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Anywhere to turn?
Anywhere to turn? We got a DIP from Halifax, which surprised me, but have justhad our mortgage application rejected by the underwriters. We were looking tobuy a property valued at £140k. We have a deposit of £56k, I earn £24, OH £6K,Savings in the bank of £5k. Here’s where it gets messy until 2months ago I hadcredit cards…
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Can I have 2 residential mortgages?
Hi, new to the forum - hope someone can help :) I live in the north-east of england, and work mon-fri in Derbyshire. I commute home every weekend - permanent re-location is not an option as i have children back in the north-east that i only get to see at weekends (separated from childrens mother) I have one buy to let…
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House offer
Hi, apologies if this is in the wrong place. I put an offer in on a house I really like yesterday. It is selling at offers over £109,000 and I put in 105,000... I know that is a good deal under the asking price but it was my first time ever putting an offer and wanted to test the water. The EA came back and said they are…
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Mortgage chances, 1 of us with adverse credit
Hello all, Sorry but I thought this might be a good place to get some basic advice. OH & I applied for a mortgage last year, but were declined. We are currently living with parents & saving but I want to know if it will be worth applying again in a year's time/our chances of success. If we actually won't be able to do it…
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Switch mortgage to buy-to-let
I bought a house almost 2 years ago funded by a mortgage from a reasonably well known bank (the mortgage has just over a year remaining of a fixed term). Since then my circumstances have changed and I now live in my girlfriend's house. I planned to sell, but was approached by someone wanting to rent and for the past 7…
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Mortgage address
Hi, Usually I can find the answer, so never need to post... someone correct me if I'm wrong and it has been! I currently have a BTL mortgage on a house, which I'm selling (is nearly sold) so that my wife and I can look for a house together. I have ordered credit references, to prepare, all is well apart from a couple of…
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New mortgage lending criteria
Hi, Hoping someone can help and point me the right direction! We have just been refused a mortgage in principle by the post office. They say because our loan to debt ratio is at 47%...can anyone explain how this is calculated? My OH and I earn a combined income fo £75,000 we have £40k for a deposit. We have HP for our car,…
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Leeds Building Society - Ridiculous delays
Hi I had a decision in principle approved by Leeds Building Society on May 9th. 8 and half weeks on they still hadn't finished underwriting or instructed survey. The product was a 2 yr fix with free survey. The case itself couldn't be any simpler, 2 working professionals, 20% deposit no debts, loans, or anything on finance…
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Offset mortgage
I am deliberating as to whether to use the savings in my offset mtge to pay off the majority of my loan now - or whether to hold onto some cash for that 'rainy day' everyone is telling me about! Have £35k mortgage - (monthly repay'ts are £335) - £25,500 in savings Any advice welcome
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Selling one NB to buy another
Hi, I purchased a NB property on my own back in March 2013. I am now looking at selling this NB and buying another NB (about 30 miles away), this time with my partner. Both these NB Houses are with different developers. Would I best selling my existing NB, then go back in as a first time buyer with my partner for the new…
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Shocked at the difference in how much we can borrow
Just put our details into a mortgage calculator on nationwides website to see how much we could borrow. When I put in our childcare costs it said that we could borrow £78,000 but when I left those out it said we could borrow £198,000. That is a big difference. We are looking to borrow £100,000 which would mean that our…
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Mortgages for holiday lets?
I'm not sure if this is quite the right forum but someone *might* know the answer to this: I'm looking to buy a property from a friend of my mother in law and run it as a holiday let. However, it's a wooden built chalet and I'll need a mortgage. I've tried Leeds and Cumberland BS (only brick built) and Principality (not…
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Scottish Widows Professional not issuing mortgage certificates?
Does anyone here have experience of using Scottish Widows Professional? My broker recently made an application to them for a decision in principle. I am self-employed and wish to use an offset mortgage (so that, amongst other things, money that I collect in VAT can reduce my mortgage interest payments until I have to pay…
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Consent to let on residential mortgage?
I am currently almost half way through a 2-year fixed rate mortgage with Nationwide. Due to a change in circumstances (personal not financial), I need to consider options to let the property for the remainder of the fixed term - at the end of which I will either move back into the property, continue to let it, or sell it.…
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please help: ex coming off the mortgage
Hello all - I would really appreciate some guidance if possible? 7 years ago we bought a property for £185k with a mortgage of £168k. We split up a year later and I have been paying the mortgage ever since after she moved out. finally, I have a mortgage agreed based on my income at 75% LTV on new valuation of £220k (as I…
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Santander Mortgage (more information request)
Hello all, I'm a first time buyer and have never been through anything like this only a few finance things, loans and credit cards in the past. I have just bought a 3 bed house for £66k and put a 5% deposit down of £3300. It just made it through to the underwriter yesterday and he came back with a request for more…
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Help to Buy (Scotland) runs out of money
As announced on BBC news last night the Help to Buy scheme (Scotland) has run out of money for this financial year. Just yesterday we handed over the keys for the sale of our home and were to apply for a HTB mortgage next week but now we are left scrambling to find a 10% deposit instead of a 5% one. We are fortunate to be…
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Questions over returned DD's
Hi, We are in the process of going through our first mortgage application with a broker who is dealing with Abbey. Everything is going well, there were some questions over my husband ILR which were sorted out quite quickly but they have come back asking questions about 2 returned DD's from last month. Its my own silly…
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buy to let mortgage criteria
Hello, I have 60k that i would like to invest and i have been thinking to buy a property and let it out. Is there any difference in the criteia which follow the lenders concering first buyers and buy to let? i.e. For first buyers, you could get up to 4 or 4.5 times and you will be asked about your expenses etc. Is it the…
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remortgage
My current fixed rate mortgage is coming to an end and I am looking to remortgage to a dnew provider. I have just received a form from my new mortgage providers solicitor requesting me to fill in an 'initial detail response form'. My query is regarding one of the questions in the form. The question states "if I am reducing…
