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Which option should I go for? FTB
Hi I have just been approved for a mortgage with AIB. Mortgage is for £135k I have two options: A/ Discount Variable (1.25% off SVR 4.75%)currently works out at 3.5% variable for three years then standard variable rate for remainder. or B/ Fixed rate (3.99% for three years) then SVR 4.75% Any advice would be much…
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transfer of equity
Trying to keep it short: existing joint mortgage with my former partner, I am currently in the process of removing his name from the mortgage and title deed. Hopefully. Halifax approved the transfer to my name after they credit scored me, then consent letter (offer in sole name) was sent by H to my solicitor. Both me and…
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Mortgage offer received - now guaranteed?
Feel like its a stupid question but I am a worrier.... I had a mortgage in principle and to get that I had to supply my work contract, bank statements, payslips, ID etc. Since then, I have put an offer on a house which has been accepted. Valuation done, mortgage offer was issued and sent to my solicitor a couple of weeks…
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Motgage now refused!!!!!!!!!!!!!!
We recently had a mortgage in principle from lloyds at a great rate that we could afford and had the deposit for, we then found the house and had an offer accepted! brilliant! We then went back to complete the mortgage, we had done everything they had asked and had all the correct documents (you needed to be a current…
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Broker or branch?
My fianc!e and I have just had an offer accepted for a property. By way of background, we're FTB's and have an agreement in principle from a building society after we met with their mortgage advisor back in February and ran through our circumstances, in particular the fact that I am on a fixed term contract (+1yr…
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Changing amount of borrowing after offer letter received
Ok, so we have our offer letter from the mortgage company but have since managed to renegotiate the price and now need to borrow less. I understand this has to go back to the underwriters to look at before another offer letter is then produced. Is this merely a formality? As we're looking to borrow less, is there any…
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How is affordability calculated
Appreciate the finer detail is going to vary between lenders but in general principles how are these things calculated? Is it net income minus other debts minus some standing cost per living amount and then the mortgage must be less than some proportion of this? Is it based on gross income with an assumption on what net…
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Endowment matured - Pay off mortgage
This year, my mis-sold endowments reach maturity. I've got a cracking mortgage deal of 0.20% above the base rate for the life of the mortgage. I want to make payments to my outstanding mortgage but am unsure whether to pay into my mortgage to reduce it now or pay just before the bank charge the interest in October. In the…
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Am I mad????
We currently have a variable tracker mortgage with Intelligent Finance - rate is at 0.94% so paying very, very little interest which is great (took our the mortgage 5 years ago, £143,000 and balance of £88,000 now) We are looking to move house, and increase our mortgage, unfortunately Intelligent Finance no longer do…
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Renting my Property - Declaring Tax
Good Morning, Just looking for some advice from somebody in the know or somebody in the same situation. As of 1st June this year (2013), I will be renting out my property to a family member and I have been made aware that I have to declare this income by filling out a tax return. The monthly rental fee Im charging will…
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broker advice right?
Hi we are looking into getting a mortage ive posted the other day to get advice and it basically came down to speak to a broker for advice. We spoke with london and country yesterday, I called up for some general advice and they just told me before seeing anything of our situation to go with halifax? We then called up…
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Mortgage declind by Nationwide - Advice required!
Hi all, Some help needed please. My husband and I had a mortgage in principal with Nationwide, we went ahead with the application and now it's come back saying declined. This is after 4 weeks of waiting. Their reason is that something has shown up at a past address, which we don't actually know what it is - they haven't…
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Getting Finances in Order
I have just joined the forum as I thought it would be a good place to start looking for advice on getting my finances in order. I am newly self employed and have taken a bit of time to look at my own finances instead of all my time going into my work. We have two BTL mortgages both on interest only and one residential…
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Mortgage affordability
Hello, I'm chasing my tail trying to find out a solution to my problem. I have a mortgage with my ex-husband. He wants to remove his name from the mortgage so that he can start a new mortgage with his new partner. I and my new partner are easily able to afford the repayments, but because we are both self-employed and our…
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Mortgage app - bank statements
Hiya, me again :-) Just a quick question for all you brokers.. On average, how may months worth of bank statements am i expected to produce during a mortgage application? And what specificlly are you looking for? Me and my girlfriend are going to start looking in the new year so just looking to prepare for a good outcome:)
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Mortgage Interest rate doubles
We have just been told by our mortgage company,Santander, that in a couple of months they are doubling our mortgage rate from 2.74 to 4.9, this means our payments go from £680 which is a struggle at the moment for us but we are just about able to meet, to £1287. We have called Santander and they are not prepared to do…
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Mortgage Deposit or Property Equity?
My parents have offered to help us with the deposit for buying a house. We currently have a house and a mortgage. Does it matter if the money they give us is in a bank account or is used to pay off some of our current mortgage, giving us larger equity in our current house? Do lenders treat it differently if the money to be…
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Can I sell a £250000.00 house to my son for £25000.00 with a gift aid
I am not sure that I understand what the gift aid means, my son's bank are willing to give him a mortgage for this amount including this gift aid. Any information would be helpful. Thank you
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2 Mortgage Options
I have a quote from Lloyds TSB for a new mortgage when I move house. My 150K mortgage will be approx, 79K @ 1.73% (a tracker 1.23% above BoE) 71K @ 5.19%, fixed for 5 years. Total = £630 per month But Ive noticed that some search engines are suggesting I can possibly get 3.5% fixed for 3 years with a 10% deposit, which is…
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cashing in unit trusts
got £100,000 in a unit trust fund that has done brilliantly in the last 10 months, should i cash it in to a building society account or let it ride, its two thirds of the value of my endowment mortgage which has 8 more years to go. very scared of getting this wrong
