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Mortgage chances with too many credit searches
Hi Just wondering if anyone has been in a similar situation to me and been accepted for a mortgage? I have no defaults, no missed payments, etc, ie. my credit report is squeaky clean. My equinox score is 448 and classed as good. However I have 4 credit searches within the past 12 months. 1 for a credit card with…
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Mortgage Chances
I plan to approach a broker but was hoping to find out it a mortgage was even an option for me yet. I have 2 defaults (one in 2010 and one 2011) both were settled within a month of the default. No missed payments since 2011. I have one credit card with £900 on which will be paid off by the end of this month but no other…
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Being a Car Loan Guarantor!
Hi All Hubby has offered to be a guarantor to a good friend for £5k to get a car which is required for work (car type specific). Will this affect his / our credit rating for us to get a LTB and BTL mortgages, which we will be applying for next week (if our offer gets accepted :P ) One house solely in my name, 2nd in both…
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Virgin money
Hi - I'm waiting on a decision (in principle) on a mortgage application for a new house. They have taking the valuation fee but not confirmed re mortgage.. Is this a good sign?! Thanks Zingy
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income multiples?
Hello everyone Hoping someone can give me a bit of advice as I have tried a few online calculators but they amounts are coming out quite varied If I have a salary of 30k then what is the max I would be able to borrow? Is it generally 4.5 X salary or does it differ from lender to lender? or is this completely irrelevant as…
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Getting a divorce, how do I workout the amount we are dividing?
We own 25% stake in a shared ownership property. When we bought it in 2010 the house was valued at £190k. The mortgage that we took out for the 25% was a repayment mortgage of £41k. The current balance is £36k. We have 20 years left on the term. We put down a 10% deposit of £7k as well when we first took it out. Spoke to…
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Mortgage advice please
Hi I'm after some good old MSE advice. My wife and I are looking to relocate from Cumbria to Hereford. We both have houses and mortages at the moment. We will sell both houses, we won't make a lot around 20k, but still a decent deposit on a house around 150000. Before were married , my wife had to go into a DMP in around…
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remortgage help please..
Hi My current fixed rate is coming to an end and the last date is 31-Aug-2015 without penalty. I have planned to re-mortgage with a different lender for a lower interest rate. As 31-Aug-2015 is a bank holiday would there be any issue to give the preferred date for completion as 01-Sep or shall I give as 02-Sep ? My direct…
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Husband's income regular but not guaranteed - will we get a mortgage??
Hi there, My husband and I are looking to buy our first house (we've been married for 13 years and renting together for 15!!!). I have a stable, secure (as much as it can be in this day and age!!) job and earn £29,500 pa. My husband has a casual '0' hours contract but has been consistently working at the same company on…
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When should I start shopping for a re-mortgage?
Both my residential and BTL mortgage deals expire on 30th Sept, when should I be shopping for a new one, I guess the timing is to do it in the next couple of months so everything gets transferred on the 1st Oct? It is also complicated with the fact, for my BTL mortgage I am wanting to add my wife to the deeds (for tax…
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Mortgage with a Fair and Good Credit Rating
Hi All, First time poster so please bear with me. My wife and I own our home. We have been informed that its worth £220,000 so selling it will leave us with around £45,000 of equity. My salary is £31,000 an dmy wifes is £21,500. Our mortgage at the moment is with Halifax. We have found the house we want to buy and the deal…
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Recommend me a broker Cardiff area
Hi all, As the title says, anyone got any pointers for good broker in the Cardiff..ish area.? Thanks.
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High rebuild cost
Hi all, We've finally had our mortgage offer through for our purchase (yay!). As part of the info sent across was a sheet entitled 'Automated Desktop Valuation'. This says that the property wasn't inspected, but has been automatically valued at £142500 (our purchase price, obviously). What it also includes is a rebuild…
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Help! Paid over the Home Reprt Value....will I get the valuation???
Hi everyone, I hope you can help? We found our dream home and went to a closing date with a number of bidders, long story short we won, offering over the asking price. We offered £161,250 and the property home report value is £155,000. While processing the mortgage application (which we sailed through budget/credit score…
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What is wrong with fixed rate mortgages?
I am looking to move and take out a new mortgage (the previous one was completed a few years ago). According to a lenders web site, I qualify for 1,2,3,4,5 year fixed rate mortgages. I cannot overpay the mortgage during the deal. All of this seems reasonable, but I thought fixed rate mortgages were unpopular. Was I right?…
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Guarantor for a buy to let mortgage
I was just wondering if anyone knows if any lenders consider a guarantor for a buy to let mortgage. I would like to quit my current job as have two other buy to let properties. I want to buy a third but have noted that a £25,000 income source is required to qualify for a buy to let mortgage. What I'm wondering is can I…
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Second Charges
HI Has anyone had issues with a second charge being refused by first mortgage? Newbury have just done so even though the 2 together would not be even half the value of the property. Issue I have re mortgaging with another mortgage for full amount is the property is owned by myself and mother, and she is now 70 and very few…
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Mortgage Refused
Hi I was offered a mortgage in principle subject to a 10% deposit and was told to go and find a property. I did so, and put in an offer which was accepted. Now 3 weeks later the lender has turned round and declined the mortgage unless I provide a 20% deposit. Is this right? My financial circumstances have not changed. I…
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Halifax 5% Deposit mortgage
Hi quick question on behalf of a friend. She applied for a DIP with the halifax (online) and was given an offer for double the amount she needs. However the DIP states deposit required 10%. Does this mean she is unable to obtain a 5% deposit mortgage with the halifax or does she just need to apply through a help to buy…
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Remortgage after divorce - possible 2nd charge?
Hi, I'm not sure if I've posted in the correct place as this query is to do with both remortgaging and paying my ex husband his share of the equity after divorce. We divorced 2 years ago, and I agreed to pay him his share of the equity by July next year. My intention was to remortgage for extra funds (I have had a mortgage…
