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Persimmon reservation fee
Hi, Myself and my girlfriend have just exchanged on a Persimmon home which we are due to complete in September. Something I've asked about is the initial reservation fee of £500 that we put down a few months back, where does this go? I've asked about this but don't understand, they says it comes off your final bill. We…
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UPDATED: Nationwide valuation lower than offer, but mistakes on surveyor report
Had our valuation earlier this week. Just phoned Nationwide to find out the results and been told Countrywide have valued the house at £195,000. We offered £215,000. As a bit of background, the property we're buying is being done up by a developer, who has redone the electrics, gas central heating and damp-proofed it all.…
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What is your maximum leverage?
Thought I would post this to see how different people feel about this! What is the maximum leverage ratio (mortgage:annual income) that you would consider? Obviously, this is going to be very different for a FTB and someone who has moved on a bit and has some equity lying around from already owned property. The other half…
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Am I missing something here?
So...we're just out of our 2 year introductory rate with a mortgage lender (post office) and are shopping around for a better deal. I'd heard that it was usually far less hassle to go through your current lender, so called them to find out what they could offer me. As an existing customer, it turns out, the best rate on…
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Help!Mortgage redemption early repayment charge - Solicitors fault
I am completing on selling my property today and my solicitor emailed me yesterday to confirm that I was 'happy' with the redemption figure from my mortgage company. I noticed that the final figure included an early repayment charge as the settlement was to be within 1 month (in this case 1 day). I spoke with my solicitor…
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First time buyers, trouble..
Hello everyone. Hopefully someone can help! We are fist time buyers and are struggling to get a mortgage. We are trying to get a property with help from the "help to buy" scheme. (5% deposit, 20% government loan and 75% mortgage) We have been told that there are only 2 lenders who are available, Halifax and Chorley…
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Mortgage redemption early repayment charge - Solicitors fault
I am completing on selling my property today and my solicitor emailed me yesterday to confirm that I was 'happy' with the redemption figure from my mortgage company. I noticed that the final figure included an early repayment charge as the settlement was to be within 1 month (in this case 1 day). I spoke with my solicitor…
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Would this be an unwise move?
Id really value the brokers opinions on this :) I want to put an offer in on a house ive seen and can (just) scrape a 15% deposit My problem is a past IVA that came off my credit files in March 2012. Ive had no adverse credit issues since and my files were all green ticks the last time I checked Ive read some positive…
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Buy to let mortgage-do i use broker?
Hi I am currently looking for a new BTL mortgage as my old one expires end July. I have done a bit of research but not sure if to do myself or go through an advisor as sometimes they can get rates we do not see. Can anyone recommend anyone ?
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First mortgage installment
My lender is Nationwide. Am wondering when does the first instalment will go? Will it go on move in date? We are moving on June 28th? Thanks in advance.
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Best Way to buy a second property
I want to buy a second property to rent out. Value approx 150K I have a property worth 400K, 100K mortgage outstanding for 9 years. Current mortgage deal is 2.4% fixed for 2 years. Q's: 1. Can I simply borrow more using my existing mortgage to buy the second property? 2. Can I have two mortgages at any one time? 3. Should…
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Mortgage Guarantee Scheme January 2014
Hi - does anyone know if this will be available throughout UK ie Northern Ireland???? Thanks
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Changing Mortgage Mid fixed term
I have a mortgage with Nationwide about half way through its initial fixed term. I believe there is a penalty for early redemption but was wondering if there are any angles/ways to wriggle or do a new deal with them that they might relax this. I know this may to most sound retorical but just wondered if anyone had any…
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Mortgage for buyer of renovation property
We have just bought a house that we are planning to do up and then sell on. Doing it up is likely to take a couple of months. I found some information on the internet that worried me - it said that a potential buyer of the house, once it is done up and we are selling it, will not be able to get a mortgage if we have owned…
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Sorry! Another query on the Coventry Building Society!
I posted at the start of the week due to the fact when we submitted a mortgage application with the Coventry we were led to believe through the DIP we were allowed a certain amount for our mortgage but they failed to take my husbands pension into consideration and offered us a lot less than DIP. We have now had another…
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Halifax Mortgages - 'soft' searches only?
Has anybody completed on a Halifax mortgage with only a few 'soft' searches left on CRA reports? I bank with Halifax, and went through AIP and full application with only a few 'mortgage quotation' searches by Halifax/Lloyds - I was expecting at least a full search after exchange but none so far. Is it possible that as an…
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How to figure out how much income to/can allocate to mortgage repayment?
We saw an IFA yesterday about mortgages & he was very helpful & explained a lot including what we can borrow, which was more than i thought (but we wouldn't want to be going top end anyway). As ever though, you leave these situations & then questions come to you. I have just one that i think is pretty important though…
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Explaining the basics to someone just learning
Hi, I'm just dipping my toes in the water really, have been to see 2 independent financial people to discuss where I'm at and they both said mortgages could go up to 5 x salary for my circumstances. Now, the way I understood it, was that you could afford a place that would be your deposit + salary x 5. So for example,…
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Mortgage to buy next door
We are looking to increase the size of our house and we have been offered the opportunity to purchase next door. We have a mortgage on our current property and will need further mortgage funding to purchase the adjoining property. Having spoken to our current mortgage provider today they have confirmed that they are not…
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Is my FA correct or should I look elsewhere?
We have just started looking for a new house. Went to see a FA a couple of days ago, he has been recommended by a good friend. He said that he won't do any of the mortgage stuff until we find a house that we like, he told us how much we would be able to borrow. I thought that it was better to get a mortgage agreed up to…
