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Deposit indemnity is this a joke?!
To cut a long story short our solicitor has decided to tell my partner and I 1 week prior to completion that they won't act for us unless we take out an insurance product that covers the sizeable (50k) deposit we are being gifted by our parents. Apparently this is to protect the lender should either of our parents go…
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Lending criteria - Info request
Hi I'm a few years removed from mortgage advice and am looking to get some information as it seems more difficult than I remember to get hold of lender's criteria. Mother is looking to buy her house. - Right to buy - Non standard construction: tin prefabrication. Are there currently lenders which will use the purchase…
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Poor credit. Mortgage? Plan of action?
I plan to get a mortgage in about 3 years time, however I've just checked my Experian credit rating and it is 635 (poor) and I would like advice as to what is my best course of action over the next 3 years. Details of my poor credit :- 2 year old default for £457, will be fully paid off in April this year. 7 payday loans.…
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Mortgage/Rental Advice Sought!
Hello there all, I'm quite new on here and hoping for a little guidance, and I hope I've put this question in the right section. I'm trying to get my head around whether to sell or rent out my current house and which is better overall in my situation. I've looked at some sums and think I know the way to go, but also…
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Redeem mortgage and pay 2%? or not?
I have a £100,000 outstanding mortgage with C&G on a house which I bought in 2012 for £157,500. The mortgage is split into 2 sub-accounts (SAC) SAC1 £30,000 0.67% (BoE+0.17%) - 9 years left SAC2 £70,000 5.89% fixed until Feb 2015 - 22years left SAC1 is on interest-only as its virtually interest-free from a previous…
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Mortgage renewal whilst working abroad
I own a house in the UK. We lived there as a family up until recently, before work took me abroad for a while. We expect to be back in the UK living in the same house again in the late summer this year (2013). Meanwhile, it's time to apply for a new mortgage deal. We have been accepted in principle and we like the rate and…
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Remortgage Valuations - Who are the favouring?
Hi. That might be an odd question, but I'm about to remortgage and for 60% loan to value mortgage my house price needs to reach a certain level and I'm right on the cusp. If my valuation comes in slightly below the mark then I can't get the mortgage I'd like and I'll be on a higher rate (and I'd pay to get the valuation…
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Joint mortgage - poor credit
About 4 and half years ago, my friend asked me to be a guarantor on a new mobile phone account. The company, Orange, started sending the bills to me and I realised they were in my name. I tried to change it but couldn't. Long story short, my friend didn't pay the bills and it was transferred to a debt collection agency. I…
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mortgage offer -how long does it last?
hi, we have just been told by our mortgage adviser that our mortgage offer is only valid for 60 days. Does this mean we need to complete in this time? Just phoned the estate agent and they said it wouldn't be that and you can always extend but our adviser did not seem to think so - we have had to pay an upfront fee of £995…
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First time buyer & mortgage deposit in shares...help?
Hello, I am just wondering if anyone can offer me some advice. Myself and my partner are first time buyers looking to apply for a mortgage within the coming weeks. Over the past year we have managed to save £25k for a deposit, however it is all in shares. Although we can take this money out now, it would grow a lot more if…
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First time buyer Mortgages
http://www.bbc.co.uk/news/business-21585450 Dont know who the hell is getting mortgages. I have a settled default over 3 years old and a £30,000 deposit available and I can't get one. I presume these people have gold plated credit histories. Probably smug little 20somethings who have never experienced unexpected financial…
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Can you use a commercial mortgage for buy to let properties?
We have 5 houses, 3 have buy-to-let mortgages with approx 40% equity in them. The other 2 are mortgage free. Do the banks offer mortgages to put these all together as one mortgage? Is this a commercial mortgage or is it something else?
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Quick mortgage porting question
Hi, just a quick question if I may, as I can't seem to get my head around it: I'm half way through my mortgage of £125k, having paid off £50k roughly. If I want to buy a bigger place, can I port the mortgage across, and use the £50k that I have paid off as a deposit? (Port the remaining £75k on the existing rate, and get…
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interest rate changes on mortgage
hi can you help me understand why my mortgage lender has put my mortgage payments up twice in past year ? as i understand the bank of england variable rate is 3.99% for home owners. my lender bank of ireland is now charging 4.49% . my payments have gone up from £541 per month to over £800 interest only. i have asked them…
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Santander trying to block me porting 0.99% deal
Hi, I hope someone has advice. I finally sold after 18 months on the market, and found somewhere to buy. It would mean borrowing more but we make huge overpayments anyway. I currently have a flexible mortgage 0.49% above the base rate, so its currently 0.99% (for the life of the mortgage) enabling us to make those massive…
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Never remortgaged before
Hi All Just after a bit of advice from the knowledgable folks on here about remortgaging. I'm currently with Halifax, and have been since taking out the mortgage on my first home at 19. Eleven years and one house move later I've just come off a 2 yr fix onto the SVR, 3.99%. I'm looking at the co-op 5 yr fix (fee free) at…
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Large deposit poor credit what to do.......
Hi never had a mortgage befor but I need one for 10,000 got a large deposit of 80,000 for a house I'd like to buy but need this last 10,000 and got declined because of poor credit I've had one default which am now working on fixing and a coupled late payments but nothing else anything I can do to get this last 10,000
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First time buyer mortgage. Big overdraft but large deposit. Advice please!!
My partner and I are looking into buying our first home in the next few months. Unfortunately up until tho month I have been on a temp weekly pay contract where I currently work (I have now been given a Permanent contract) and this has meant my overdraft now stands at £2000. However my experian credit report shows as…
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Bad Credit Mortgage
I want to apply for a mortgage but would like others opinions as to what to do? Im 31, earn £44k a year, my parents are remortgaging to give me up to £40k in deposit, and my experian credit score is 901 out of 999. The issue is that i was subject to an IVA (which i completed in Nov 2011). I have been in touch with a broker…
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Nightmare with Nat West. Help!!
I paid off my mortgage due to having recieved an inheritance from my Grandfather. This was done at 9AM on 19th of February. I phone yesterday as funds had yet to clear (taking into account the five working daytimescale!). Today sixth day, I am told by the representative that the funds still haven't been credited to the…
