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Purchasing a flat with a 63 year lease.
I've been flat hunting for the past few months, and I've finally found a place I really like and would like to make an offer on. The property's value is £450k - I will be paying about £300k of the purchase price with cash, and the remaining £150 with a mortgage. However, there's an issue. The lease on the property is…
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Mortgages and savings
Hi We have 2 mortgages at the moment (one BTL), both at 60%LTV. We also have a bit of savings put aside, for emergency. I am not sure how much savings we should leave, and if we should put them into our mortgage and if so, which one? How do I decide? Or invest in something give me better return?? Where should I go from…
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Please can someone help me
My grandmother is 73 years of age and she has had debt problems in the past. Resulting from this she is only been paying the interest in the mortgage for a number of years now. Her mortgage has been passed to Kensington Mortgages. She is paying £500 a month for a one bedroom flat in Liverpool. Personally I think this…
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Sale of a house with joint mortgage
Hi, My partner recently moved out of a home she holds a joint mortgage on with her brother and father. Upon remortgage 2 years ago the two siblings were added to the mortgage with the father moving out and living by himself (also taking significant equity out). Throughout these two years only the siblings contributed to…
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Interest only mortgages for the retired
Why is it that the same building society will allow you to have a mortgage through a mortgage broker where you have to pay a mortgage broker fee, but not consider you for the same mortgage direct with the same building society?
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Calculator Possible Early Redemption and Re-mort?
Hello we have a fixed rate mortgage which only allows 10% extra repayment on top. We have some savings now which means I would like to work out if we are better off redeeming our mortgage early and paying the early redemption penalty and then re-mortgaging for a lower amount of money? The calculator on this site doesn't…
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Paying off Mortgage with Credit Card after PSD2
Hi All, I'm about to start paying off my first Mortgage. Now that PSD2 has been introduced and firms can no longer apply a surcharge for credit card payments, I wondered if it would be worth paying the mortgage every month on a rewards/airmiles card to get something back? I'd set up a Direct Debit to pay it off from my…
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Sorting out a financial mess
Hi, I've been following this forum for a while and there are so many helpful comments that now I find myself in a bit of a situation I thought I'd see whether anyone can help me. I am married. My husband and I have never owned a property. We were saving for a mortgage, aiming for a 10% deposit, I had hoped we would be in a…
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Advice about possible BTL and current mortgage
For a number of reasons we are considering a buy to let mortgage on a second property. We have about 2-3 years left to pay our current mortgage off. LTV is about 10% as house price has gone up and we will have repaid it about 10-12 years early due to overpayments. We were happy to have (soon to be) the financial security…
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Mortgage application and electoral roll
Hello. First time poster here. After a year in the planning my German husband and I (British) and our two kids are returning to live in the UK. We already have a rental property sorted and we plan to live there for about a year while we acquire a decent credit profile in order for us to apply for a mortgage to buy a house…
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Buy to let mortgage or Normal mortgage
Hi I have a small flat on a mortgage where I currently don't live there and as we are coming to the nearby time of remortgage, I was wondering what are our options. Can I renew my mortgage as a residential mortgage especially if flat left empty. We do visit sometimes over there but just for a change. I don't want to let…
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Online mortgage advisor
Hi anyone used these for a mortgage? My bankruptcy falls off in July and I’m considering using these as they specialise in adverse credit?! My bankruptcy order was July 2012 and I was discharged Feb 2013 Thanks
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repossession 2009
in 2009 my house was repossessed when the recession hit, i had protection insurance on the house but was told that because i was self employed it meant nothing (yay). i had a loan also at this time. i ended up moving home to my moms and never heard anything of the mortgage people (northern rock). and after a year the bank…
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mortgage declined
hi, My husband has just been declined for a mortgage after the valuation stage and our adviser was 99% sure everything was ok, now this has been declined they have appealed and just wondered if any one can advise how long this takes and was this accepted after? we are placing 15,000 deposit down and only borrowing 122,000…
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Buying ex-partner out of our joint mortgage
Hi Folks, I am looking to buy my ex-partner out of our joint mortgage at some point in the near future. I think I have got my head around how his payout would be calculated, would someone be able to confirm if I'm correct please? The house was bought for £190k in July 2017. The amount remaining on the mortgage is £150k at…
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Self employed remove name from mortgage.
Hi everyone, I'm hoping you can help. My husband and I are trying to switch from repayment to interest only on our mortgage so we can have a little more flexibility as we start to plan a family. We have a good amount of equity in the house so are not concerned about it depreciating or ending up in negative equity nor do we…
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Stay with offset or move to fixed rate repayment
Hi, We currently have an offset on a 2y tracker of 1.99% which is due to end in next couple of months. We owe £93,000 with around 19y to go. LTV 25%. We are hoping to repay in around 10y. The best offset rate is a 2y fixed 1.84% but £725 booking fee or a 2y 2.29% no booking fee. We save around 48 per month by offsetting…
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First time buyer help!
Hello all, Me and my partner have just been accepted for a share to buy mortgage... However, the lender is asking for an indemnity policy payment of £188 relating to the sewage works... It is a new build in a new estate and has only recently been finished, so my question basically is do we need to pay it, or is it…
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Paying off mortage in May, should I pay ERC?
I'm being made redundant in May and have a small mortgage remaining which I intend to pay off with my compensation and savings. I'm with First Direct and will have about 4 years left in my fixed term, I believe the Early Repayment Charge is around £800. I've phoned FD and they suggest to avoid the ERC I could pay the…
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Payday loads & mortgage applications
Hi, I’m very new to this site I hope you can help! Myself and my partner are looking to buy a new home together. When I was younger I was silly and naive and used pay day loans when I was finding it hard to make ends meet. I have never made a late payment and have always been to date with my bills but worry these old loans…
