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redeeming mortgage within fixed term
Is this a big no-no? My brother is looking to sell his house but still has a year left of a 2 year fixed term. I think the fee he would have to pay is about 3% and could be around 2.5k. Is he better off waiting and selling in a year?
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mortgage problem
hi all, after some advice.i had an operation last November which I was told would keep me out of work for 5 months.i made sure I worked hard to cover the mortgage for the 5 months no the problem is ive been told I wont be able to go back to work until the end of next month so im a month short on my mortgage (which goes out…
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Transferring mortgage/deeds into sole name
Hi all, I was hoping there is someone out there who can tell me what to do. I have a joint mortgage with what is now, my ex-partner. She moved out of the house back in January and has also stopped contributing to the mortgage and bills. She is laughing at me, she said the only way she would leave me in peace and stop…
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CTL and buying 2nd Property - Broker only job?
I have been granted CTL and currently living in rented accomodation in another town, whilst searching for a house to buy. Would I be better off speaking to a broker, or can I approach high street lenders myself? Any advice on how best to approach this? And how do most lenders consider a CTL property when deciding on…
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death and mortgages
hi, i took over my dads company after he died, change of director etc to get it into my name. my mum is the other director. now, my dad secured a mortgage against their house to purchace the company (only a small amount and they had full equaty in the house, i.e no mortgage) . i have not let the lender know about my dads…
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FTB status or not?
When applying for a mortgage i was under the impression that as i don't currently have a mortgage i would be classed as a first time buyer? I've been told by a broker that as i had a mortgage in my name 8-10 years a go that this will show up on a credit check that i'm not a first time buyer and thus won't benefit from…
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How long does a Nationwide mortgage application take?
Hi all, my partner and I are buying our first home - very nervous about it all! Our offer was accepted (10% below its asking price - possibly because we're chain free). 23/02/2013 Offer accepted 25/02/2013 Agreement in principal approved 27/02/2013 Submitted full mortgage application 04/03/2013 Valuation of property…
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First time buyer needs some advice!
Last weekwe found out that our landlord who has been living in Australia for the last 5years is coming back to the UK and consequently we've been given the minimum 2 months’notice period to leave the property. We've been renting (paying off their mortgage)for the last 3 years so now I feel is the time for us to buy our own…
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Need help - Halifax fast track mortgage
Hi I am a first the buyer, and I am very stressed out about my first mortgage. Can someone please tell me what a fast track mortgage is?
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FirstBuy Staircase with mortgage or wait?
Hi, My partner and I bought an apartment in Dec 2011 using the FirstBuy scheme (5% deposit, 20% equity loan, 75% mortgage). Once the first 5 years are up we start to pay interest on that equity loan at 1.75% which will then rise each year (by RPI + 1%, so year 2 would be something like 1.86% based on 6% RPI). Realistically…
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Can anyone explain credit records to me please?! And is an empty record good or bad?!
I'm applying for mortgages for the first time in 22 years, so I'm getting my head around various bits of new info, including credit records. Last night, mostly out of curiosity really, I followed some links from this site and got free credit info about myself from Experian and Equifax... It didn't really tell me much...…
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Will this cause a problem
Hi, We have saved 18k towards our deposit but I had a late credit card payment last year (September) which I forgot to pay on time and paid a week late. We have a joint salary of 79k. I have had a ccj from 9 years ago but no adverse credit since. My wife's file is completely clean. Will that late payment cause a problem…
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Over-pay or shorter mortgage
Hi all, I am a first time buyer currently looking at getting a mortgage. I have checked out moneysupermarket and found one of the best overall deals for my circumstances is a first direct mortgage. I'm keen to get rid of my mortgage as soon as possible and could afford to take out 15 year mortgage rather than the standard…
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Was I missold my mortgage?
Slightly different Bank of Ireland-related issue to the recent one - can anyone help? I moved house in 2011 - at the time I was with Bank of Ireland on the SVR of 2.99%. I spoke to the Bank about porting my mortgage but was concerned about potential future SVR increases. When I asked them (over the phone - didn't get a…
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What's the lowest you'd bother with an offset mortgage with?
Just doing some reading on my dinner break & if i understood properly, i just wondered, what's the lowest amount of savings you'd bother with an O.M. with? To make the question personal to myself... Our budget is 150k (we're considering increasing, but 150k for now). We'll have 48k-50k to put down We're looking at monthly…
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Options for buying house while still owning a flat
Hi there, My husband and I are looking to buy a house in the not too distant future. We currently own a flat, which we want to sell, but flats in our area are not shifting even when priced way below home report value (we are in Scotland). We expect not to make anything from our flat when we sell so have started saving a…
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To Remortgage or Not???
Hi all, first post here so please be gentle! I'm currently considering a remortgage but would like to hear some thoughts on my reasons for this. I'm currently on a very good mortgage deal, 1.25% which I currently overpay by £50 per month. I know this is a good position to be in and that's part of the reason I would like to…
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Mortgage borrowing
Hi everyone, this is my first post on here so go easy on me. Currently looking at saving and getting a mortgage with my girlfriend. We are both 22 and currently living with parents. I have approx £9,000 savings and parents/grandparents can lend up to £40,000 for a deposit, my girlfriend has no current savings as she has…
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£790 over 15 years or £746+overpayment over 14 years?
Our mortgage is up for renewal and we are looking at a 5 year fixed deal around £800 per month. We have the option to make overpayments, but is it better to pay more over 14 years or slightly less over 15 years and also make an overpayment, or is there no difference? OPTION 1 5 Year Fixed @ 2.74% for a 14 Year term =…
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Additional borrowing for a home extension..
Hi - hope this is the right forum for my question. I want to extend my home due to arrival number 3 in August. For the work I want done, I reckon 60k will cover it - however I do not have this kind of money lying around (funnily enough) My o/s mortgage is £238,00 and the house is probably worth around £280,000. So, will I…
