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should we pay off our mortgage?
Hi could someone explain how the different options could be of benefit to us? currently have £66,601 outstanding 1% repayment (old Alliance and Leceister) 12 years 3 months left. Monthly payments £481.19 Plan to move in 12 months will be upsizing so will need to borrow £200,000. Should we keep our existing mortgage and…
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Getting mortgage to buy out partner on non-mortgaged property
Hello, My partner & I have agreed financial settlement terms for divorce which include me giving him a lump sum to buy him out of the house. We have no mortgage as paid it off a few years ago. The mortgage would be less than 25% of the value of the house and I have a good income so can afford it. I'm just a bit mystified…
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What are the chances of a 95% mortgage..?
Hi there. My wife and I currently live in a rented 1 bedroom flat with our toddler son. Although we love where we live, space is becoming an issue. We don't want to move as where we live is 'mates rates' rent and it is allowing us to save for a deposit to buy somewhere bigger. We've got to the point where we have about…
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re-paying off mortgage
Hi Guys, bit of advice appreciated. Long time since I had a mortgage, and thinking of paying Sons off. He has a SVR with Santander, approx 6 years to go, owing Approx £20k +. So far, I know nothing about penalties, other than, he's allowed £4k a year, without penalties???? As a rule of thumb, do Santander, hit you with…
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Found a 4 year old default, can I still get a mortgage?
So, I have recently done a credit score check, it is very poor due to an old account that defaulted 4 years ago, it was an old address and the company changed so I hadn't heard from them. It is for £31, will this stop me getting a mortgage? I am in full time employment, 24,000 a year, no debt at all. A credit card I always…
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Early repayment charges
Hello, we are currently with Barclays and due to lots of different reasons we are having to sell up. The early repayment charge is stated as 1% of the balance repaid for the initial 2 year period Forgive my stupidity but what does that mean? Is that 1% of our payments during that time (£585 per month)? Thank you! Laura
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Getting Mortgage after split
Hi I split with partner few years ago but he is still on mortgage , on paper it looks like my salary wouldn't cover the mortgage we have even though I have been paying this myself for last few years . How do people get new mortgages for a property they already own in just your name ? My ex partner is not interested in…
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MSE News: Some mortgage lenders STILL haven't passed on last month's base rate cut
At least seven lenders have yet to cut their SVRs following last month's base rate cut, as further changes are mulled...Read the full story: 'Some mortgage lenders STILL haven't passed on last month's base rate cut as Bank of England mulls further move' Click reply below to discuss. If you haven’t already, join the forum…
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Joint mortgage single ownership
Hello, Me and partner applied for joint mortgage with intention of % ownership each as partner was putting up the deposit so will have made a larger contribution to the value of the property. I'm willing to pay him back half by contributing more monthly, or potentially borrowing money from my parents, but in the mean time…
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Letter of no interest northern rock??
Hi I have a massively underperforming endowment policy with sun life of Canada. I enquired about cashing it in and have been told I need a Letter of no interest from northern rock as the policy is assigned to them??? Got rid of NR a long time ago and have a repayment mortgage with Halifax. Can anyone please tell me what…
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Getting a Morgage with poor&fair credit
Hi Myself and husband are wishing to move house, he has poor credit and mine is fair. Poor due to missed payment on previous X card 5 years ago and was settled and same with a loan 5 years ago. We have never missed a Morgage payment. Is it worth us looking for a new Morgage? Or not bother. Our house is worth 130k and we…
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First Time Buyer Advice Appreciated
I am 30, I work for the NHS on £15,250 (actually £13,800 since I work 34 hours). I live with my grandparents, I have no children, I am not in debt and have almost £18,000 in savings. I am looking to buy a property and I would appreciate any help you guys can offer me. I am not knowledgeable with house buying, borrowing…
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Mortgage Term
Advice please. I'm trying to chose between a Nationwide & Santander, the main difference is that Santander will offer us a slightly shorter term, 10 years in instead of 14. But Nationwide will give us £750 cash back. As interest is weighted to the beginning of the mortgage am I right in thinking we'll save overall by…
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Planning for remortgage next year
Hi Currently on a fix deal with post office (bank of Ireland) ending in March 2017. Will be looking at borrowing around £150k with about 65‰ LTV. Just wanted to ask few basic questions to prepare for the remortgage (assume I will go with new lander as existing customer deals are not generally quite good) 1. When to find a…
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Advice on period between offer and exchange
Hi Just been told our offer is in the post, which is great. Obviously now we are handing over to the solicitor to do their thing. I don't really know much about this bit in between offer and exchange (we are FTB) and would appreciate some insight into this period. Is it a no-no to use credit cards in this period? We are…
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Help to choose which one best new lender or existing
I got a fix 10 year mortgage with YBS rate 3.89% on £64000 (8 years left and ERC £4500). I'm planning of moving house porting that mortgage and borrow more fromYBS, £66000 at a rate of 2.89% on 10 year fix. Then total £130000, (3.89% for 64000 and 2.89% for 66000). House price is 200000 rest of money will come from equity…
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halifax website problems
Hello, Is it just me or is anybody else experiencing problems with accessing various parts of the website, especially trying to do a Decision in principle, keep getting various server errors etc since 10am, I've reported a fault but they said they cannot find anything wrong and then they said there is a problem so I have…
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Shared Ownership Prison
I have had this problem for some time now. I bought a flat in 2007 post divorce. It was perfect at the time and shared ownership (75% owned by me). I took out an interest only mortgage. Fast forward a few years and I had met the man I should have met years before, we have 2 children now and long outgrown the flat. He has a…
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Buying House from "We Buy Any House" Type Company - Ownership less than 6 months
Quick question for all you mortgage experts. Looking at a house to buy and it turns out it is being sold by one of these "we buy any house" type cash buyer companies who have not yet actually completed on the purchase. It seems they try to time the sale with their completion on their purchase. Spoke to the mortgage broker…
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To Santander or not?
Hi, a question. we are FTB with 95% LTV. Our mortgage broker said that probably the best deal for us is Santander. 2 year fix, introduction rate 3.79 (as we are on 95% LTV, it's not the best deal, of course), no scheme or any other fees + 250 cashback. it's not the best of the best in case of the capital repayments or the…
