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Mortgages when unemployed
I have been made redundant and am considering starting a buy to let portfolio. I am therefore currently unemployed and dont plan to work again. I have 700k equity in my house and am thinking of downsizing in order to give me a smaller mortgage free property to live in and then 300k spare to start of my property portfolio.…
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Buy to let mortgage
Been pondering buying a second place to let out for a while but havent had the money to do so Anyway I have seen a flat for sale for 60k that has tenants in paying £450 a month. I'm not sure where i would stand getting a mortgage for it though I have about 18k to put down on it Myself and my sisters own my mum's old place…
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Endowment selling .... where's the best deal?
Hey folks Got an endowment policy that i'm not using to pay mortgage (switched a few years back and should have it all cleared in a few years thankfully .... finally got sensible with my finances) However, I never did anything about the endowment, passed all the timebars, etc (stupid!) but looking at it now, it's making…
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Mortgage when you're old?
Hi, this might be a cray idea, I'm wondering if it could work. I've a house in London and my partner and I would like to move out in the next few years when we get to retiring age. Is it at all likely that any lender would be willing to lend enough for us to get smaller property in a cheaper area that would be paid for…
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Don't want to be 'Together' anymore!!
December 2005, I took out a Northern Rock together mortgage, at the time, due to my lack of deposit after just going through a divorce, in total I borrowed just under £130k, amount in my sig, actual house price £112k. Anyway, I've tried really hard, and managed to get out of negative equity, thanks to the market, to. I…
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Solicitors
Hi :) Our valuation is on Tuesday, and have been told now is the time to instruct our solicitors to start their searches, etc. We have chosen to go with Raleys, it is a no completion no fee service, so if for any reason we don't complete they do not charge us for their time. We have paid a £200 initial fee which I don't…
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Mortgage Questions
Hi everyone! First time posting in this forum, just have a couple of questions: How far back do mortgage lenders usually check on your credit file? A friend of mine recently purchased and he said theirs (Halifax) checked two years, is this the average? We will probably be using Santander to let you know. Also, does your…
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Older persons with mortgage diemma.
Genuinely asking on behalf of a friend. His parents in law are both retired and looking at their mortgage and possibly clearing it after lender contacted them for settlement - I assume the term of the mortgage is up. FIL - 68 on full state pension plus prison service pension - in remission for bladder cancer & has early…
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Mortgage Overpayments
Hi Guys, I'm looking for the best mortgage where I can overpay? Is it an offset mortgage? My friend keeps talking about an Australian mortgage? Basically, some months I earn big chunks of commission where I could put £5k+ in and I'd like to throw that into the mortgage, without being hit by huge overpayment penalties. What…
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Costs for stamp duty/renovations
Hi, We are selling our house and moving to a bigger house to accommodate our expanding family. We have an AIP for more money than the budget we are looking to spend, however wonder if we could borrow more than the cost of the house so that we could add the stamp duty costs and any costs for renovations on to the mortgage.…
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Santander refuse new mortgage
Hi all. Here's a weird one. I have had a bank and savings account with santander for over 20 years, plus two past mortgages - the current one for over 7 years. Never missed or made a late payment. I have had a ccj, not for bad debt but had to go to court as I belive I didn't owe the money, obviously I lost. The ccj comes…
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once ccj dropped off your file, how long till we can apply for a mortgage..?
Please can anyone advise us, Once ccj has dropped off your credit file, how long does it take for it to go off your credit history? We had a ccj almost 6 years ago and want to get a mortgage soon and I was hoping to apply the month after the ccj falls off? But is this unrealistic. We fully paid the ccj off, have had no…
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Personal Guarantees
Hi My wifes son is just splitting from his girlfriend and he has taken some advice on the house they recently purchased together. In a nutshell the bank have said that he can continue with the mortgage on his own providing he has a personal guarantor. I have been married 5 years and the house we live in is fully paid and…
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Chances of this income multiple- FTB
Hi all, Waiting for the tax year to end so i can submit 1st year self employed accounts- change in structure of work pay. Looking at new build and using H2B. I plan to do the following: Purchase price £215-£220k deposit -10% H2B - 20% Mortgage 70% No o/s credit (car lease to finish) at time of completion and no defaults at…
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Help! Cancelled credit card before mortgage application - have I made a !!!! up?
In a bit of a panic with this one, hope someone can help! My husband and I are FTB's intending to use the HTB equity loan scheme. My credit score is excellent and so is my husbands and thinking it was the right thing to do told him to cancel a credit card that he'd never used but had for years. This morning his Experian…
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Mortgage deal ending, what now!?
Hi there, My 5 year fixed deal with Nationwide ends next month so I'm considering what is best to do now. House is worth £180k and mortgage is at 44k. Remaining term was 18 years. I was paying £301 per month but I see I could get a two year tracker deal with Nationwide again and pay £237 per month. The good thing about…
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10 year fixed or 2 year offset tracker at lower rate
Anyone got any advice? We're hoping to pay off our mortgage in the next 10 years. We can hopefully get a 10 year fixed at 2.89 no fees. However, we currently have an offset mortgage which if we give up we won't be able to get again to new income levels required. The offset is 1.49 above base rate for two years, so…
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Probably a silly question....
As my name suggests, this really is a quick question. My partner and I are scheduled to complete on a property on March 11th 2016. The whole process has been rather smooth and I suspect the hard work is all done by now. The quick question is related to completion. How often does a mortgage fail here? Nothing has changed,…
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Obtaining a mortgage on a flat next to commercial premises
My partner and I have recently had a mortgage on a ground floor maisonette declined as the bank do not consider the property to be suitable. Through further conversation, we were advised that the bank make it their policy to not lend on houses next to or near commercial property. Unfortunately, our maisonette is next door…
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Help to buy mortgage guarantee
Hi has anyone applied for a 95% mortgage with help to buy mortgage guarantee? How did you find the process and which lender did you use? Thanks