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mortgage transfer to a cheaper property
Here are the facts. I have lived in the same house for 22 years. Current mortgage £375k house value £400k. I want to reduce the LTV by at least £100k by way of reducing the mortgage amount and buying a house for £2/250k in a cheaper area (I live in Ascot)using the same mortgage company.I do not wish to raise any capital…
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Help - Will we be able to get this Mortgage
Hi, We have the below debts and was just wondering if you think we would get a mortgage. My husband earns 35k I earn 20k Loans 17000 NRAM - 200 a month 10000 Natwest - 215 a month 7000 Lloyds - 185 a month 380 a month childcare We are looking to buy a house for 200k with a 10% deposit. I would really appreciate any help.…
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Santander customer remortgage rates
Hi, I've just been on the phone to Santander (current lender), regarding my fixed rate(3.35%) offer ending May this year. With a LTV of 38% and outstanding mortgage of £65000, they offered a 2 year fixed at 2.49% with £799 fee or a 2 year fixed 2.89% with no fees. I was also offered a 2 year tracker at 2.69% with £799 fee…
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Skipton Building Society Mortgage Process
Hi all, Looking for some advice. I'm currently going through the mortgage application process with Skipton. Filled in my full application with mortgage advisor on Sat 18th January. Recieved an email update from mortgage advisor telling me that all documents had been received by skipton that they needed from me and that…
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Advice needed...thanks
Hi I wasn't sure how to title this so I'll just dive straight into my situation! My wife and I recently got married. We each owned our own properties but mine was sold in Feb 2012 leaving 5k equity in my saving account. I moved into my wife's property which is tied into a fixed rate deal until 2016. The flat is too small…
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Post updated! Advice on arranging finances before mortgage application
Hi, I'm planning on applying for a mortgage in the near future, before I do I'd like to organise my finances in such a way as to minimise the chances of being rejected. Firstly I have some old student loans (£4800ish in total) that are currently deferred, I could use some of my deposit to pay them off. In terms of a…
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95% mortgages
I am a first time buyer looking for the best 95% mortgage I can find. Currently this appears to be 5.49% fixed rate for 5 years (with hanley building society) Speaking with nationwide on saturday to see what they can do (I think I need to hold a savers account with them for 6 months) but I dont mind if in the long run we…
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Mortgage Endowment Assigned
Hi. We have a Mortgage Endowment which is due to mature in couple of months. It is currently Assigned to a lender (NRock). However the mortgage is not due for redemption for another couple of years. Is there any way I can get these funds to us and grow them in an high interest account before paying the lender off ? The…
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when to move the money out of offset
Hi all, so basically thanks to your advise i am now 100% off set, :j so my question is when do i draw the money out of the off set account to keep it level with the outstanding mortgage balance A) draw the mortgage payment back out the offset the same day (its paid in ) (or day after) it shows up on the online facility (DD…
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Calculating my monthly payment
This seems like a simple question but I can't get my tiny brain to figure it out!!! I am due to finish my fixed rate with nationwide and my research tells me it is best to go onto their BMR at 2.5% currently. I want to do some budgeting, when putting the figures into an online calulator to calculate my monthly payment…
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Mortgage Advice - Bad Credit
I have recently been put in a position where I am able to buy a house. Unfortunately my recent credit file does not look good:- - I have usage of payday loans on my file. This became a problem in my life and I took out a credit union loan to get out of the cycle. I paid off all I owe to pay day loan companies last month. -…
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Help with credit file and ability to take out mortgage
When I was at university I took out some credit cards which I endedup missing payments on and ultimately running up bad debts. I eventually paid these off but it has had anegative impact on my credit rating. Iwould now like to buy a house. Thiscredit card debt will be removed from my credit file in 3 months time (it…
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FTB question
Hello I was wondering , FTB ,looking at 185k house and between 40-50 LTV required....no defaults or late payments on credit reports , long time bank with Natwest , 28k p/a salary My question , should i approach Natwest directly or go straight to a whole of market broker....? Thanks
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Remortgaging Options in a CTL...
Hi guys, Need some guidance. Current fixed rate ends in a few months for my former home. Have Consent to Let (CTL) in place and called up to see what was available with my lender. Good rates for existing mortgage customers (2yr Fix) so was very optimistic that I could finally enjoy the low rates that the whole world and…
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Offset v Fixed+Savings Help
Hi guys Trying to decide between an offset and a fixed rate+savings and have used the calculator, but not sure it's giving me the full picture. I've plugged in my numbers 104k owed over 25 yrs 3.29% 4 yr fix with £99 fee with nationwide 3.69% offset with £500 fee with first direct Savings of 15k at 2% at basic rate tax…
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Offer on property
Hi All We are in the process of submitting an offer on a property we want to buy.I put forward our offer today over the phone. But the agent wants me to submit it in writing via email. Is this usual? I thought submitting offers was done verbally (sorry for any ignorance). We really like the property but i am worried i am…
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Mortgage fees
Hi Just a quick question. When do you normally pay mortgage arrangement fees? Do you pay them upfront or on completion? Its not an option for us to add them to the mortgage unfortunately. thank you L
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Limited company account for mortgage
Hello A bit confused so would appreciate some advise can someone please explain the follonwing: We define gross annual income as the applicant's share of net profit (before dividends) of the company together with salary taken. The salary must have been deducted before arriving at net profit. My company net profit is 64k me…
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Borrowing more on Halifax mortgage
Hi all I took out a Halifax mortgage last August. The loan-to-value was 80%. Since purchasing the property we have added a second floor and three bedrooms (it was a bungalow) and carried out a complete refurbishment. I estimate our loan-to-value is now more like 65 or 70%. I have a couple of expensive unsecured loans and…
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Barclays 'sprigboard' & Lloyds 'Lend a Hand'
Hi, I have just heard about the new Barclays and Lloyds mortgages which involves parents helping their children get onto the property ladder. Are they as simple as they sound and are they really a good idea? Having only just heard about them your comments would be appreciated Thank you
