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Company director - dividend as deposit
I currently have a mortgage app going through Santander, have gone through DIP and valuation has been done (before underwriting for some reason?) I have taken a dividend from my company to use as deposit (from profits, not a directors loan or anything like that) however now the app has got to the underwriters they have…
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Overpay before renewal - worth it or not?
I'm trying to work out what to do about my mortgage. I'm currently one year into a two year fix at 1.99% and I can overpay by 10% a year without penalty. Interest rates have dropped a fair bit since I got it so I hope they stay that way for another year at least. When it comes time to renew, this will be the state of play:…
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Mortgage Dilemma!
Hi, Just after some wise words of wisdom although I think I already know the answer. I have been offered 2 re-mortgage products from my current lender, one of which I need to put down an £11500 lump sum which takes my LTV below 70% but my monthly interest payment is £120 lower than the second option. Therefore the question…
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Mortgage Application - Skipton
Hello everybody. This forum has been so useful the past few weeks during our mortgage application. We have applied for a 90% LTV mortgage on a new build with Skipton through a broker. We had the agreement in principle straight through and sent off bank statments, payslips, etc. The only additional information Skipton…
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Ground Rent Increase with RPI
Does anyone know if Ground Rent of £350 increasing in line with RPI every 5 years would put of mortgage lenders?
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Bank Statements & Mortgage Application..
Morning all, Got an appointment at the bank this weekend, and have got myself a bit concerned about them looking at bank statements. What exactly do they look for? I only ask because I spend a fair amount. By this I mean, I moved back into the parents house and am fortunate enough to be living rent free. Therefore I have…
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Barclays Remortgage
Hi There, I have a mortgage with Barlclays that includes a reserve. I want to remortgage, can I add the reserve amount to the mortgage and remortgage for the total amount? Or are they treated as 2 seperate loans? I know it may seem like a stupid question, but I made the mistake of asking a few people and they gave me…
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Stupid deposit and mortgage calculator question
Hi all, I have a really stupid question. I am looking at applying for a 90% mortgage with a property value around the £300,000+ area. I have been using a variety of mortgage calculators to work out how much I can borrow. So, when a mortgage calculator states "you can borrow up to £300,000" does that figure include the 10%…
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Buying a second home & remortgaging current residence
Our home is on a mortgage with HSBC and the fixed rate ends in December 2017. About August/ September we would be moving to another city because of DH work. We would initially rent for a while in the new place & eventually buy a home there. I understand that we can request for a Consent to Let valid for 12mths from HSBC…
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A brokers view on receiving a complaint
This month I received my first complaint. I can not post specifics obviously, but the complaint received was from someone who is not even a customer of ours. Yet I still have to follow our complaints procedure. The reason I am making this thread is because I often read on here people making claims of being miss sold and to…
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2 yr fix or 5 yr fix
I'm grateful for advice please as I'm completely inexperienced in all this. Our broker has pointed out 5 yr fix is obviously more expensive as not such a good rate but I'm thinking with interest rates so low they cannot stay this low for years to come. Therefore my thinking was to lock in a low rate for 5 yrs rather than…
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Change Mortgage from Interest Only to Repayment
Hello All, I have 2 buy-to-let interest only mortages that I would like to change to repayment. The independant mortage company I used to set these up 7 years ago has now gone. What are my options please? Thanks.
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Equity Release
Equity Release is Raising monies from your proprty usually by way of a Lifetime Mortgage.This is something that should be considered carefully.You can raise a lump sum to use as you require but it will be subject to Compound Interest.This is added to your loan and will affect you legacy in the future.Depending on the…
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Mortgage application when deposit in partner name
I have an offer accepted for a property and I now want to make a mortgage application. I want mortgage of around 2.5 times my salary (before tax or any payroll deductions). Situation - I have put deposit in my partner's bank account and my partner doesn't have any income, credit cards, or credit history. I am very…
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First time buyers, mortgage advice
Hi there, wonder if anyone can offer some advise. My husband & I are trying to buy a house, we only have a 5% deposit but were given a mortgage in principle, had our offer accepted, started to get really excited! Then yesterday Santander refused our mortgage application. I checked my credit file and my score is fair but…
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Natwest mortgage application question
Hi, just wondered if anyone could give me some advice please. We put in the full application in branch on Saturday and chose a 5 year fixed deal with 85 itv. On Tuesday Natwest changed that deal to a slightly lower interest rate and it now gives £500 cash back. I was wondering if because our application is still being…
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C'Card Debt and Effect on Mortgage Application
Hi not sure if anyone can help with this. I want to apply to borrow a certain amount on a mortgage. However, when I go into the affordability calculator of the lender I want to use and put in the amount of credit card debt I have the amount it says I can borrow is slightly below the amount i need. If I lower the cc debt a…
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Standard Life endowment
Hi everyone First time poster here, who'd appreciate any advice re: the following. I've had an endowment mortgage with Standard Life for the last 20 years, with 5 years left on it. I freely admit I don't understand and never have understood my mortgage, which is probably one of the reasons I'm in this mess. Hopefully the…
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Acceptable uses for proceeds from additional borrowing under mortgage
Hello there I've recently had both some disappointing and positive news based on a conversation with my existing mortgage provider (Halifax). I had originally called them to inquire about raising additional borrowing to pay the deposit on a commercial property investment. This will not work due to their underwriting…
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House valued lower than paying - now LTV too high?
Hi We have just had a bid accepted for a house at 200k, its been valued and come back with the valuer saying its worth 186k so as we need to borrow 177k they say the LTV is 95% not the 90% we thought it would be. I just wondered if we went with a different mortgage provider they would value it closer to the price? A lot of…
