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Should i switch deal
Hi all, I need a bit of advice as to switching to a new deal. I'm currently 4 years into a 10 year fix on a 15 year term(so 11 years left). As per Jan 2018 statement we owe £140k Min payment is 1287 Paying 2k So must owe around 130k now. Rate is 3.89 till 29/2/2024 Penalty is 6% decrease by 1 each year(so was 10% at start,…
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Halifax - mortgage application, settling a credit account.....
Hi all We have completed an aip with Halifax and have been approved straight away , we have now started a full application and have booked a valuation on the application phone call 2 questions: Firstly, does the fact that we have gone straight to the valuation stage mean that we have bipassed any referrals etc? Secondly,…
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Looking to buy after reposession
Hi I'm a new member looking for some advice Back in 2014 my wife and I defaulted on our mortgage with NRAM and decided to VS the property we have been local authority tenants since, we have had no contactwith NRAM since the VS and after property sale at auction there is a £38k shortfall on my credit file. We are now…
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Employer about to cost us our mortgage.
Hi all, So, after a long struggle me and my wife have our mortgage in principle. I am self employed and have only been for the past year and a half and she has 2 part time jobs. Needless to say it has been difficult to find a lender and jump all of the hoops. The final piece of the puzzle (as far as our lender is…
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Mortgage declined after AIP
Hi, Me and my girlfriend recently had our mortgage declined after getting an agreement in principle. It got rejected due to my credit which contains a couple of defaults from over 3 years ago and pay day loans from over 4 years ago, when I had a new job and was struggling with travel (I take full responsibility). We have…
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Not sure how to apply due to circumstances
Hi All, Just to set the scene. My parents recently broke up and dad has left house. My mum cant afford to run the property or live on her own, so i have taken over the house hold paying bills etc. The house value is 90/100k and outstanding mortgage is 50k. I earn 22k a year recent new job 4 months now. My dad want 5k as…
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Gifted Deposit Timescales ?
Hi, I am dealing with a house sale and purchase for someone, we are all ready to go except the end of the chain who is a first time buyer has now dropped it on us that : Apparently he's deposit is split over several bank accounts and he is having a hard time proving where it all came from !!!, so the solicitor has…
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LTV thresholds
Hi all. A bit of an out-of-interest question, as it doesn't affect me, but was just wondering how lenders treat the LTV threshold values. Do they round value to the nearest % in the borderline cases? If your LTV is 75.49%, do they round down and offer you their 75% product, for example? Or is it a case of 75.000001% or…
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Capital raising on an unencumbered property
I was talking with a friend whether this is possible for some lenders: My friend owns a home £400k value with a £100k mortgage. Currently earning £80k and have no affordability issues. He has no cash savings and would like to remortgage and release £50k equity for general living expenses. This is because he wants make…
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2yr, 3yr or 5yr
I am currently looking at re-mortgaging as my current rate runs out at the end of Oct. My consideration is how long do I fix this mortgage for. It seems my best rates without paying fees are 2yr - 1.83% (£300) 3yr - 1.99% (£304) 5yr - 2.13% (£307) I suppose the gamble is will interest rates go up in the next two years. I…
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Remortgaging advise
Hi, Was hoping for some advice. We bought our first house 2years ago on a 95% first time buyer mortgage. Our fixed rate is coming to an end and we want to remortgage to another fixed rate. Our LTV is currently 90% assuming the property is worth what we paid for it however property prices in our area have generally fallen…
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proof of deposit
We are in the process of applying for a mortgage. My sister released some funds via an equity release scheme and gifted us part of our deposit. The mortgage provider wants copies of the last 3 months of my sister's bank account (they say) to ensure they have complied with the money laundering regulations. We have provided…
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Halifax pay slip request before completion?
Hi, I have purchased a new build off plan and have exchanged. The house will complete in November and I have read so many contradicting statements on here about what Halifax do just before completion. Does anyone know if they ask for more payslips and also credit check before completion? Reason I ask is that since I…
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Valuation
Hello, I am currently in the process of applying for a mortgage with HSBC. Do you have to have a valuation done or is this an option? Thank you
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Notice
Hi all When is the best time to give notice to current LL ? We’re buying a new build.
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Comparing mortgages just during initial period
Any mortgage cost comparison I can find shows you the initial monthly rate and payment, the fees, and the APR over the whole life of the mortgage. What this never seems to do though is give you a simple guide of the cost only during the initial period (I.e. interest + fees). Although it's a simple calculation, it does make…
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Separation & Negative Equity
Hi all, This is my first post and I wish it were a more upbeat one so apologies in advance. My partner has told me she wants to separate after 15 years. We aren't married and we have lived together for 11 years in a house that I bought with the mortgage in my name and I put the deposit down out of my own money. I purchased…
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Help! Endowment figures
At the moment my outstanding Mortgage and Endowment are getting close to being equal with 5 years still to go It is a Prudential(scot Am) Unit-Linked fund(Managed).It's due to mature in August 2023. The life insurance is for 50k and as of March 2018 has a value of just under 47k, we pay £134.70 per month and their…
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Re-mortgaging/removing a person/interim charge attached
Hi All Can anybody help !!!128591;!!!128591;!!!128591; My girlfriend is divorced but currently owns her house with her ex.We have got a mortgage sorted but an interim charge is attached to the property in her ex's name.This stops us removing him and adding me to the land registry for the mortgage to progress.How do we go…
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Help/Mortgage Please
Hi all, I just need direction really, my Mum is struggling house wise, well Mortgage wise really. I have a financial investment in the house obviously returned when the house is sold. My problem is while my mum is now struggling with the remainder of the Mortgage. She has inquired ref selling the equity, which was a no go.…
