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New Mortgage Rules
Good morning, I just wanted some thoughts, I applied for a mortgage last week with Virgin Money and they are going to call me in the next couple of days about our application. I know the new mortgage rules come into place next week and just wondered if people thought they because we applied before they came into place,…
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Chances of getting a mortgage?
Hello, I am wondering what my chances are of getting a mortgage and any advice would be much appreciated. This may be a bit long winded, but please bear with me! Myself and my partner earn £40,000 per year and currently have savings of £12,000. We would like to look at a house which is currently on the market for £70,000…
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Endowment misselling and advice
Apologies if I am on the wrong board. If so then please redirect me. Otherwise any advice would be appreciated. I've followed over the years the misselling of Endownments campaign, but thought I could not claim as the Independent Broker I went through for ALL of my endowments, etc does not exist any longer, but maybe I am…
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Right to buy
Hello I am considering buying my local authority flat under the RTB scheme, the market valuation should be around £115'000, using my estimated discount I should be able to get it for around £42'000. I am 52 years old and would be a first time buyer. I've been out of work for a couple of years with a injury, but am getting…
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mortgage application
Can anyone advise. .I am still named on my ex wife's mortgage even though I hold no stake in the house and make no payment towards the mortgage. My second wife and I can afford to pay a mortgage but will we be considered when I am technically on the hook for my ex wife's mortgage? (even though if she defaulted I would let…
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Can Not Get a ReMortgage
Hello all, new here. Last July, my 5 year fixed rate mortgage finished and I defaulted to SVR. Not a bad thing as the payment dropped from 750 to 650. I bought this, my first house in 2006 on the back of a well paid job, which vanished in 2008. Now I work for a national supermarket chain. I still owe 96K and earn today in…
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First home vs buy-to-let mortgage
So, I'm about to jump on the property ladder, buy a flat and rent it out basically. But as far as I'm aware buy-to-let mortgages have wayyy higher deposit requirements (Halifax: min 25k, Santander: don't even offer it).. To avoid that route, would it be possible to just get a FH mortgage initially then convert it to a BTL,…
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Rejected for mortgage - how cautiously should I proceed
Hi all, I am trying to get an 80% LTV mortgage (to borrow a total 3.4 times my income) for a one-bedroom flat. I feel that the payments are easily affordable as I save 1000 each month, and the mortgage payments are 200 more than my current rent. Various "affordability" calculators also say I can afford it. I have no debts…
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Mortgage Term and Unexpected Costs
Hello All, Coming to the end of a term on a fixed rate mortgage (higher interest rate) and due to now go onto a variable rate (lower interest rate), but monthly repayments are now increasing. What is the reason behind this? Has the bank miscalculated the mortgage term or is there another reason?
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Worried re Affordability/Santander and Overdraft
Hi guys, I've submitted an application to Abbey for an 85% mortgage on a 200k place. I earn 42k a year, going up to 47k in August. I have a credit card of £495 which most months gets paid off in full. I graduated with a 2k student overdraft. When I get paid this gets cleared off but invariably I end up back in it. Through…
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Worried sick - Experian and other assistance required
I've posted on here already, albeit on a different thread, (which I now can't find!) but today I have contacted a broker in search of help, and now we are worried sick. My partner and I have offered to buy a house for £230k - we have a healthy cash deposit of appox 50%. My partner has a default on her credit file from May…
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mortgage advice needed
I have been with bradford and bingley since 1993. As most of you are aware the government bailed out bb several years back and is now owned by the government. Since then bb are unable to offer fixed low rate mortgages. I am unable to move borrower as my partner is self employed (5 yrs accounts) and i have only been self…
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Mortgage - UK resident & expat advice
Hi, Myself and a friend are hoping for a buy to let mortgage for a property priced at £200k or below, with a deposit of around £40k. The main complications are that although I'm UK resident my friend is a British expat living in Dubai, he has a stable job with a sizeable UAE based freighting company on good money, but has…
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Contractor mortgage
I am an IT contractor looking to get a mortgage. As standard lenders don't seem to want to deal with contractors I have decided to use a specialist contractor mortgage broker. Has anyone here had experience with these types of brokers and could recommend one? I am currently thinking of using Contractor Financials so if…
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Mortgage Savings
Hi, Wondering for some advice which I hope someone can help out on, probably a fairly simple answer.. I have a 'Save to Buy' savings account with Nationwide. I have had it for a while and opened it with a small amount of spare cash I had, then set up a standing order for a regular amount, also put in random payments when I…
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Desposit as part owner - advice
Hi, My mother was diagnosed with early dementia (still able to make decisions) and with her mobility issues needs care at home. I currently live with her. To cover care costs we need to sell the property. I must add I already own a property which was too small to accommodate mum so is rented out. If my mothers house was…
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Yorkshire Offset Plus
Hi Just got an AIP today, but the mortgage adviser i saw said its his first day back after holiday and it was visible that he was still getting back into the swing of things, so im taking what he said with a pinch of salt. Im very interested in their Offset Plus account as i have friends who would be able to offset the…
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Nationwide have changed their mind?
Hi all, I just needed to find out if anyone has had this happen because I'm in a soul-crushing position right now and need to feel out to somebody! Last month Nationwide agreed to lend me a certain amount in my decision in principle, which all went smoothly. Once I found my dream flat and a price was agreed, the official…
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---MMR - What & Why? -----
I have just been sent this, it might help answer questions... it may cause more questions in turn but hopefully it will help give a bit of understanding to why the changes are happening.…
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Renting Out Current House And Buting New Property
Hi There, Just looking for a bit of advise before we go and see a mortage advisor. My partner carrently has a house in her name which we plan to rent out to her brother who may in turn but the property when he has the cash and in turn buy our own house between us. Just wondering if this would be possible and how feasible…
