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Joint mortgage plus individual
Hi I'm wondering if anyone has any ideas around my current situation. Right now I have a joint mortgage with my brother with about 80k left on it and not sure roughly how much I could borrow individually if I moved into a new property? I currently earn about £32k a year and have some savings for another deposit so would…
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Need Guidance, What do do Next?
Dear All, I am a FTB and planning to apply for a joint mortgage application with my spouse. We have got AIP from Halifax for £340k and have a deposit of £70k Tomorrow morning going to view 3 properties. Need suggestions regarding 1) What are the important points to consder when viewing a property? 2) Are we allowed to take…
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Mortgage overpayment penalty
I'm in a 5 year fix with a 4% ERP for the whole term. Balance is 150k. I can pay 10% a year penalty free. I have a couple of questions. If I pay half the mortgage off (75k) and pay 4% on 60k of it would eventually it pay off as I'd be saving the 2.69 interest rate? To minimise the penalty would I be better doing it sooner?…
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Buying a share of freehold
Hello guys. Completely new here. I will be quick and short. Please help. 1. Bought a flat in June 2018 (loess than a year) for BTL purpose with lease of 125 years. (Want to keep it for min 5 years) 2. Total 6 flats in whole block including me 3. Commercial property on ground floor and all the flats are spraded over first…
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Would a possible job move prevent you from fixing long term?
I am trying to decide what to do now that my five year mortgage fixed rate expires as the end of March. 1) My current interest rate is 3.25%, however this will go up to 4.74 on April 1st (standard variable rate)! I believe this means I would pay about £79 more per month in interest. 2) I am thinking about a job move and…
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2nd Home Mortgage Advice
Hi Everyone, I own my flat unencumbered and looking to rent it out and then buy another flat for myself to live in which is in a different area. The flat is worth 210k and I'd look to buy another flat for between 180-200k. The majority of my cash is tied up in the current flat and my question is, can I take out a mortgage…
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Advice on what to do next
Hi all, I'm 32, from the West Midlands and coming to the end of a 5 year fix, and wanted your advice on what you would choose to do next. It's my mortgage running out which has made me consider this forum, but i can move it over to investments if you think that is more suitable. About a year after getting the mortgage i…
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Please help!
A family member has died, and the house is split between 3. We want to buy the house to keep it within the family but have no deposit. My partners mum which is one of the three going to receive the money from the sale of the house has said to us that she will give us the deposit to buy the house from her share. Is this…
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Is this normal?
My friend is a first time buyer and has a DIP from broker. She called an agency yesterday to arrange a viewing on a property. They told her she needs to speak with their mortgage advisor to see if she can afford the property before she can view it (baring in mind it's on the market for £120k). She told them she has been…
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Second Charge still on deeds after it was paid off!
Hi, back in 2006, my wife and I took out a Firstplus loan, (to run with our Northern rock mortgage) securing the debt on our house. This, naturally, led to a second charge being put on the deeds at the Land Registry. A year later, 2007, we were in a position to pay off this loan, which we did, and received a letter from…
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Reducing Stamp Duty on Second Home
(I thought I'd posted it this already, but can't find it.....so trying again....) I currently own ahouse, jointly with with - value around £350,000. We want to buy a new house - value around £500,000. House is very popular, so considering possibility of buying it before we sell the current one. (Else it's a race between…
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Pepper UK Mortgages
Morning All, I have never posted on here but always visit to take ‘advice’ and ‘information’. I am currently applying to remortgage my property however I have a poor credit rating however my husbands is good. We are going through a specialised broker who have been amazing and very helpful. We unfortunately got refused by…
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Release equity in home
My home is worth £250,000. I have a mortgage for £40,000. Can I release £150,000 or rather how do I release £150,000 to buy a plot of land? Nationwide won't let me...what lenders do?
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Can I get a mortgage as an NQT in a fixed term contract
I've just been offered a position at a school on a one year fixed term contract. I completed university in November and have been working as supply since the end of January. Me and my partner want to buy a house this year and have a large deposit saved. He is on a permanent contract but my income would be the higher one of…
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Extra payments towards my debt and re-mortgage
Hi MSE community I am paying extra towards my personal loan (just want to pay off ASAP) however I would not be able to pay in full before re-mortgage. Will my extra payments affect my re-mortgage offer/deal? I mean maybe I should calm down with repayments, re-mortgage and later pay over again Just confused :eek: Thanks
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Advice needed on title ownership - Portion of Garden Land
Hi forumites, Some advice needed please. I'm in the process of buying a detached house. The vendors have owned it from new, since 1996. We have just started the buying process, as in instructed solicitors and mortgage application going in next week. We have today been informed by the vendors that, there is a small patch of…
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Mortgage on an unencumbered property
Hi All I'm looking into the possibility of getting a small mortgage on my house that's fully paid for, so far I've only looked at traditional lenders but they insist on being a second charge rather than a first. The LTV is just over 10% for what what I want to borrow, I did look at retirement mortgages but unfortunately /…
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Mortgage with new job
Hello, My wife and I are looking to move home this year, however I am away to start a new job and she is away to start working full time again after being on maternity leave. How long do most lenders look for you to be in a job for a mortgage? Our current lender is Nationwide, it would be ideal if we could stay with…
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Gifted Deposit - Close Friends
Myself and partner could be in a position to buy but only thanks to an £11K gift from a very close friend. Neither of us have parents who would be able to assist like this. We do also have approx £4K in a couple of HTB ISA, and also have a further 6 months worth of saving where we think we could save up a further £4-5K.…
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Mortgage beyond 65
I am thinking about downsizing so I can retire. I'm 55 and working at the moment. Would I be able to get a mortgage on my pension until i'm 75 yrs old. I was thinking about a 40k mortgage over 20 yrs. I will have the state pension ( 8.5k )plus a final salary pension ( 8k ) I have a personal pension which I will live off…
