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About to apply with Halifax!
I got an AIP from Halifax for £137,750 and I need to borrow about £135,000 and I'm going to do my application tonight, I'm feeling very nervous that I'll fail something but thought I'd write about it here to try and relieve some stress :( Edit to add: meant to ask what an AIP really means, and how that translates into an…
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Advice for student/parents buying house (in Scotland)
Hi everyone, Our eldest child is now at university (with three years to go after this one). He's at a Scottish university, close-ish to our home but too far to travel daily. Accommodation costs are fairly exorbitant (it's a letters' market), the going rate of around £500-£600 pcm per student. It would make much more…
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Create Finance, Derby
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How early do we need to exchange???
Hi all! We have put a reservation down on a new build (£1000). On the paperwork it says that they want to exchange contracts on the 3rd February even thought the house won’t be built until June? This is causing us to feel very rushed with our mortgage and also very impatient with our broker. He has told us that it’s ok for…
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Agricultural Mortgage help require
Hi I'm looking for some pointers as to where to take a problem for a neighbour of ours. She is recently bereaved, whilst trying to sort out the business affairs (farming business), she finds out that her husband had taken out a 40 year mortgage, approximately 20 years ago when he was 45. Obviously circumstances have now…
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When should we do our full application for the mortgage?
We've recevied our AIP from Halifax (although we are going to be shopping around with our mortgage broker for more deals). When should we actually apply for the full mortgage? We've reserved a house off plan and documents say the anticipated legal completion date and anticipated build completion dates are June 2018. Thanks!
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Mortgage Lengths
Hi, I understand that with a standard 25 year mortgage, the maximum amount you can borrow is 4.5 times your pre-tax earnings (doesn't buy much in Torbay, but that's another matter!) Does that borrowing amount alter with a longer mortgage, such as a 30 or 35 year? Many thanks, BT
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Remortgages for expats
We are British citizens but moved to SA 5 years ago. We have 2 properties in the UK with substantial equity in them. One of the houses we want to remortgage so we can send the money to SA to put into our South African mortgage. The interest rates here are 9%. We have been told because we were out the country for more than…
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Mortgage insurance costs???
FTB, We have just had our mortgage offer by NatWest and I’m aware that our IMB is going to try and sell us an insurance of some sort which we need for our mortgage, clearly I know nothing about this only that he said over the phone that we will be discussing it towards the end end of next week so I’ve a few questions…
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Mortgage LTV property valuation.
Hi, I am due to come to the end of my fix term mortgage having bought my house two years ago. I am right on the edge of having a LTV of 85%. At the moment I am slightly above it however, When I bought the house it was valued £3k more than what i paid for it. With the valuation being £3k more I would be below the 85% LTV. I…
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Good fee free mortgage advisor manchester
Hi, Can anyone advise on a good fee free mortgage advisor that I could meet in Manchester region? Thanks
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Conversion of Commercial to Residential, Funding
Hi, looking for advice on the right financial product to carry out a project. In short, I’m looking to purchase a town house property, currently configured as offices, but sold with permission to convert it to residential 4 bed property. I want to purchase it, do the conversion and then live there in the longer term so…
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Solicitor blunder - help
Hey folks. Needing a little advice around whether my solicitor had been negligent in requesting my remortgage too early...here's the story. I called a new solicitor to advise the I was coming to end of my mortgage deal with Natwest and I wanted to transfer to Virgin. He gave a quote and it seemed reasonable and i proceeded…
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Break up and x2 mortgages?
Hello there I’m seeking some advice, Myself and partner are breaking up, we have two mortgages and live in one large house and rent the other out. Large one has a good chunk of equity but brought six months ago and has a 5k payment if we sell within the first two years. The other is a smaller house and just reached…
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Post-Brexit remortgage advice
Hello all! :beer: I am hoping I can share my experiences of a couple of industry traps with other FTBs and have some questions answered at the same time. I apologize in advance if my questions are stupid.:rotfl: Backstory: I am a FTB and purchased my home last summer. Being a bit naive I was sucked into a few idealogies…
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Mortgage advice overtime
Good evening Looking for some advice I am looking to buy a property within a couple of years but struggling to find a bank to lend me enough money. I am in a job that I can get as much overtime as possible up 84 hours a week if I really wanted it. But my question is when I apply for the mortgage could I do say 60 hours a…
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Early redemption penalty higher than on offer letter.
Hi there We've just redeemed a buy to let mortgage (we were accidental landlords, long story) and the redemption penalty is higher than on the mortgage offer letter and higher than they advised 6 months ago. There is only 6 months remaining of the mortgage so we were led to believe the final penalty would 2% x .5 The sum…
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Histroric Insurance with Mortgage
Hi All, In my younger days, long before I became aware of MSE I took out a mortgage (in and around 2010). At the time the bank insisted that I must purchase their insurance that was underwritten by Liverpool Victoria. It was for critical illness cover, I advised strongly that I did not want this but the bank insisted it…
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New Build Solicitor Advice??
Good afternoon all, Anyone come across the below issue with exchange on a new build? Reserved new build with estimated completion of FEB/MAR/APR. Solicitor has just informed me that they have exchanged BUT with estimated completion date of 31st May. Well my mortgage offer runs out beginning of May. Spoke to my broker who…
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Buy to Let Mortgage TMW
We currently have a BTL mortgage with The Mortgage Works which expires next month. We normally hear from them in December but with two brand new grandtwinnies, and Christmas we've only just realised that we haven't heard anything. Rang the number but got a message that they no longer offer new mortgages etc and to contact…
