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Early repayment charges - help!
We had a mortgage free property and took out a re mortgage against it to start a property renovation business. Then Brexit happened! We bought and sold one property but because of the poor market, made no money. We now have the value of the mortgage sitting in our bank account. We got a fixed rate for 5 years and because…
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Remortgage/ Home equity loan for extension
Hi Property in London is so expensive so I have decided I want to build a two storey extension on my parents house, that way i'll have two rooms and a loft conversion upstairs, as well my own small lounge and kitchen downstairs. The house is worth 400k market value, and there is 170k left on the mortgage, which is in my…
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MSE News: Warning: Cheapest-ever mortgages are disappearing – ACT NOW and save £1000s
Review options this Xmas in case best buys vanish, eg, 1.17% 2yr fix...Read the full story: 'Warning: Cheapest-ever mortgages are disappearing – yet ACT NOW and you could still save £1,000s' Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
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Where are the free legals
Did I imagine it or did most banks provide free legals for remortgaging last year? Everyone (Leeds, Progressive, Accord, HSBC, Santander, NW) are showing no free legals on the MSE search assuming it's accurate. I've already found one inaccurate part of it Today though so maybe it's not true?
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Remortgage with increased equity
Hi all, I'm approaching the end of my fixed rate mortgage and I have a question around the value of the house. I bought the house in a pretty poor condition as a repossession from the bank and have spent the last 2 years slowly renovating it to a high standard using my own funds. At the moment I'm not ready to sell, but is…
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Stamp Duty Land Tax/Subcharge
Evening all, a quick question as I am not finding the answer to easy to come by on the directgov.uk website. If Mr Smith and Miss James are about to become Mr and Mrs Smith in April 2017 and both will be occupying Mr Smith's home and this becomes the marital home but he only is responsible for the upkeep on the mortgage.…
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Joint house
I'm in a long distance relationship (Liverpool and leeds) the other half is currently looking at jobs in Liverpool and when she gets one she will move and we will look to get a house between us. We both own our own houses, Iv had mine for a year on a 30 year mortgage I'm looking to over pay over the next year to get some…
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Mortgage Funds Released Before Exchange and Completion
Hi All! So my solicitor has told me that they have had to re-request the mortgage funds and I was advised to check with the bank status. So get this, when I call them, they tell me that the funds were released over a week ago???? My bank is Halifax. I am meant to be exchanging tomorrow and completing on Thursday, will this…
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Likelihood of Mortgage application being accepted
Ive just applied for a 95% first time buyer mortgage with Nationwide (total mortgage of £72,675) , Ive had my DIP accepted with no problems & the mortgage payment will only be roughly 27% of my monthly income. I have no debt and my only direct debits only amout to 4% of my monthly income. This was all done using a mortgage…
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Remortgage now rather than post brexit?
As theres a lot of uncertainty around whats going to happen post brexit.. (probably something between nothing and the apocalypse), Im wondering if I should pay a 2k early redemption fee and secure another 5yr deal, rather than just waiting to see what happens in April 2019 when my current deal expires. My mortgage is made…
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Single application and household outgoings
My partner has applied for a single applicant mortgage and we have met with all kinds of differing advice from the same provider. Can anyone please explain if what we are asking is unreasonable? My partner works full time and earns £51k pa and I am currently on career break. My partner has provided all of the money for the…
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Paying off mortgage at end of fixed rate help?
Hi I initially took out a 13 year mortgage with Nationwide fixed for 5 years. I have been overpaying since day one. The fixed rate ends in February 2017 and I am in the fortunate position that I could pay it off then. I have heard that if I pay it all off during the last month of the fixed rate then I won't occur any…
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Stamp Duty
Hi, apologies as I know this will have been answered before, but I need someones assistance to clear this up for me. Myself and my girlfriend are currently saving our deposit for a house. She owns a flat (her main residence), we will be purchasing a house for circa £130k and then renting her's out as a buy to let. Will we…
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Re-mortgaging for dummies - Shared Ownership
Hello, long-time reader, first-time poster. I bought my first flat 2 years ago and the 2yr FR mortgage deal has just ended. When I bought I used a shared ownership scheme in London. Whilst shopping around for my new mortgage, my survey report says the value of the property has increased around 6.5%. Now, whilst I'm looking…
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Consent to Let
I was reading about consent to let recently. I have two questions: 1) I received a flyer through my door from this company recently: http://pridea.co.uk/who-are-we/. They say: "we'll let your property for free!". What does this mean? They will find tenants? 2) I had a call from another estate agent recently saying they…
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Mortgage on a gifted house
Long story short:- I want to give half my house to my daughter. She will need to raise £80k for the other half so to speak. Credit checks and her income aside. My question is, are there lenders that that will be willing to lend in this situation? I've searched all day but can't find anything on the internet specific to…
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First Direct refusal to rent our house...is this correct?
Hi all, Just wanted to know if this is correct. We had looked into renting our house to rent another closer to family as we can't currently afford to move. I spoke to FD yesterday and the underwriters refused stating it is blanket policy re not renting and only under exceptional circumstances ie moving abroad for a job or…
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First time buyer, worth looking around?
Hi, I've been thinking of buying a flat but didn't think it was possible because of lots of credit card debt. One of my colleagues is relocating to Germany next spring and is planning to put his flat up for sale. I have been over to his place a few times and quite like it. I need a 300k mortgage on a 335k flat, income of…
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Further advance - 2nd property question
Hello all, I have two questions for anyone that can help: I have a one bed flat with a lot of equity and I would like to buy a two bed house as quick as possible (house prices are still flying up) without selling the flat as I would like to keep it to move back into when I'm old and grey. I can borrow up to £70,000 from…
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