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Will a mortgage be possible?
I wanted to run through some figures to see if I would be able to get a mortgage of 200k Deposit 100k My earnings 27k Partners earnings 11k Monthly maintenance payments income £700 (bank statements and divorce papers confirm) Tax credits £400 per month Debts £300 per month car finance £2.5k on credit card
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Should I go direct in my case or don't have any chance?
Hi, I'm an Indian national with Tier 2 Visa and self-employed contractor since past 1 year with next 6 months contract extension foreseeable. I and my wife are planning to buy a house worth 560K on Help to Buy - Equity with 5% deposit and hence have a mortgage requirement of 420K. As you can guess, the possibility of my…
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Blue Stone Mortgages- has anyone used them?
Would be interested to learn of people's experiences? Also, would be great to learn of brokers you used to make application? Thanks
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Three months of bank statements for mortgage, but overdrawn in one of the months
Hi all, I want to apply for a mortgage and have been told that because they will be taking child benefit and tax credits into account, they want to see 3 months of bank statements. The issue is that the first month, I was overdrawn by £2000 (by limit is £2250) as I was in a job where I only got paid for 2 weeks at the end…
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Seller saying she would rather sell to first time buyer than investor - true?
Hello all, I saw a house today that is pretty much at the top end of my budget that I really liked and am considering putting in an offer. I was shown around by the owner and she said that although they have had two investors look at it, she would rather sell to a first time buyer as they seemed a tad greedy! It was…
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Help! Mortgage Broker advice - 1st time buyer
Hi Wondering if anyone can shed some light on a situation. I was given details of a broker who I contacted to look into arranging a mortgage for me and my partner. Our situation is tricky as some of my income is self employed and my partner 100% self employed. Further more I had a DRO 3.5 years ago. Currently we have no…
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Self-employed mortgage when earnings have declined
I've just discovered my self-employed earnings for 2014-15 are lower than my 2013-14 earnings. Does anyone have any experience of applying for a mortgage when this is the case? What generally happens? For example, do they take your most recent (lower) earnings rather than an average? Or do they say you can't have a…
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CHANCE CARD - Bank error in your favour
Strange but positive letter arrived today from bank about our mortgage. It seems when we re-mortgaged around 12 months ago. The bank say that they undervalued our property (by using an out of date index). Therefore our Loan to Value % (LTV) was lower than they thought and thus our 4 year fixed interest rate we took out…
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First time buyer ISa and credit score
Hello! My partner and myself are planing to buy a house and take a mortgage. We have 2 question: - we're interested in first time buyer isa to help us save for a deposit but there's an information that we can't spend this money on property for rent. We want to live in this house but thinking about possibilities of renting…
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FTB couple of questions...please help!
I am new on here so please go easy! My partner and I are currently renting and feel its now time to take the plunge and buy our first home together. We are in a very fortunate situation where we have been gifted in the region of £27,000 deposit. However I have a very concise spreadsheet of all my current commitments such…
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At what point should we go to a broker?
We applied for a decision in principle from our current mortgage provider, HSBC, however it was 10,000 less than we were expecting and hoping for from the online calculators. My husband wants to go to a mortgage broker to see how much they think we would be able to borrow from other places but I'm not sure whether they…
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Can I ask solicitor to draw funds from mortgage lender before exchange
My purchase process has been ruining for over 4 months now due to paperwork and delay, I double checked with mortgage lender with the mortgage offer. I am conscious of completion nightmare discussed over Internet. Since there is no chain on the sellers side and I am currently renting. Just be on safer side I would want to…
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In the middle of mortgage offer and made redundant
Hi, Another thread of this nature I'm afraid. We are moving to a slightly bigger house and are porting our mortgage plus looking to borrow more to make up the difference. Unfortunately it was confirmed yesterday that I will be made redundant, couldn't be worse timing. If I told our lender of the change in circumstance then…
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Advice please on my mortgage
I wonder if anyone can help, its a long story, so please bear with me. In 2012 I had to work way from where I lived so contacted my bank to get consent to let, I was told I could only get this if I took out a new product for 3 years at an interest rate of 6.19% so I did. I moved back into the property early this year and…
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Mortgage after a DMP
Hi Recently i have been thinking about what i am going to do about buying a house after my DMP finishes. Currently I have around 14 months of payments left to make, but i am hoping to increase my payments in the new year to speed this up. I really am desperate to get out of renting and get myself a house for me and my…
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A smidge under LTV
Another question! One of Martin's:money: mortgage tips is to put up a teensy bit more of a deposit than you planned so that you come just under the LTV threshold. So, for example, instead of putting up 10%, put up 10.5%, or similar. He says that this may avoid lenders scrutinizing you quite as badly. Is there any truth to…
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Re-mortgaging BTL property - tax implications of changing to joint ownership?
We are about to re-mortgage my wife's flat that is currently let out. The mortgage is currently in her name only but we want to re-mortgage in joint names simply because it makes filling out self assessments a lot easier when everything is split 50/50 (we are also joint directors in our own company that we draw dividends…
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Standard Life - Amber alert
Hi, Just had my second amber alert for my Standard Life endowment. This has a critical illness/life insurance element to it. Any thoughts as to whether i should get rid of it or hold on?. Tia x
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Self-Certify is actually due for a comeback???
http://www.mortgagestrategy.co.uk/banned-self-cert-loans-set-for-return/?utm_source=twitterfeed&utm_medium=twitter Discuss!
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deleted as no longer required and can't figure out how to delete!
