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Joint mortgage but want to buy another place...
Hello! So.... I've had a joint mortgage with my partner for 6.5 years now. All ok & never missed a payment. The purchase price was £103,110 and we currently have £88,500 left on it. Its costs me £228 month for my half. My father passed on in Jan this year and we are now in a position to sell his home. I will have approx…
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Credit search for aip + other questions.
I have an appointment booked with ybs. I was told for an aip a credit search would be required. Is this the case for all lenders? What if I get an aip but it takes a few months to find somewhere, and in the meantime a better deal springs up elsewhere? Also does the aip have to be for a specific mortgage type/rate or will…
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New job scenario causing First Direct to change their rules in their favour
Hi everyone, Frequent reader but fairly infrequent poster looking for advice please! I have recently applied for a mortgage through First Direct (FD) as a brand new customer of theirs. Everything was going more or less ok (few snags...) In my first appointment I asked the adviser what getting a new job would mean for the…
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Buildings insurance tied to mortgage
Some 15 years age we took out a mortgage and were advised we must take the building societies building and contents insurance, which were very much higher than were available on the open market. We paid a huge amount over the years and I wonder if anyone has any info on whether this is reclaimable just like ppl is these…
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Relocation
Quick one! Going through Mortgage process myself at moment but still considering buying at current location. 1. Because me and the wife love the area 2. She is currently working on permanent contract and we could get a bigger house with her wage on app. (If we went home she would have to give up her job leaving in on my…
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Large pay increase and mortgage
I am about to start a new job, my pay has increased considerably. The issue is that I haven't got the best credit history but it has been clean for 4 years. I have 4 defaults that drop off this and next year. If I was to put down a 50% deposit, would this open up more doors for me?
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Equity Loan & Conumer Credit Act
Hello Just over five years ago I bought a home on mainly a standard mortgage together with an equity loan (from a not-for-profit housing body) to add to my deposit to make it more substantial. The agreement was that payments would begin approximately five years after the equity loan was granted. About 18 months prior to…
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lost First time buyer seeking direction
Hi, I'm new to these forums so apologies if I am lacking some of the etiquette and language. I am wondering if there is anyone out there who can give me some helpful advice or guidance as I have to wait three weeks for an appointment with the financial advisor for my mortgage. My income is 17000 My debts are 3600 (overpay…
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Can't afford a cheaper mortgage????
So, I was a FTB in 2013. Used the government scheme FirstBuy. Have applied to access some of the equity in the house and Halifax say I can't afford the new mortgage (I am on maternity leave at the moment going back full time in July). However... I just re-arranged my mortgage to a lower rate as my 2 yr interest rate was…
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Mortgage Rates
Pretty new to all this. Just had an offer accepted on a house. We have been offered a five year fixed deal @ 2.94% based on us putting down a 25% deposit. We are a little limited in lenders due to my girlfriends employment (self employed director with only 1 years accounts) Is a 5 year fixed term a good bet at this stage?…
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Mortgage and dmp
Hi Can anyone help me. A couple of years ago my wife came clean about a debt problem. We were about £90,000 in debt. One of the creditors was very aggressive and took us to court so I used money from an endowment intended to pay off some of the mortgage. This was a partial settlement and the rest is on a debt management…
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Mortgage Advisor Advice required
Hello, I've posted an in depth analysis of my finances in the 'debt free wannabe' forum: https://forums.moneysavingexpert.com/discussion/5245542 It has been advised that I look to remortgage. Current situation: My valuation of home: £185k Mortgage required £154k 84% LTV Capital repayment Term : 20yrs My income is £52k for…
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Good Vs bad credit
Hi, begging for some advice. Me and my wife have agreed to divorce. I want to but her half the house out by borrowing the extra money on the mortgage and transfering the house into my name. However current provider said no - I have really good credit but my ex doesnt and refelcted on me causing the credit score to fail The…
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Mortgage
Hi I have a mortgage in principal for 278000 I have deposit of 120000 (plus bit extra top up) I have seen house for 400000 Is the above maths ok? i know i got the above in principal but any chance it can be higher? i know depending on credit score can be lower too but wanted to know if that's the highest figure it ever can…
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FTB Credit Scores & Application
Hello readers..... Having been rejected for a mortgage in January 2015, I am thinking of re-applying to another lender in the coming month. I have paid off all my loans, I save between £1200-1500 a month, I have been added to the electrol roll and use my credit card and pay off the balance in full every month. My equifax…
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Bad credit Mortgage
Hello, My partner and I have poor and average credit scores. We are slowly working on getting them back up but they do take time. We have £20,000 deposit for a house but cannot get accepted for a mortgage. Can you get a mortagage with bad credit? Who is the best person to ask about this? Thanks
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Help...Nationwide Mortgage!
Hello, My partner and I will be completing our first home move on Friday 29th May! I've just received a text from Nationwide saying that our solicitor has arranged for "Mortgage Funds to be released on 28th May 2015." Can any one tell me what this means?! or does this mean we start paying the mortgage on this date? Thanks,…
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Endowment terminal Bonus?
We have an Endowment with Friends Life that is due to finish in December this year. The original amount to be covered was £47500. Obviously the actual estimated amount at completion is going to be much less than this hence we have been paying down our outstanding capital accordingly. Anyway here's the query/concern. Last…
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New job when to apply for mortgage?
My husband works full time and I have been a housewife. I have a part time job starting on 1st June for 16 hours per week. (2 young children so unable to work more at present) We are in a rented house miles from nursery/work and family so are keen to move ASAP. We have found a house that fits the bill but I need to be…
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choices
hi all. i have to save £50000 in 5 years ( hopeful attempt £10000 a year) even locked in if necessary. Where is the place to put it for best return ? isa ? bank account ?( I'm with the halifax), some kind of policy ? thanks for any ideas bob
