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Remortgage During Fixed Term - Same Lender
I am 2 years into a 5 year fixed mortgage at 3.49%. I have looked at all the figures and it seems I will be much better off remortgaging as long as the new rate is below 2.28%. Searching the deals we could get now, the best is at 1.99% and it is with the same lender as we are currently with (HSBC). I am wondering if anyone…
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In consultation while mortgage in approval
Hello My GF and I are buying our first home. We have had a offer accepted, have received a decision in principle, and have applied for the mortgage with Halifax. Yesterday i was informed that the business I work in is to be shut down at the end of February, at which point i will be made redundant and I have now been put…
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Remortgaging with credit card missed payments
Hello! So our current mortgage fixed period ends in April 2017 so will be looking to sort a new deal. My partner has managed to pay his credit card late 4 times in the last 18 months, not due to being unable to pay but as he cancelled the auto payment from one account and didn't set up a new one for ages. Total stupidity…
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Seafarer / Non-Standard Mortgage App?
Hello All Lurker here, just seeing if anyone has any specialist know-how or similar experience to my situation. I work away at sea, UK company, resident h ere and do my tax returns here. Paid in £, monthly, but it's not an evergreen contract i.e. I get paid when I work. However, it's a permanent employment on rolling…
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10% overpayment on mortgage allowed each year
Hi If you are allowed to overpay the mortgage by 10% of the opening balance at 1st Jan of each year, is there any advantage of paying up to the full 10% each year ? or can you say wait for 5 years, and then make the 10% overpayment with the obvious higher balance?
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duplicate thread
duplicate thread
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Loans to Make Mortgage Overpayments
Hi All, I have a mortgage with £66,000 left on it at a rate of 4.69% with three years left on the current term and 18 overall. I am allowed to make overpayments each year to the value of 10% of the remaining balance. I was advised to take out a loan at a rate less than 4.69% to make the 10% overpayments taking into account…
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How long do mortgage offers last?
Hi all, My current fixed term expires on March 31, 2017, so I'll be looking to remortgage to a better deal on April 1, 2016. A lot of guides seem to suggest that while some providers used to guarantee a rate for six months after acceptance, most have now cut that down to 90 days or less. I haven't been able to find a list…
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Should we remortgage early?
Hi guys, just been reading Martins money-saving email and it warns of mortgage rates going up. We are currently with Halifax on 4.09% with 28 years and 9/10 months left. They have an ERC of about 6k I believe as the mortgage fix isn't due to end until end of Sept next year. Currently pay 1124 a month. Just done a quick…
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Halifax Process - with security team / underwriters
Hi Wondering if anyone can put my mind at rest. Broker advised valuation been done but the application is with the security team. Do you think he means the underwriters? It was too late to call him back to confirm what he meant and I'm now worried what that means.
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Do I have to pay my mortgage broker before the lender has approved the mortgage?
I have been contacted by my mortgage broker and the lender we have applied to for my mortgage has booked the valuation for the property. They have not confirmed if they have approved the full amount we need for the mortgage yet. The mortgage broker says she will be requesting payment for the application (not sure if she…
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Mortgage - self employed
Hi All, Me and the family have recently moved back to the UK after being overseas in Australia for the past 5 years. We have maintained our home in the UK and have an existing mortgage on it. However, since being away our family has grown and we have out grown our UK house and must move to a bigger home sooner, rather than…
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Mortgage 5% rate
Hi all, I know there will be experts here so just wanted to run this past you please. I had some missed payments (no defaults) in 2015, around 3 and then carried on paying normally. The missed payments were due to careless behaviour. I have credit card debt of 17k, which I pay. I have applied for a mortgage and have been…
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Mortgage deposit on spouse name but she is not on application
Hi I need an expert advice on the circumstances I'm in rite now. Basically, I was saving money for the deposit and just in case I don't use them I tend to transfer my savings into my Mrs account. My wife then buys a premium bonds from those savings. Now when we found the property and we thought we can get a mortgage we…
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95% mortgage success stories
Hi all As there seems to be a lot of negative stories on here and bad news for people I wondered if anyone could share success stories of successfully being accepted for a 95% mortgage? It would be useful to see some actual figures as well in terms of deposit, house price, financial situation ect just to give people an…
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met the 'guide price' but being made to wait... is this fair?
Hey everyone – hoping someone can advise me on my current predicament! I've made an offer on a flat. Now, 3 weeks ago a flat in the same block was on the market for 5k less than the one i'm currently looking at. I made an appointment to view it, but it was taken off the market before I got chance as an offer had been…
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Remortgage or use up savings
I am doing work to my house which will cost approx £140k. This is, by coincidence, pretty much the same as my lifetime's savings. I have an existing mortgage of £72,000 at a fixed rate of 2.99% which has another 2 years to run. I am unsure how to fund the work. I can get a 5 yr fixed rate mortgage at 1.89% but I am getting…
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Moving Home - Mortgage question
We currently have a mortgage on a property worth £95k and are looking to move to a bigger house next year. We aim to have the mortgage down to £55k outstanding before moving. We are looking at a house around the £240k mark and calculations suggest that I will need £180k mortgage. I just wondered how this would work - does…
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First Time Buyer - Unusual Situation
Hello All, Some time in 2015 before the Stamp Duty changes were implemented, my dad (who is not resident in the UK) asked me to purchase a flat for him to rent out. As he was not resident, it was easier for me to get a BTL mortgage, which I did and got hold of the apartment. So, technically, I am the owner of the property…
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Which rate is better? A maths question
Dear all, Something about maths. I hope you could shed the light with me. I happened to copy some of the rate from a bank. Here is its offer: 1.) Mortgage/ Initial rate/ Followed by our SMR 2 yr Tracker / 1.24% / 3.74% Base rate +0.99% Overall cost for comparison / product fees/ monthly payment 3.3% APRC / £999 / £687.19…
