfortunately the buyers are insistant on a quick sale otherwise they will go elsewhere. Rather than lose the buyer we have thought about selling our house renting for 3-6 months and then buying our…
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mortgage fairness
we have just been turned down for a mortgage after passing all criteria due to having a dmp,considering they charged us £395 to apply which we have lost ,i feel really fed up ,we have been in dmp for nearly 6 years which was not helped by a rogue mortgage advisor,we have spent the last 6 years paying our dmp ,we sold our…
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How much can we borrow?
Hi, We're hoping to move house either this year or next so I'm just wondering if anyone knows how much we would realistically be able to spend on a new house. From the sale of our house we would hope to make 20k min 30k max profit so lets say 25k. Plus a few thousand in savings. I earn 34k per year plus overtime my partner…
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Mortgage for 2nd property - overseas
I've had a quick search in MSE forums, but definitely need some advice & guidance on this. I am a UK mortgage homeowner, I live and work in the UK. I am considering purchasing an overseas property as a 'retirement plan' but appreciate that in order to do this, I will need to derive rental income from it. The property is…
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Re-mortgage update
Posted ages ago about a negative equity problem and re-mortgage ideas - followed the advice (thanks Thrugelmire especially) been through the process and got two free valuations for re-mortgaging purposes and we are indeed sitting on roughly 109% LTV:eek: Having got nowhere with anyone, our current lender has with our good…
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Mortgage acceptance question.
Today i applied and recieved a mortgage offer. My question is this, now i have my offer i have put in an offer for the house i was looking at and it too has been accepted. Since the mortgage offer still has the whole proccess of a full application to go through but since i have had the morgage promise from the bank i…
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Mortgage Retention Query
We've just been told by our mortgage advisor that it is likely our lender will take a retention from the value of the mortgage for the value of the works recommended - i.e. damp proofing, possibly replacing wall ties and some masonary repairs. We're awaiting quotes for the work needed but just say the price comes back at…
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Can i get a mortgage with no deposit?
Hi, is it possible for me to get a mortgage with no deposit? Stu
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overpaying more than 10% a year
a lot of lenders have this limit, but i was wondering, could you put your overpayments in a savings account and wait until you can re-mortgage (once your fixed deal is up) then make a lump sum payment in between mortgages? for example your mortgage is 100k, you save 20k in 2 years, could you then re-mortgage for 80k and…
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Remortgage self employed!
Hi We have been trying to sell our property on and off since 2008. We started off as shared ownership 12 years ago. We now own the whole property but had to double our mortgage to do this in 2010. My husband was made redundant twice in the last 4 years and was forced into self employment. He has been self employed for…
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Mortgage newbie with an overdraft
Hello guys, First of all, please be patient with me, as I am a COMPLETE newbie when it comes to mortgages. I've been living in my (agreed) overdraft for a couple of years. I get paid a decent amount, enough to cover my rent and bills, but a tough time when I was unemployed for 3 months means I've been in my overdraft for a…
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Another week passes and still no Mortgage Offer from Nationwide
What a saga. Now going into another week by the looks of it. Our Nationwide mortgage application has now been in progress for 8-9 weeks. Since Nationwide took payment for the valuation survey, its been over 4 weeks and still we wait on our offer. Not helped by them failing to instruct the surveyor for 2 weeks while telling…
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Egg EMS Tracker Mortgage and transfer to YBS Yorkshire Building Society
re new set of T&C's issued by YBS (effective from the 24th September 2012) for existing Egg EMS Offset mortgage / tracker accounts. Section 15.3 Basically states that they can close anyone's Offset Savings Account and they don't have or give a reason! Section 15.4 Then goes on to say that you can't have an Egg EMS Tracker…
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Bank of Ireland mortgage rates
We have a mortgage with Bank of Ireland (was with Halifax originally) who are hiking up their interest rates alarmingly so we want to change provider. Now not in formal employment so unable to raise primary mortgage so been advised to look at buy-to-let (property is rented out). But as property not increased in value…
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Who would be entitled to the house? Scenario...
Apologies is this is in the wrong place.. Here is the scenario... Bob had a child with a former partner (never married) when he was younger. They split up. He has no contact with the child. The child, now adult, doesn't want to know him. Bob gets married for the first time, buys a house with his new partner, have children,…
