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Likelihood of mortgage approval with overdraft??
Hi, My boyfriend and myself are applying for a mortgage within the next few months as we are planning to live together in a bought house once my tenancy runs out in August. He already has a mortgage and will be selling his apartment. I'm worried as I have an overdraft of £2500 (which I'm usually in to to the max each…
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Daft Agreement In Principle/AIP Question
Hi guys, just a quick and daft question. I'm looking to get an Agreement in Principle sorted in the next few weeks. Let's say my AIP was for me to lend £100,000 for a £125,000 property (£25,000 deposit). Let's say I put an offer on the house for £100,000 i.e. 25k less than the asking price, and it's accepted. This means…
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BTL Broker and Survey paid but no deal - am I entitled to refund?
Please if any of you could help me with this I would be very grateful. A couple of years ago I wanted to get a BTL mortgage and I hired a mortgage broker. It was a face to face verbal contract, all inclusive: mortgage deal, conveyancing, survey, stamp duty, contingency. Nothing was signed, just verbal agreement I found 1st…
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How is affordability assessed?
When inputting in "committed expenditure" it says you should leave out stuff like bills and petrol etc as it will be calculated automatically. How does it work if I don't drive? Do I not put down my train ticket (commute, £230 monthly) as a committed outgoing if they are going to assume that I drive a car anyway?
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Mortgage and Credit Card Debts - Brokers?
Hi All I have a shared ownership mortgage at 25%. Visited the bank (Halifax) today and was advised no additional borrowing because of my financial commitments. Halifax have confirmed that once we purchase the remaining 75%, the mortgage repayments will be less than our current rent + mortgage. So we will be making a…
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My ex wants his name removed from the mortgage
Hello Here's hoping for some help. My ex wants his name removed from the mortgage as he has another mortgage and says that having two is affecting his ability to get loans. We have a child who lives with me. My questions are:- There is no way I could get a mortgage for the amount outstanding on my own. Is there any other…
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5% or 10% mortgage deposit
Hi all, I have been trying to work out whether to for a 5% or 10% deposit for my first mortgage which will probably be around £180,000. My initial thought was to save a 10% deposit to allow me to get better interest rates on a mortgage offer but considering the fact that I am currently spending £6000 a year on rent I am…
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Nat West - Decreasing term mortgage insurance
Hi - I have been trying to pursue a claim with Nat West/RBS for mis-sold decreasing life insurance which I was told I had to take out when I obtained my first mortgage in 1993. I already had other financial security in place. I managed to cancel this in 2007 when I contacted Nat West to query this and was told me it was no…
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AIP with Post Office, but want to apply with FD
Hi Approximately one month ago, I got an AIP from the Post Office, as we were putting an offer in on a house. Long story short, our offer was rejected for a lesser offer (:mad:) and it has taken us a few weeks to find another house we like. I've searched through various rates and have seen good rates with First Direct. My…
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HTB mortgage calculator
I have found an online calculator for a normal mortgage but if I'm right in thinking companies will lend you LESS when doing help to buy The calculator said we could borrow up to 187k would it be a lot less with htb?
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Ex Partner and Selling a Home
So this is my first post and a confusing one at that! Me and my now ex partner brought a property together 6 years ago, 2 years ago he moved out with a £2000 pay out, I then spent the next 2 years paying off debt and credit cards and working my way towards a mortgage so I could get his name off the property. In the mean…
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Hidden Mortgage Fees Scam - Yorkshire Building Society
I'm currently arranging a mortgage with YBS and therefore forced to use one of their "panel" conveyancing firms. It turns out, after (committing fees to the mortgage) that all of the quotes are significantly more expensive than a random quote from a local solicitor. Can I use the local solicitor? "Too time consuming for…
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Mortgage Offer
As FTB we received a mortgage offer from Natwest for a property we had an offer accepted and survey completed, the deal subsequently fell through when the vendor pulled the house from the market. We're now on the lookout for another property and intend to look in and around the same price bracket, once we've found one do…
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How accurate are AIP?
I had an AIP from RBS for £351k (for particular property). This was based on information provided and a soft credit search - the advisor seems to think this should be pretty accurate of what we could borrow. I did one with Halifax - another soft search - and that said £79k?! We already have a mortgage with Halifax and…
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Self-Employed driver and mortage
Hi all, I am considering becoming a self employed driver (HGV). Although I will be Director of my LTD company, I will also be an employee of my LTD company. With regards to obtaining a mortgage, will this be problematic as opposed to just working as an employee of a main company and paying tax through PAYE? I have been a…
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Cost of Adding a Name to Deeds (mortgaged property)
Apologies if I’m posting this in the wrong forum…it is kinda mortgage related! My partner has just moved in with me and I’m looking to put his name on the mortgage and house deeds. We’ve discussed all the financial implications, spoken to the bank who will charge us a fee of £160, but what I’m looking to find out here is…
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Halifax Mortgage Applications - Process
Hi All Im new here and wondered if anyone had any experience applying for a First Time Buyer mortgage with Halifax (we are based in Scotland, I am aware rules are different) We got our DIP and found a house, put in a bid and the bid was accepted!!! Our advisor put in the full application yesterday and Halifax came back…
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Nationwide - Random Audit
Looking for some guidance. We have been chosen by Nationwide for a Random Audit, we are currently looking to purchase a New Build and the Valuation has been carried out. The clock is ticking and I was wondering does anybody else have any experience in timescales it takes before we get an answer? Mortgage Broker keeps…
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Another Bad Credit Query :(
Hi All, Apologies for another bad credit query... but..... I understand that if the below scernario is possible I will need a broker, with that in mind my situation is as follows. Applicant 1 (me) Salary £75,00 per year. Senior Manager. Currently have 2 CC's to attempt to build credit rating. Balance c£800/£1600 available.…
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Valuation timescale
Full mortgage application sent off over 3 weeks ago and not really heard anything since! Had estate agents call me earlier this week to chase up valuation, so I rang broker to ask. He said lender confirmed the valuation has been instructed. Rang estate agents the next day, they said still not heard anything! So rang lender…
