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can't get a mortgage... why?? best not to reveal buy to let?
I've had a mortgage on my property for 5 years, the house is worth approx £130,000 and I owe £78,000. My credit score is 999 (excellent), however I've been turned down for two mortgages in the past two months. I don't want to borrow anymore money, I just want to fix the lowest possible rate for the next five years. The…
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Is this possible (Remortgage to consolidate)
Hi All, I wonder if you good people could help me, I currently live in a house the is worth an estimated 190 to 200k, I have approx 150k left on mortgage, I also have a large sum of debts, approx 30k, I was wondering if i could remortgage somewhere and consolidate all my debts in with the mortgage? My current mortgage is…
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Pay Mortgage product fees or deposit - thoughts?
Hi, With house prices being so high compared to the deposits that people can put together, it seems to be worth reducing your deposit and using as much as possible for mortgage product fees, so you can get the best rate possible for your circumstances. Fees seem to be up to £1800 which is a lot less than the deposits…
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Santander fixed rates lowered post-application
Hi brokers, We're limping towards exchange as FTBs. Both self employed and massive increase in earnings over last couple of years - broker sorted us a 5 year fix with Santander, 75% LTV. Over the six months we've been trying to buy we've watched the possible rate go from 3.64% to 3.89% back to 3.64% and it's now down to…
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Joint house purchase Deed of Trust
Hello! I've been a lurker on this forum for ages but need some help regarding a house purchase I am making with my partner (and soon to be wife). We're purchasing a house together, total value £250k. My partner is contributing £5k to the deposit and I am contributing £140k (a gift from my parents, which is essentially…
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Changing mortgage term whilst on DMP
Hello We are currently on a Nationwide mortgage on SVR (I think - currently 2.5%) as our fixed term ran out a while ago. We are also in a large DMP - which we hope to have paid off in 2-3 years (see siggie below). We are wanting to switch to a 5 year fix during which we hope to pay off the DMP and second mortgage we took…
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Which property to overpay?
I own 2 properties : Current home we live in - Mortgage £123k, 29 years, monthly payment £656. Apartment we let out - Mortgage £108k, 29 years. Monthly payment £595 As from the new year we will be able to put aside £200-£300 for overpaying mortgage. Should I put it all into our current home or part into the apartment. We…
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Intrusive rules. I want to complain but don't know how...
Hello. I was hoping that one of you kind individuals may be able to help me. I have recently bought a house. During the purchase of my house I was given some money towards the deposit by my parents. The deposit in total was £26000. My parents contributed £6000 and I paid £20000. I declared this fact that the money was a…
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Nram jpmorgan buy out
J P MORGAN HAS BOUGHT OUT 2.7 BILLION OF NRAM AND BINGLEY MORTGAGES. intention to bundle them up and open to investors in the way of mortgage backed securities, does anyone no how the interest rates are set? how safe are these? will the consumer still be protected? what will this mean to the mortgagee there is very little…
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Best Lender for my circumstance
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Just gets worse and worse! Joint mortgage
Hi all I have posted here a few times before regarding my situation. After coming up for 2 years, i still have a house with my ex boyfriend. He lives there, I moved out last August. I continued to pay the mortgage until April of this year when I decided that enough was enough, and he was to pay it. Well he never paid…
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Mortgage Advice needed
Hi; I've currently been to see a mortgage advisor recommended by a friend and they've given me the following rates for an apartment in Scotland: First time buyer, mortgage amount is 112,500 25 yrs, 5 year fixed @ 4.39% with GBP 1000 in fees. I don't feel particularly impressed considering they're supposed to be…
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Porting Mortgage Questions
I am so confused. I am on a long fix at 5.99%. It has never been viable to ditch my fix due to the large fees involved. My mortgage is paid up in June 2018 but as it stands the account is subject to early repayment charges until 30/06/2018 of £7,080! The account is in my name but me and my partner want to look for…
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Mortgage approved - lower interest rate now available
Hello, I applied for a Nationwide 4-year fixed mortgage a few weeks ago. The valuation came back fine and I got a text yesterday telling me my mortgage offer has been approved. However, I've just seen that Nationwide have dropped the interest rate from 2.39% to 2.29% - product fee, etc, is all the same. Is it too late to…
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What are lenders looking for?
I've been reading a lot of different stories about the new rules for lenders, and I (like many others) am panicking about my application being submitted. To help me keep some level of calm, it would be useful to know what it is the lenders are looking for on your bank statement? People say good money management, but does…
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Pay off interest only or repayment first?
Hi, I have an interest only at £30k and repayment mort at £78k - the interest is the same on both. If making an additional payment of £1k which should I choose it to come off? Repayment or interest only. Thank you.
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Affordability?
I realise this may be a ‘how long is a piece of string’ question. Is there a general rule as to how much mortgage lenders will lend (x salary)? I’m hoping to find out whether I can afford to buy out my OH, but have no idea where to start. I could afford the mortgage on my own, but I realise that there’s a lot more to it…
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Fix for 2 or 5 years?
Dear all, I know no one has a crystal ball but just want to hear people's thoughts. We just had an offer accepted on a house for £360 000. We plan to put down £190 000 deposit. We want to take a fixed mortgage but wonder if to fix for 2 years or 5 years? we can afford both. We want to take mortgage over 10 years because we…
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Job change during mortgage
Hello, some advice please! My husband and I are in the process of buying a house. Our mortgage has been approved and we have the survey/valuation next week. My problem is that I've just been offered a new job on a much lower wage (which I really want). Will the bank need any more employment details? I can still afford the…
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Let to buy versus HMO licence query
Hope someone can help with this, remortgaging current property to buy main home. Remortgage is let to buy, but I bought a 5 year HMO licence which isn't in use , it was cheaper to buy 3 years ago. Anyway will this be a problem if my lender finds out I have a HMO license against the property? Can they find out? Any feedback…
