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Mortgage Request - worried about bank statement
Hello, we have had a massive change in circumstance and have decided to buy a house sooner. We have put a request in for a mortgage and given all the paperwork in. But am worried about a payment I make to a loan that I defaulted on 8 years ago. I just pay £50 a month. It's not a problem I just haven't paid it off yet. What…
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Halifax
Have recently applied for a mortgage with Halifax, submitted evidence requested and waiting for a decision. Moved out of my old property a few weeks ago now and living with my boyfriend until my new house is ready to move in to (provided all goes to plan). Just wondering if the change of address will have any impact on…
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First Home
Hello. I am looking to buy a first property with my partner at some point in the near future. I have saved £20k and our combined earnings are approximately £35k. As far as I know, the maximum amount a bank would lend us is four times £35k, ie. £140k. Add to that the £20k deposit and we could afford something worth £160k.…
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1 on Mortgage 2 on deeds and & gifted deposit
Hello I have seen similar threads from some years ago. Our situation is slightly different from what I have seen discussed before. My partner and I are looking to buy our first house. We are not married. House Price £208,800 Her saved deposit £18,000 My deposit gifted from my family £18,000 Both have good earnings but my…
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Remortgage for home improvements - newbie question
Hi there, I have just joined the forum and have already found loads of useful information. I do have one question which I am trying to find an answer to but so far haven't seen any similar threads. I hope you don't mind me asking this - it really sounds like a very basic question which I feel I should know the answer to…
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Is offset worth the hassle?
Due to remortgage soon. We've been offered a good 5-7 year fixed rate which will free £300 from our current mortgage so plan to overpay if possible- this'll cut our 15 year mortgage by 2 years :T if that were to continue (depending on future deals etc...) We have regular salaried income and also run a business which we…
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Will cash advance impact mortgage application
I have a Halifax clarity card and whilst abroad withdrew 20 Euro on it. Even though interest free cash withdrawals is one of the benefits i’m now concerned it will detriment our application we hope to make in three months. Other than this our credit file is squeaky clean. No debt, credit card paid off in full, £110k…
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Can we remortgage to 100% ownership
Hi all I'm thinking ahead of time here but buying 50% share on a new build. When it comes to remortgage are we able to staircase to 100% at the same time providing the valuation is done and the repayments are affordable? I'm assuming we would use whatever equity we have at that time as the deposit? No sure how it works so…
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Mortgage App- Current Account advice?!
Hi, I have been saving for a deposit as a first time buyer. Whilst saving, I've been boosted the amount by spreading my savings across 5 current accounts that offered decent(ish) rates of interest up to a certain amount (e.g nationwide 5% up to £2500, Bank of Scotland 2% on £5k etc etc) I then moved a fair chunk of the…
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Overpay Mortgage or keep it for moving?
We've recently had some inheritance come in, we're also earning more than when we took out the mortgage. We currently have 22.5 years left with about £130k left. We may be looking to move to a larger house in the next few years. Would we be better overpaying the mortgage with the money we have or saving it for an…
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Question about mortgage app and p60
Hello Me and my partner are planning on applying for a mortgage in March/April next year but I was wondering about my p60? If I haven’t got 2018/2019 tax year p60 by the time we come to apply il have to use 2017/2018 p60 but this one shows myself earning £10000 in that year were as I started a new job in February 2018…
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Incorrect Redemption Figure
Hello all, first time posting. Several years ago, I purchased my first home on an equity scheme. I owned 75% and the remaining 25% owned by the equity scheme supplier. Upon the sale of the property, the equity supplier dealt with my solicitor as stipulated by them. I instructed my solicitor based on the above facts and…
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Do we incur additional SDLT if we remortgage?
Hi all, Apologies in advance if this has been covered. I have been researching this for one week and could not find the reasonable answer. I have spoken to HMRC and they said that they do not provide legal advice and they can only guide to 'guidance'. I have spoken to our previous solicitor and they suggested to contact…
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Moving up the ladder trickiness- options?
Hi all... We are looking at moving up the property ladder, been in the current home for 13 years and thinking about one final move to settle. We love our home but want to be a bit closer to schools, bigger garden and an extra bedroom etc... Whilst we don't have to move it would be nice, we are quite specific where we want…
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To remortgage and become buy-to-let or not?
Hello folks, I purchased a property in 2007, lived there for a few years, and since then haven't changed the mortgage. It's a repayment mortgage and the interest rate is currently at 4.74%. The current amount left on the mortgage in £63,000 and monthly repayments are £417. A few years back I started to rent out the…
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Remortgaging amidst extension
Hi, Hoping someone with more remortgaging experience can help with the following: Current situation (approx): Outstanding loan: £263k Value of house: £405k LTV: 64% Renewal due: May We WERE going to renew onto a lower rate (with <65% LTV), with a 5yr fix at 2.37%, as we were looking for LT certainty through brexit...…
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Could a broker help us? Debt Consol mortgage
4 years ago, I applied for our last mortgage direct and despite being told by various lenders it wouldn't be possible on my salary found that in the end First Direct would lend us enough. I'm now looking to remortgage but being told that I am only able to borrow c157k or if I extend the term by 9 years (to 35 years) Virgin…
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What is the highest interest rate?
What is the highest interest rate I should expect to ever see on a mortgage? What’s the highest you have ever known interest rates to go to? Just want to do a few sums to see how much of my mortgage I would be paying off each month at the highest interest rate for a mortgage in my price range.
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Holiday home as a first time buyer
Hello, I am in a fortunate position that my job comes with accommodation. Consequently, I have not bought a property before. I am considering buying a holiday home for my family which we would look to rent out for part of the year but also to stay in ourselves for significant periods of time. My question is, am I forced…
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Paying off debt and mortgage application
Long story short, we are set to complete a house sale (belonging to my late Gran) this coming Thursday, of which I will receive half of the sale amount. Concurrently to this, we are currently in the process of selling our own house, it went up at the weekend and we have already had 3 offers, 1 of which the asking price but…
