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One buy to let only - not allowed?
I have one property at the moment which is let out but the mortgage company is telling me I can't convert it to a buy to let mortgage because I don't own another property which I occupy. The reason I don't is that I lodge with a mate and am actually thinking of buying a boat to live on. However, I would like to keep my…
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Mortgage and Broker Advice Please!
Hi all, after some advice. We are first time buyers, have a 15% deposit on a property of about £370k. Earning in the region of 80k between us, no debts (cleared credit cards last month so all empty) and the main question I have is whether we need the services of a broker to secure a mortgage. I understand the good reasons…
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Buying Bigger Property with existing BTL flat remortgage
I have a question about my BTL flat remortgage.I want to remortgage my existing BTL flat to raise money for my plan to buy for us new bigger house deposit.Is it possible if yes how easy to do this Thanks for your help
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Royal Scottish Assurance flexible mortgage endowment plan
Apologies for the daft questions! This is quite long... I am considering surrendering an old RSA policy which was taken out in 1992 and has 2 and half years to run. The policy refers to units bought (?) and my latest statement provided a surrender value. I'm familiar with "with profits" policies but I wondered if these…
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Mortgages and interest rates
Hope this is in the right section... There seems to be an article every day saying how the bank of England will raise interest rates sooner rather than later. How significantly will this effect mortgage rates? Nobody has a crystal ball I'm sure, but before the economy went the wrong way and interest rates were at 5% (were…
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Who does 90% LTV mortgages on new builds in Scotland?
So, we got stung when the help to buy scheme ran out of funds but we've now scrambled together enough of a deposit to cover 10% of the purchase price for our dream home. We have an appointment with a mortgage advisor at bank of Scotland next week (we both do all our banking with them atm) but I'm having a mild freak-out…
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new build purchase and their mortgage services
I am looking to buy a new build from Harron Homes but they are saying I HAVE to use their mortgage services which I don't want to do because I have an adviser who we have consulted 2/3 times, he hasn't charged us for the work or time spent and he is good at his job - oh and he only charges a £99 fee upon application. Can…
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Morgage Advice plus 1 default
Hi Peeps After advice again.. Right i am currently 26 i am a IT project Manager earning 28000k-32000k a year i currently have 1 default on my file from 4 years ago (orange for £117) what was paid of within weeks of getting default etc i have 2 Credit cards both Capital one and barclaycard with £100 on each etc and i have…
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Valuation - Structural Movement, Landslip etc
Hi all, a quick question if I may...in the process of purchasing a property (built in the 1930s). Had the basic valuation back and the market valuation is fine (as the value attributed is equal to the amount of our accepted offer) BUT I note that in the question relating to 'Movement', specifically 'Is there any evidence…
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ExPat Mortgage - any options?
Would any lenders consider my sister for a BTL mortgage? British National Expat Purchase £230k Mortgage £184k Self Employed Clean credit record. After 25-years working in the UK, she moved abroad 3-years ago. She had a residential mortgage up until 2-years ago when she was on PAYE. Her eldest (20) is starting university…
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Declined mortgage in principle
I'm hoping someone can help me out as this is all very new to me and I'm not 100% sure what could be wrong as Nationwide didn't provide a reason for declining us. We have cleared all of our outstanding debts as of last year and have now this year begun saving for a mortgage deposit. We currently have £4k actual cash saved,…
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Nat west mortgage
I am writing following a year of challenges. 1. I was redundant last year and informed Nat West and asked if I could have interest free as I had extensive equity for six months while I moved forward No was the answer. 2. I slipped into very small arrears and put me on repayment and for the last 6months they continue to not…
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Am I a first time buyer?
Hi, I currently own a property which is rented out. (This is in my name only). Me and my husband are looking into buying a property together. Would we be classed as 1st time buyers ?
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Barclays Mortgage/ Self Employed
Hi Again, Just a quick question about being self-employed. I changed from being a sole trader to Ltd company a couple of years ago (Have two years SA302s as salary/dividends) I've submitted an application in branch at Barclays to gain a further advance to purchase the rest of my shared ownership mortgage. The MA only asked…
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First Time Buyer - Mortgage based on job offer?
Hi, I am have received a job offer for a job to start in September this year on a starting salary of 20k. Is it possible to start looking for mortgages just now or would I need to wait until I have worked for 3/6 months? Also to add it's a permanent contract, I have a deposit of 60k (half is gifted from parents) and…
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Mortgage/ Buy to let, would this be possible?
I have a residential mortgage with husband currently. A house has come on market yesterday that I would like to buy. It's £55k, but needs refurbishing, once that has been done, which I think would be around £10k, it would be worth around £90-100k, looking at similar properties in the street. My plan would be to rent out…
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Remortgaging from abroad
Hi, I am looking for some advice. Me and my wife own a property in London. We moved to Sweden in 2012 and rented the property out. I am coming to the end of my fixed rate deal with Santander in September 2014. I am looking to remortgage and fix it again. Value (estimated) c£450k, bought for £411k in July 2010 Outstanding…
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Lender that is not too strict on affordability criteria?
Hi guys, I'm aware that all lenders are different and I know that most lenders have now changed their rules regarding the affordability criteria, but which one in your experience is so far the least strict? I'm asking this for my 40yr old cousin and his wife and the reason I ask is because he is thinking of moving house…
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Buy to let for family member?
My mother has offered in principle to buy us a flat with a view to us living in it for a year then continuing it as a BTL. However, normal BTL mortgages obviously ban this, and she has spoken to just one broker who has said a 'family member BTL mortgage' would not be possible on her income (around £21k). Does this sound…
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Baffling decision from Clydesdale Bank - any ideas on appealing?
I applied for a BTL remortgage with Clydesdale, 70% LTV on a house valued at £360K (by Clydesdale's valuers), with tenants currently paying £1650 per month. I went for a 5 year fix at 4.19%, so repayments of approx £870 pcm (interest only) vs. rental of £1650, i.e. income is 189% of repayments. I provided proof that the…
