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help to buy
Hi just wondered if help to buy schemes are different in each part of the country. We applied to the help to buy south west after we got a mortgage agreed in principle and we found a house and had offer accepted. Filled in help to buy form with broker and he sent it off last week. Had an email today saying it was declined…
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Understanding HSBC products and their interest rates
My girlfriend and I are with HSBC so we are planning to open a mortgage with them (50k deposit, 250k flat, 15 years). I was looking at their offers and I don't really understand something: most of the products have a fixed rate for 2 years and then go variable, like for example this is one that I like: 2 Year Fixed High…
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Mortgage Audit
Hi I wonder if anyone could help me. We applied for a mortgage through a broker 11 days ago and it has been pulled for an audit check. I understand that this is to check the information provided is correct. It is normal that an application is audited before an offer is made? We have an agreement in principle but as far as…
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One account reducing our facility
Not sure if anyone can help or has experience with One Account mortgages ? We took out a mortgage with one account back in 2004 and had an agreed limit - we have never been in arrears but haven't been able to overpay for some time as we were made redundant and it took many years to get jobs paying the same. The bank has…
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SA302 Profit Query
Hi all, I just have a query about a section of my tax return. 1. )I'm a cameraman, and spent a lot of money on equipment last year (13/14). I put this all through as business expenses, when much of it should actually have gone down in the Annual Investment Allowance section. Not to worry - I believe I can go back in and…
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A,B or C? Halifax
Hi, Currently looking at a shared ownership flat 25% share 45,000. Looking at 20% deposit so 9k Applicant 1 Balances Credit card 1799.00 Creditcard 500.00 Loan 430 = 90 a month.(can have this paid before morgage app) Income 18500 goes up 1st of April to 20,000 Applicant 2 Balances Creditcard 2100 Creditcard 500 Oversraft…
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How to work out who's owed/owing what
I bought my house with a friend in September 2006 for £129500. My friend never lived in the property but provided 25% of the deposit ad agreed to pay 25% of the mortgage payments, while I provided the remaining 75% of both. He was named on both the deeds and the mortgage (I am not sure if the percentage ownership was…
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Bank has admitted mis-selling, now what?
Hello, My bank has admitted to mis-selling me my mortgage. They have offered me a new mortgage and £200 compensation. We want to accept the new mortgage however feel we have lost thousands in overpayments and loss of interest in offset savings. If we accept the mortgage and £200 compensation ( the acceptance form combines…
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First time buyers from family
Hi we are first time buyers and buying a house owned by parents. It has been valued at £200,000 but they are wanting £140,000. I have £11k car loan to pay off and £4k credit card loan to pay off. I earn £30,000 and my partner is self employed earning £14,000. We have no deposit but have been told the "extra" £60k value of…
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Benefit in kind tax on a staff mortgage
Hi I have a joint mortgage with my wife. I work for a high street bank and she works elsewhere. We have bought a property for 170k. We have 152k mortgage on the property and around 75k of that is on a staff mortgage of 0.5% HMRC are however wanting to take extra tax on the whole 152k as opposed to just the 75k which is…
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First Mortgage
I have applied for a 124,200 mortgage with 10% deposit(13,800). Total 138,000. Offer accepted was 135,000. Is it okay to borrow more than what I am paying for the property. I have a mortgage in principle. And have already submitted by full application. Thanks in advance :)
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Mortgage broker - deals provided by high street providers or not
After you've gone through a broker, and they found a deal for you. Was the best deal a high street provider or a non-high street one? Please state the name of the mortgage provider, and mortgage broker used. Is is true that best deals are provided by non-high street providers? I know it depends on your circumstances.
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mortgage with property abroad
Hi me and my partner are trying to get a mortgage( first time buyers) and it all looks good but it came up that I already owe a property( mortgage free, abroad, where my family member lives).property is in my name but I don't cover any costs. Is it potentially a problem for the bank? Are they going to ask for any documents…
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Getting a Second Mortgage
Hi all, Some advice/thoughts please : I own a property in South Wales which I rent out - it's worth just short of £100k, with a £59k consent to let mortgage from HSBC. I now live in the midlands and am self employed. I currently rent here, paying £450 a month, and am thinking about buying up here. I've been to HSBC…
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Early Repayment Charge
Hi, Are they paid via solicitor on completion of house move/new mortgage or within 30 days or whatever terms are set? Also does the same apply when credit cards are to be paid off on completion, do i have to evidence funds pre-completion. Lender is Natwest if that makes a difference. Thanks in advance
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Help to Buy - My Understanding
HiAll, I’mjust wanting to understand and confirm how I perceive the Help to Buy EquityLoan scheme. I'm going to work off buying a new build for 100k to keep the calculationssimple and as a First Time Buyer. Forinstance, you choose the home and visit the builder to start off the process.You first require to have a DIP from…
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Overpayment on Help to Buy mortgage vs. saving for to repay equity loan
Hi In September, my partner and I bought a flat using the government help to buy equity loan scheme. We got a 3yr fixed rate mortgage at 3.24% which allows for up to 10% overpayment per year. When the fixed term on the mortgage expires, we want to repay the equity loan, which is at current market value 56k, and take out a…
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What date is stamp duty effective?
Hi, Taking into consideration that stamp duty will change in Scotland on the 1st of April to use LBTT I am hopefully going to be getting an offer accepted on a property soon and want to know from what date is stamp duty effective from? For example say the offer is accepted this week and it then takes the typical 8-12 weeks…
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Trying to buy ground floor flat to convert back to full house!
We own a duplex apartment which is the top 2 floors of a Victorian conversion and now have a chance to buy the ground floor apartment to convert the property back into a full house. We are having a lot of trouble trying to get someone to advise us on how to do this....Does anyone have any ideas?! Our current lender wont…
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Best way to extract money from BTL?
Hello We currently own and live in our house, we remortgaged six months ago. The house was valued at £640k, the mortgage was for £415k. We are expecting another child, so we are looking to move to be closer to family. However we want to avoid selling the current place if possible. We have spoken to Furness building…
