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First time buyer help
Looking for some advice on a first time mortgage: I am currently working for the NHS on a band 5 contract and my partner is currently in his final year at university whilst working part time. I bring in 23k (pre-tax) and he brings in around 11k including student finance etc. In August I will (hopefully) move to band 6…
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Help!
So maths, escapes me. Am i right, the difference on a mortgage rate of 1.99 & 1.89% is 0.001% So on £500,000 the savings is 500£ Sorry and thank you!
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Complicated situation
My daughter who has a child, moved into a house with her boyfriend a couple of years ago. The child is not his and he expects her to pay her way, (no problem there). My daughter works part time at nursery attached to her child's school.There are no extra hours available but it solves the problem of after school care and…
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Losing job whilst in the middle of buying a house
We have just had an offer accepted on our dream home and our mortgage accepted but my partner has just been hit with the fact he may lose his job in the next week or so! We are in the very early stages of buying the home and really don't want to lose it, he hasn't lost his job yet so we weren't going to inform our mortgage…
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Pregnancy and mortgage
We've just found out I'm 6 weeks pregnant today. At the weekend we reserved a new build plot after the go ahead from our mortgage advisor. The mortgage they gave us in principal is obviously for just the 2 of us (no dependants) as we had no idea at the time. We have another appointment with the advisor next week. The new…
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Moving to variable rate
Hi, after some advice as our 3 year fixed mortgage is coming to an end. It expires on 1st Jan, and we are looking to move fairly soon. We are glad that our early repayment charge of £5K will be avoided if we can wait until Jan /Feb to move. Are we best off sticking to Virgin's automatic variable rate and paying the hiked…
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Help! Mortgage Broker Training
Hello, Looking for some advice on a career move. A really lovely lady and good friend of mine has offered me a job as a trainee mortgage broker, she will also pay for me to do the CEMAP and other training courses. Is working with/ for just one other person for a small company a good way into this career? Her way of doing…
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Are you allowed to pay a 5% deposit from existing overdraft / credit cards?
I am looking to try and get a mortage in 6 months time for a 100k property. So 5k deposit is needed. I have over 5k in overdrafts / credit cards, so was wanting to pay those off first by working over time.
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Fire Safety and Mortgages help!!
Hello Everyone, I will try and keep this as short as possible but any help appreciated. First time buyers buying our first flat. Offer accepted back in May, Mortgage offer received in June...we have only just got to the final stages (Probate came into it which delayed it significantly!) Our management company for the…
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Fixed term contract history - Accord
Getting my knickers in a twist here. We've got an application underway with Accord. Last year I moved from a permanent position into a fixed term 12 month contract with a new employer. I think Accord look for a two year track record of continuous contracts, which obviously I can't provide. My broker is going to ask them if…
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Condition of Mortgage - Credit Card
Hi all, I have a credit card debt of approximately £6000 and a condition of my mortgage is clearing this off. My dad has kindly offered to let me balance transfer this onto his credit card, at which point I would pay him back monthly. Does this count as a cleared debt at this point, at least to the lenders. Hypothetically,…
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Worth the Hassle of changing from First Direct?
Hi all. I hope someone can give some useful advice. We are just coming to the end of a 5 year fixed rate. (2.79%) They have written to us laying out the options - a) SVR...about 4.2. b) any of their current deals. c) leaving ... I'd like another 5 years fixed - and the best rate they have for this is 2.05% with a £490…
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Deed of Postponement - Halifax and Shawbrook Bank
Hi It's a long story but here goes! My Daughter and son in law were renting and received a termination of tenancy back in June. Our intention was that next year we would help them buy a property (help with a deposit) when I am able to access the tax free part of my pension at age 55 and pay off our existing mortgage. When…
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When is assured not assured?
i have a colonial mutual endowment, plus mortgage plan with life insurance policy (now Aviva) which is due to mature at the end of Sept 18. The policy is in my name, the assured name is mine as it is in the life assurance, it also states on the policy schedule that the sum assured is £35,000 A letter from Aviva asking for…
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In the UK can I be a mortgage holder but not on the deeds?
I plan on gifting my current property to my brother who will live in it. However I wish to remain on the mortgage with him as I would be paying it. I would want removed from the deeds however if at all possible?
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Disposal by gift and SDLT surcharge refund + indirect charge mortgage
Hi money saving experts! I'm looking for some advise on the best approach to take in my situation to recuperate SDLT surchage already paid. In 2012 I purchased house (property A) to be lived in by myself and my mother, with a relatively small mortgage in my name only and myself as the only proprietor. In between 2012 and…
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Mortgage Declined By Precise Mortgages, Foundation Home Loans, and Bath Building Society, What NOW?!
Hello All, I hope everyone is well. I was hoping someone could point me in the right direction. I am a portfolio landlord and I have 3 buy to let properties, 1 joint buy to let property. Recently, I remortgaged 2 of my BTL to release equity to buy a residential property and a buy to let property. Both my remortgages went…
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Nationwide remortgage decline
I am looking for a little advice as I think I may have made a big error. Sorry if it's a bit rambling, too much info is better than not enough I hope! Our mortgage fix with Halifax is up at the end of November so I have been looking for a new fix and found one with Nationwide. I thought it a simple case so did an online…
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First time buyer possible loopholes?
This thread is aimed at professionals with expertise. So my little brother (who is a first time buyer) has applied for a mortgage (first time buyer 95%). His broker came bank will several offers from lenders. His job requires him to be in Birmingham for part of the week and london for other times. He has been contemplating…
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Struggling to remortgage
Really frustrated as struggling to remortgage. Current mortgage is £68k on SVR. House value £275k. Currently have only 5 years left. Monthly around £1,250. Want to release some equity, so would like new mortgage of £120k, happy to extend to 12 years if necessary. Preferably on fixed term 2/3 years. Mortgage calculators…
