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Query regarding finances/employment contract and mortgage application
Hi all, I have a query regarding a new job and where I would stand if I wanted a mortgage in the future. The pay structure is unusual in that I will be employed full-time (35 hours per week) and it states this on my offer letter (I've not had a full contract through yet) but I am paid a full-time salary for the first 3…
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coventry
Hi all This may seem a daft question, I hear a lot about retension products from your mortgage provider when your current deal is coming to an end. When looking on line at the Coventry it only mentions re mortgaging products, are these one and the same Thanks in advance
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FTB: What if I am £3000 short??
Hello, apologies for the dumb question and thank you in advance for trying to help. To cut the long story short, I am in possession of two separate Mortgage In Principle Certificates, one from my bank at £125k and one from an independent mortgage advisor at £123k. The property I would like to buy can be mine for £140k. I…
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Debt question
We are looking to move soon due to birth of new child. Ideally we'd like to go to new builds currently being built. I have spoken to my current mortgage provider (YBS) and they would give us the mortgage we need based on salary if we had no debt. We currently have £15,000 of CC debt, I also have approx £17,000 in shares…
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Amber homeloans bought out?
Had a letter from my mortgage lender telling me ownership of my mortgage has passed to morag finance ltd. Anyone know anything about them? Says "morag is commuted to maintaining high standards of service. The current terms and conditions of your mortgage will not change as a direct result of this transfer.." Should I be…
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Overpay BTL or Residential Mortgage
Hi, Looking for some advice. I have two mortgaged properties, one has been rented out and converted to a BTL repayment mortgage, The BTL repayment mortgage was on two year fixed term at 2.99% reverting to 4.5% which is coming to an end soon. The outstanding amount on this BTL is 170K. My other mortgage is for the house we…
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HSBC forcing us to use their own legal services?
Just wondering if anyone has had a similar experience with HSBC: Partner and I have recently had a remortgage approved by HSBC (yay). Our broker advised us that we needed to use a conveyancer that was on the HSBC recommended panel. We chose to do this rather than use HSBC's own conveyancer and were happy to pay…
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Reduce term or lower the payments
Our 2 yr fix is coming up in the next few months, we have / will have an O/S balance of around £145k on a property worth roughly £240k. Our incomes have taken a hit with the arrival of my son as my wife now only works part time. We get by thanks to all my schemes (as the wife calls them) which mostly involve current…
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Nationwide increased mortgage rates?
I tend to check mortgage rates on Nationwide website and their Press Releases to see what's up in case I decide to change my tracker to fix in case of BOE rate change. Today I noticed that offer for existing customers has changed and fixed products went up by 0.15%. For example 2 year fix for LTV below 60% was 1.09% and…
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Are online affordability calculators accurate?
Just wondering how accurate these are? I understand a full credit check would follow, but if everything was above board and in order on credit files, are the calculators fairly accurate?
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Mortgage ending - Interest still owed
Our mortgage ends next year. At the end of the mortgage we will still have some interest to pay, and our intention is to sell the house (downsize - which we are planning to do anyway) and use some of the equity to pay of the outstanding interest. Ideally we would like to time things so that the house sale goes through at…
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LTV Question (10% vs 5% with Let to Buy)
Hi, as per my previous posts, myself and my partner are aiming to purchase a house early next year but keep her flat on as a let to buy once we secure our new home. We have savings for stamp duty and are nearly there with our 5% deposit (which we've saved ahead of time). We have some o/s credit card balances of around…
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How much can we borrow? temp job and job due to start
Hello Can I get some advice on how likely it'd be for us to get a mortgage at the moment? I'm half way through a 12 month contract (but can show consistency of employment at other companies but same industry, I've read that that can help show security?) earning 35k DP is between jobs at the moment, in September (as it's…
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Buying ex out of house
I'm currently in the early stages of a divorce and want to buy my husband out of our house but am experiencing complications due to my name not being on the mortgage (I was unemployed when we bought the house). I have since contributed equally to the mortgage and the cost of the refurbishment works we have undertaken on…
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Nationwide Mortgage Offer Taking Ages and Broker Not Responding - HELP!
Hello After some help really. We've applied for a mortgage with Nationwide using a broker, our timelines are below. We are FTB, and literally ready to move in. * Applied - 7th June 2017 (Accepted) * Valuation Instructed - 12th June 2017 * Valuation Received - 14th June 2017 * Nationwide Requested Further Details - 5th July…
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Trainee Mortgage & Protection Advisor Telephone Based Role Play Exercise
Hello MSE community! I will appreciate your HELP as I need to prepare myself for a trainee mortgage interview. I have a role play exercise and within 15 minutes I have to convince (in professional manner ;-) ) customer to progress with a mortgage application. My question is what should I ask customer about to determine and…
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Lower stamp duty criteria question
Hi, I have a question regarding stamp duty and was hoping someone here could help me. My girlfriend and I are looking at purchasing a property but we don't know if we have to pay the higher or lower rate. There's a difference of about £16000 and if we have to pay the higher rate then we definitely can't afford it at the…
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Stamp duty not as expected but nobody told us
Hello. I need some peace of mind or I'm going to go nuts today. This afternoon we've been to see on our first visit our solicitor for the house. After going through all the stress with the lender and the mortgage advisor (the mortgage offer came all OK), we had the question... Do you own another property? As my mortgage…
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Credit rating, footprint and timing
We are learning the hard way. Problems with securing a mortgage. We are having some issues with securing a mortgage. Its an issue of timing. My rating has been very poor and relates to running up some credit card debts (due to an underpaid and irregularly paid job I'm now out of. Now in a very good job with better salary…
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short term interest only
Hi, I will be remortgaging in next month or so, with a LTV of around 60%. is it possible to go on interest only for a short period (approx 1 year) before going back to capital and interest, in my head it seems a great way of short term saving with not to much of a knock on effect (im 31 with 20yrs left on current mortgage)…
