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Buy-to-let mortgage deposit from gambling winnings
I have been matched betting/trading for the past 4 years. Alongside regular saving and trading I have amassed £60k. Am looking to get a buy-to-let for a £200k property. I earn £40k/year so I am above the £25k/year salary needed to apply. I need 25% of £200k for the deposit = £50k. I have £5k in my current account and £60k…
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House equity help
Hi, I am looking for some advice please. I have a very poor credit rating, no ccj's or bankcrupts thought. I am looking to pay off some debt and replace the windows and doors in our home. I have £150,000 of a mortgage left and my house is worth £235,000. Does anyone know if I can release some equity from my property or…
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Buying a house with an annexe
Really grateful for any advice here. We are relocating and have found our dream home. Have a MIP and vendors have accepted our offer. Now our broker tells us we can get a mortgage on this place as it has a separate annexe and lenders don't like that, in case we rent it out to a tenant. We would like to airbnb the annexe…
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Remortgaging out a HTB loan
I've been looking into HTB mortgages and my main concern is having to pay back that lump sum after 5 years before it starts gaining interest. Lots of people have mentioned "remortgaging it out" but I wondered what everyone's opinions are on this? An average 4 bed family home around our way is £250k, meaning a 20% loan…
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1st time buyer, terrible history, any hope?
Long story short we have had a very difficult time in the past personally and financially and poor decisions made at the time reflect VERY badly on our credit reports. A brief view of our financial status - We have no debt at all, every thing is paid off and credit cards are paid off in full each month (just use them for 1…
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How is an existing Mortgage affected by changes in Work? Full time to Contracting
Hello, Do you have to do anything if you change your employment from full-time, permanent employment to contracting? I was just wondering how a mortgage is affected by going from full time work to contracting. I will still be able to pay my mortgage but wondering if I have to do anything when making this type of change.
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Porting mortgage advice
We're looking to move out of our first home, currently we're on the HTB scheme and have no dependents. As we're on the HTB scheme we have to apply for a new mortgage which is fine as our income has significantly increased since we brought our first home. If someone can advise on the below I'd be really grateful. We're…
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Mortgage offer taking months ...
Any advice on what I can do? Applied for mortgage end of April and still no offer / mortgage deed. Self employed and a BTL going through same time as new residential mortgage. They say something will take 24hrs and it takes a week or two for them to process / look at it. We are near loosing the new house as taking so long.…
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Change of payment, how to work the over payment
We recently paid a sizeable amount off our mortgage and have received a letter saying that because of this our monthly payment is being readjusted. We currently over pay £480 per month and will have another £40-£50 once the repayment goes down. Is it better to over pay £530 per month (though the letter reads that anything…
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Lifetime Mortgage
Proposal announced by the Financial Conduct Authority to make it easier for borrowers to extend their Mortgage or Interest only mortgage for their own lifetime.This would ,they say,give borrowers an alternative to Equity Release,downsizing or having to sell their properties.A leading acturary consultant points out that…
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Does a mortgage cover a mandatory developer deposit?
I'm considering buying a new-build home and the developer has asked for a deposit of 5% on conclusion of missives. The balance is then due upon completion. The house is built and practically ready to move into (just a choice of flooring to be laid), so completion should be very soon after the conclusion of missives. What…
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the *perfect* remortgage lender
I'm looking to remortgage soon to do some renovations and to pay off existing credit card debt. My credit history is impeccable; no missed payments or other funny stuff, and no dipping in overdraft. However, I made 2 credit card applications a few months ago, to shift older debt to 0% transfer cards. With existing level of…
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25k negative equity, made an final offer to cover this and now bank are stalling me
long story cut short, property sold for 25k less than I owed so now I have debt of £25k. OK so I have no chance to pay that back in my life time so I forwarded the bank a SOF (incoming and outgoing) and a monthly figure (less than £100) that I could realistic pay, done with help from a debt charity so I know it should be…
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FD mortgage process
Hi, I applied for a remortgage with First Direct almost 3 weeks ago and the application was sent to the underwriters yesterday and I was told a decision will be made by the end of Friday. On Monday I received a call from FD asking me to call them using my work telephone so they can verify my employment. Is this a normal…
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Remortgaging
Hello, When re-mortgaging to release equity (taking on a new mortgage on a property previously owned outright), once the paper copy of the offer is received what else is left to do? Thank you
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Mortgage help
Hi everyone, Just wanted some advice. Here's my situation; I'm currently working full-time earning 25k a year with around 6k in overtime My mum who is 60 year old owns a property which is mortgage free, the mortgage was paid years ago so she owns the property 100%. She is currently working Part-Time earning 11k a year…
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quality of service
I'm considering mortgages between Virgin Money and HSBC. Does anybody have any experience of how quickly either of these providers are able process an application and complete the valuation etc.
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Recently Moved Home & just been informed i owe £3k!
Hi, I moved house 10 days ago at the time i moved house and transferred monies to my solicitor I informed them (by email) I thought I was under paying (I didn't think the Early Repayment Charge had been taken into account). When she rang me back to say the move had completed she said she checked with the bank and I had…
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Mortage and survey
My first time buying and I feel a bit rabbit in headlights right now so bear with me. My mortgage has been approved (subject to valuation), got the survey back today. The valuation is the same as mortgage which is good news? The survey was a home buyers one? So it brought up some things- a few 3's. Will these impact the…
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Electoral Roll Close affecting mortgage
Hi there, apologies if this is in the wrong place, I'm a newbie and just wondering if anyone had any advice. Having finally gone through a lengthy divorce and financial settlement, my partner is trying now to get a mortgage. She has an excellent credit rating, but is not on the electoral roll, so her application has been…
