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Impact of closing unused credit cards before applying a mortgage
Hi All, I have 2 unused credit cards which had got no balance left and would like to close down. Will it affect (negatively) for my mortgage application due in 2-3 months ? 1 account is with Tesco creditcards and another one with AMEX, how do you think this is going to affect me ?
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Understanding the Logic of Early Repayment Charges
Got a Nationwide 5 Yr fixed mortgage. This has an early repayment charge clause of 5% of balance remaining + £90 redemption fee ... though the latter appears to be £0 on my mortgage statements now, and I have some vague recollections of banks / building societies being told they weren't allowed to charge them any more. Now…
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Equity Release
Hi! Newbie here be kind :) My parents have kindly offered to help me buy my first home but to do so would be realeasing equity on there's it's mortgage free what's the options available is this a smart move? The property is a project and is on the market at a steal of 35k the idea is do it up sell it on pay back the loan…
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Should I pay ERC to get a better rate?
I have 10 months remaining in my fixed rate mortgage. I took out a 95% mortgage over 29 years with an interest rate of 5.01%. My ERC is £2,500. Based on current property sales nearby my home is worth £100,000. I owe £78,000 on the mortgage. Looking a current mortgage rates for 80% LTV I could knock £100 a month off my…
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Any more credit checks when completing?
Hello all We have exchanged on a new build (back in August!!) and currently waiting as patiently as possible for it to be finished. I am just curious as to whether there will be any other checks now? We are not looking at applying for any further credit or anything but have seen some furniture we would like to purchase. If…
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Using my cash to help children buy a house
Hello there, The usual story. My daughter and her partner are paying far more in rent than they would pay for a similar property on a mortgage, Money is tight as they have a new baby, and are getting a business off the ground, and I suspect their credit rating is not fantastic. For the first time in my life, I have a…
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'Low' deposit but high monthly income - options
Hi all, Apologies if this is in the wrong forum but I am looking for some help... We are looking to buy a new house next year and have been working out budget etc. we both have full time jobs and I own 2 buy to let properties. We currently live with parents. The property we are looking to buy to live in will cost around…
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HTB Scheme Ending Dec 2016
Hello, I wondered if anyone knew whether mortgage offers from lenders enrolled with HTB i.e. HSBC would still be valid for buys with a completion date after December? Than you
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Am I being realistic?
Hi everyone. Next year, I'm going to try to get a mortgage. A couple of family members think I am unlikely to get one and wondered if anyone else has an opinion. When I'm ready, I will definitely use a mortgage broker because I know I am not the ideal candidate. I am self employed and have been for almost six years. I pay…
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Avoid Early Repayment fees
Hi I am hoping to sell my current property but am still in the middle of my initial 5 year fixed mortgage so I assume there will be some early repayment fees. Is there anyone to avoid this? I was not planning on buying another property and moving into the house in my husband owns but I wondered if i moved my mortgage to…
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Can we get a mortgage?
This is my first post. Im looking for some advice on whether it is worth us even applying for a mortgage in the near future. My husband has an excellent credit report with no missed payments etc. However I have 4 defaults that are almost 5 years old. We have a 15% deposit and want to borrow roughly 1.5 times out joint…
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Mortgage Options / Opinions
Hi All, We currently have a 3 bed terrace house which has been valued by estate agents at £295k (in the south east on the Ldn/Btn main line, about 25 mins walk from the station). We have approx 100k equity in the current place (190k remaining on a tracker). My wife has taken a new job in London, and we're considering…
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Santander Additional Borrowing
Hi all I'm looking to get some additional borrowing on my existing santander mortgage in order to do some works to my house. Does anyone know the process for this?* Will they go through a full mortgage-style application where they go through all my expenses etc? * Will there be a house survey to determine it's value? I…
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Proof of funds for solicitor
Hi all, In the process of going through a mortgage etc at the moment, doing all the paperwork for the solicitor and it says : For our deposit, some is from me and some from my partner, of course statements are pretty straight forward for proof of funds, but the written confirmation, is that just a simple as writing out a…
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How flexible can Equity Release be?
Not old enough just yet for this, but was wondering what is the most flexible solution on the market at the moment, and do you think there will be pressure in the future for even more flexible solutions to become available? Does such a scheme exist where you can set up to release a relatively small monthly "income" rather…
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Barclays / Woolwich Mortgage reserve
There has been another round of letter trying to reduce the mortgage reserve amount. My mortgage dates back over 10 years, is there anything to stop them changing it? They are wanting to wipe off 10's of thousands and take it down to a few hundred. I may not use even a quarter of it in a few years to do some updating, but…
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Time limit for a mortgage decision?
Hi Does anybody know whether there are any EU guidelines or statutory limits on the time that a bank can take to make a decision on a mortgage application? I first submitted my application around 7 weeks ago and am still waiting on the bank's decision. At this point I'm in danger of losing the apartment I'm trying to buy,…
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Deed form
Ok got our deed form signed it got witnesses but think I've messed it up I went over my signature again now it looks bit like a black blob can we do another or will it be ok :/
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Asbestos problem
We are close to finalising our deal to buy an ex council flat and we were sent a letter about asbestos in the block of flats. We know this is the norm for building of the age it is but when speaking to the vendors they do not know where the asbestos is or the level of asbestos which is a legal requirement and they are…
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Mortgage for a derelict property or renovation project
Hi, I'm new here and I'm posting as I have a goal I'm trying to acheive. I'm a Gas Safe registered plumbing & heating engineer with some experience in all other aspects of the building trade. I want to start buying, renovating and selling houses that are either derelict or need substantial renovation work carrying out,…
