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Moving abroad
Hi there, I currently don't have a mortgage and pay £525 in rent each month. We've been saving up to move abroad in 2018, and so far have about 80% of the minimum we need to move. Property prices where I live are reasonable. We'd be looking at a decent 2-3 bed flat for around £80,000, and our repayments would be £400 odd a…
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tapered early repayment charges???
Hi, I am just researching MTG products and looking at the limits on early repayment. one im looking at states... "10% capital repayments are allowed each year without incurring an Early Repayment Charge". BUT im not sure what this next section is about??? "Tapered Early Repayment Charges apply up to and including 31 Aug…
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Remortgage and pay fee or not?
Hi all, im getting myself in a financial confusion here, so wondered if anyone could help, our fixed rate mortgage is 3.49% and we have it for another 2 years and 2 months, i was debating paying the 5% fee and moving to a lower rate and reducing the mortgage term, but im not sure if it is financially beneficial, our LTV is…
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Bad Advice circa 2007
Hi guys and girls. I took out a mortgage in 2007 from Halifax - Was advised to take PPI or the "guys upstairs" wouldnt pass the application. Was also told to cancel the PPI after 2 or 3 months just to get it passed. We all know the score there. Thats not my biggest issue. I like a bit of risk and im quite happy to take a…
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Should we ask lender to recalculate monthly payments after overpaying?
We've had our mortgage for a couple of years and have overpaid fairly significantly. We're on a lifetime tracker with unlimited OPs. Our lender (HSBC) uses OPs to reduce the term, so our monthly repayment is the same as ever. Our mortgage was originally for 28 years and we're aiming to pay it off in half that time. I'm…
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Getting a joint mortgage with poor credit
I am currently in a debt relief order which I will be discharged from in October 2016.The debts totalling approx 15k. The debts were from 2012-2013 ( bad period of my life which i regret hugely) My partner Lauren has a 10/10 credit rating and we are hoping to get a joint mortgage. She earns 16k and I earn 26k. deposit we…
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Mortgage Offer Received - Now Base Rate Has Dropped
I've received a mortgage offer but not actually started the payments or anything yet. Does the base rate drop affect this? It's a fixed deal for two years, so I guess not but didn't know if I could query it because we've not actually started it yet.
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Remortgaging
I bought my flat last year on a 90% LTV 2 year fix. There is about 80 years left on the lease. I've already started the process to renew the lease but I don't think it will be completed by the time I come to remortgage. Am I going to have a problem accessing the best rates because I will have less than 80 years on the…
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Nationwide mortgage - moving house - interest rate cuts
Hi. We are about to submit our application for a new mortgage for a house move. We owe £100,000 on Nationwide's BMR and our payments will now reduce by about £25 due to the interest rate cut. We need to borrow £300,000 to move on a 80% ltv. We have a decision in principle and have submitted all paperwork. We were about to…
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Affordability vs credit checks
Hi all, Newbie here. Just wondering whether anyone has any experience on whether affordability can override the credit history? My credit history is not great, but with earnings of £70,000 a year, a 30% deposit and only looking at houses in the region if £150,000, is there anyone out there willing to do business on these…
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How 2 repay 2 mortgages with different rates
Had a revelation today that seems so obvious I can't believe I haven't thought of it before....want to check I haven't missed something before I go ahead. You've all probably been doing this already! We have 2 base-rate tracker mortgages. One for approximately £120,000 @ 0.99% above base rate and one for approximately…
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Base Rate Drop
My fixed rate mortgage is due to end in September should I fix again or hold fire and see what happens with Mortgage rates?
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Nationwide mortgage
I applied for my mortgage which was all fine and accepted in June, I have fixed to a 5 year deal. I'm buying a new build with help to buy and I have exchanged contracts, due to complete September. Can I change my deal? I'm sure I read somewhere we can change the product chosen if we want, happy to stay with nationwide but…
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any foreseeable reason interest rates could go up in next 5 years?
Hi, I'm debating whether to switch to a 2 year or 5 year fix. I can't see interest rates going any lower so reckon fixing is better at the moment. The 2 year rate is £816 a month for me, and the 5 year rate is £844 a month (at the moment I'm paying £902 on a previous 2 year fix). What possible reasons could there be for…
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Remortgage with poor credit history
This is more of a curious/Thinking out loud/I wonder type post...appreciate its "How long is a piece of string" but the wait to find out is killing me...:j Ok so we have a mortgage with Landmark Mortgages (Previously NRAM) and they dont offer remortgages or any deals and doubtful they will in near future. Current situation…
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MSE News: Just five big mortgage lenders commit to cutting their SVRs after base...
Mortgage providers appear reluctant to commit to reducing their standard variable rates following the base rate cut...Read the full story: 'Just five big mortgage lenders commit to cutting their SVRs after base rate drop' Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how…
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is it worth me applying for this mortgage
I originally took out an interest only mortgage and endowment. When there was the big scare about endowments I changed my mortgage to re-payment (just had to pay a transfer fee) and started again at 25 years. I have kept the endowment on at the same rate as it includes life assurance and critical illness cover. When I…
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Better to pay off mortgage, or leave it as is?
Hi, I have a fixed rate mortgage (5.29%!) until August 2018. I have the means to pay the total balance of ~£15k off. Generally speaking, is it advisable to switch it to a variable rate (6% fee) and keep it running - or should I just pay it off altogether and get it done with? I have no products which would pay off the…
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130 k mortgage with 100k equity?
Hello Can you please help? I earn roughly 27k annually but would like to remortgage for a better rate. My mortgage is roughly 132k with the property valued at approximately 220k Can anyone please offer some advice on whether I might be able to get a mortgage based on these figures I am concerned that I'd need to borrow…
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Right To Buy Mortgage
Hi, Im looking to buy a council house using my Mothers Right to Buy. We currently have a joint tenancy and have both lived in the property. My mother qualifies for the maximum discount so she will be the first named applicant. My mother does not wish to apply for a mortgage nor do she want to be named on it. As she is 62…
