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Overpay or wait for new fix
Hi, I have 3 years left on a fix rate of 2.29%, I am in a fortunate position where I can overpay the maximum 10% remaining balance each year. However I am starting to wonder if I should carry on doing this with the ridiculously low rates at ~1.15% Should I -carry on overpaying and have a smaller debt when I come to end of…
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Almost there working out the costs of a mortgag
Hello all I recently had a nasty motorcycle RTC which was caused by an elderly driver turning right in front of me at 50mph (total 90mph) impact speed hitting the car. From this it has been worked out that the compensation is worth £25k after solicitor fees. Now I'm single and looking at buying my first house in South…
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First Time Buyer Advice
Just looking for some advice. Have done some online searching but felt it might be best to try and get some input from people who know the industry. Single late twenties male with no dependents and a pretty perfect credit score looking to purchase my first property and trying to get an idea of what I can afford. Properties…
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Multiple Mortgage Applications
Hi, I've currently got an application with the Nationwide but First Direct are doing a near identical deal. Is there any harm in having two or more mortgage applications going at the same time? I'm think about credit scores, etc. but anything else? Thanks, Ed.
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HTB mortgage application with old/settled defaults/DMP
Hi Everyone, I was wondering whether I could ask for your opinion on a couple of matters. I set up a DMP with Payplan in November 2009, in order to make repaying my debts more manageable (and wouldn’t have done so in retrospect!). I didn’t miss any payments and fully settled the amount of £25 000 I owed at the end of…
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Reliable Broker
Hello all, I just wanted to share with you the positive experience I had with Trinity Financial and Money Saving Expert when I had to remortgage a few months ago. The guide provided by Money Saving Expert was extremely helpful and supported me through the process, making each step very clear. I accessed Trinity Financial…
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Barn conversion mortgage - 90%??
Investigating the potential of a barn conversion. Will need a 90% mortgage. 100K for barn and 100k for conversion . Websites have been mentioned to give 90% mortgages - but when investigated further can't find any sign of a 90% barn conversion or self-build mortgages! Any tips/experience with this would be very much…
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Employment Search Failed!!!
Hi All FTB, looking to get a house with my sister, house value 680k, deposit £190k so about 73%LTV. My salary is 80k and my sisters 21k We got a a DIP from Nationwide and got declined for the mortgage once we done full application. Head office picked up case for audit and rejected and the only reason they gave us was…
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Allowed to let someone stay in your house?
Hi, I have recently bought my first home with a residential mortgage. Am I allowed to let my parents live in there with me? It would be nice if they could contribute towards the mortgage and bills but if that is not allowed I would be happy to just let them stay there for free. Is there anything that would stop me being…
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BTL remortgage
I currently have a rental property and owe 33k on my BTL mortgage it is worth around 75k. Could i remortgage it and just leave 25% init to release equity? Thanks.
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Advice Please
Hi Me and my ex-husband are separated, both still living in the same house - going on the market, mortgage deal coming to an end. Do we enter into a new deal where early repayment charge is 2% in year 1, 1% in year 2? Many thanks
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Tesco Mortgages?
So we've had a meeting with our broker and discussed all of our options and decided that Tesco Mortgages would be the best product for us to apply for. Broker keyed in all of our info and the decision has been referred... Has anyone had any experience of Tesco mortgages? My broker says that they are relatively new to the…
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Stamp Duty on Joint Mortgage
Hi, I have a question about stamp duty. If a couple are purchasing a house under £125k as co tenants and one person own a buy to let a with consent to let on their former residential property as well, but the other is a ftb. Is the full 3% stamp duty charged? What if the equity was uneven say 30% to the ftb 60%? Thanks in…
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Worried - moved house just before mortgage application
Hello, Would be grateful for your help... I've just had an offer accepted on a house after a long time searching. :j I've been renting for a few years and had given up on trying to buy after several disappointments and decided to move flat to a nicer area and my new 6 month contract started 1 April this year. However I…
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Mortgage application & postgraduate student loan
Hello all, If our savings continue as expected we'll be looking at buying in around May next year. In September I may be starting a MSc for which I'd like to apply for a postgraduate loan - https://www.gov.uk/postgraduate-loan/eligibility As the course is delivered through distance learning I will continue to earn the same…
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Mortgage Application & Life Insurance
Hi all, My partner and I are applying for our first mortgage through Halifax, we're now just waiting on the property valuation. At our first appointment, the adviser mentioned life insurance and drew up some indicative costs. Is this compulsory, or can we refuse this or look into it at a later date? Thanks!
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Help please! Do I have an AIP
Hi, Can anyone please help? We have done an AIP through a mortgage broker - done as a soft credit check. As evidence we have a hand written certificate with the brokers company logo on it. He says this is enough evidence for the estate agent, but we put in an offer and the agents' financial advisor said that there should…
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Mortgage for unhabitable house
I am looking to buy a that has no kitchen or heating. The kitchen is stripped bare with no sink, no units, no worktops, no cooker and no boiler to provide heat and hot water. The rest of the house is ok and just needs decorating. I have been told by all main lenders that they wont lend as house is classed as unhabitable…
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A real mortgage mess
I have ended up in a real mortgage mess and have no idea how to sort it or even where to start. I purchased a house back in 2004 with my then husband. My grandmother gave me the 25% deposit we needed to buy it. In 2007 we put it on the market as I had purchased a business in a different county. Unfortunately it didn't sell…
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FTB Underwriting Process
Hello all, It's just a quick question... So my partner and I are going to be FTB's, we've declared everything to the best of our knowledge but I didn't declare a credit card that I paid off in full and closed a few weeks back from applying. They've asked us for 1 month bank statement and the payment for this particular…
