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second charge on flat with builder/ remortgage
Hi all Im after some general long term advice. in 2008 and bought a flat which gave me 20% equity free loan on the property which i have to pay or start paying in 3 years time, i paid 99950 for the flat less 20% loan my mortgage with nationwide is now 60k. The flat has dropped in value since my purchase in 2008 is now…
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Buying a Bed and Breakfast
2nd question:-) If I only have a 10% deposit, is there anyway to go about setting up a B&B? Can I buy on a residential mortgage and then change use? Thanks!
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Declined due to sinking fund - help!
Hi all, My partner and I have applied for a mortgage with Leeds Building Society on a shared ownership flat. The valuation was done last week (10th Nov) and have just found out Leeds have declined due to the fact the block of flats has a sinking fund to pay for future repairs. Our broker has never heard of this before and…
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Mortgage implications of separate garage lease
Hello all, Me and my wife are currently in the middle stages of buying our first house (5% deposit), searches complete and fine but some nasty lease issues are holding us back from getting a completion date. Our solicitor does seem very good, but things are moving very slowly and we seem to have hit quite a major hurdle…
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Planning to buy with uncertain income.
At present I am a junior doctor looking to acquire a two year contract for my next stage of training, because such posts are more geographically stable than the last two years I had been hoping to buy in the next eight months given a suitable area to commute to the likely hospitals involved. The government however are…
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HTB Affordability
I've read a number threads on the site recently however I can't find any regarding the HTB scheme and affordability checks. When it comes to applying for a mortgage (hopefully within the next 12 months) do mortgage companies assess you on the full house price or just the portion of the mortgage you're taking out? For…
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Bed and Breakfast
Hi all! Just wanted some advice please, I'm a first time buyer. We came across a 'bed and breakfast' and although I won't be involved in it, it's something my wife has always wanted to do. We want to buy through Nationwide and the property is freehold. Is this now classed as commercial? If so we won't have a big enough…
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Advice Re Buy to Let
Hi we are currently in rented having previously been forced to sell our own properties in our respective marriage breakdowns. Will we will be eligible for a Buy to Let as this will be our only mortgage? Any advice would assist. Thanks :(
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Is it Worth Getting a Broker at This Stage?
Me again! Ok, so we've put in an offer on the house we want to buy and we've obtained a DIP from Nationwide (which I believe is one of the more reliable DIPs?) but I am totally panicking. I'm genuinely making myself ill with worry. Should we go to a broker at this point, or carry on ourselves? Info: OH Salary - £46k,…
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Mother's flat
Recently, my mother received notification that she can purchase her council flat worth £78000 for £23400 (i.e a 70% discount) via Right To Buy. She's not in a position to take a mortgage as she's retired, 73 and hasn't got the capital. My own mortgage fixed term is up for renewal and I had the idea of borrowing money to…
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Is it a good sign?
Hi I noticed that the lender has looked on my credit file on Tuesday and on Thursday my advisor sent me an agreement in principle for them Is this a good sign? Does it mean that the lenders were happy enough with checking my credit score. Or will they do another search when applying for the mortgage. As I have a few late…
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Getting a mortgage with my brother
I am a supply teacher and earn approx £20, 000 a year. However, because this is split between 3 seasonal jobs that I have held for the past 4 years, the mortgage I would be able to get just falls short to get the type of house I would like.I have been to an independent mortgage advisor who says he can see that it would be…
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Old endowment policy
Hi, I realise that it may be far too late to act, but we had an endowment with Scottish Life called a 'profitbuilder House Purchase Plan' from Dec 1993 until Nov 2001. We used a financial advisor. We received a letter in Jan 2001 from Scottish Life saying that that there had been a lot of publicity about endowment policies…
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Will we be able to get a mortgage?
We've just been told that the house we are renting privately is being sold so when our tenancy expires in 6 months we will have to move. We are wondering if it will be no more expensive to buy than to rent. There's some things going against us though. We are both 44 and FTBs. We have a lot of debt such as credit cards and…
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Changing mortgage to BTL due to relocation
Hi everyone, I need to change my residential mortgage to a BTL and looking for some advice please... I bought my first home in Belfast in 2009. After a new job opportunity I moved to London, and 6 months ago got a residential joint-mortgage with my boyfriend here in London. I obtained consent-to-let on my residential…
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Will it be possible for me to get a mortgage?
Hi All Sorry if something similar has been asked already, i'm just looking for some advice at the moment. I'm looking to get a mortgage for a new build flat, as a FTB. I was hoping to use the help to buy scheme (20% equity loan), and use a 5% deposit of my own, but i'm guessing that as I have a default on my file, that the…
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Haven't a clue what I'm doing!!!
Hi - I am looking for any good advice regarding my situation. My partner and I split up but we had bought a house together. We are in the process of transferring deeds, mortgage to her but I'm at a loss, I thought it would just be a case of signing things to say that I agree that everything is to be transferred to her but…
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Paying down an interest only mortgage
Hi everyone I am a new to this forum but if anyone has some useful advice as to where I am headed it would be most appreciated. My situation is I am 50 so getting another mortgage will be tricky and we are supposed to pay HBOS back in about 7years £120 000 we are on a low tracker interest only but not presently overpaying…
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New Part-Time Job During Mortgage Application
Hi All We currently have a mortgage offer for buying our house that is due to complete in late May 2016. Whilst we have been waiting to exchange contracts etc my gf has been offered the opportunity for a new job in a new career. We understand that her accepting this job would risk us losing the mortgage as its a new…
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Sole Trader to Limited Company
Hi, Having been a sole-trader builder to January 2015 I have accumulated six years of books that show a steady increase year on year. From January 2015 I was advised by my accountant to go limited. My question is.... Next year I am planing on buying a house, will my accounts from when i was a sole-trader be able to be…
