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Mortgage or Business Loan
Hi all, I would like to buy a property for the business purpose to either to turn it into a bed and breakfast or turn it into rooms to rent. Could I use a business loan for this or would I need a mortgage? Also, could I rent a property and then rent out the rooms for business purpose?
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Outstanding Utility Balances - Mortgage Application
Just had our winter bill come through the post for our gas and electric and it's not a pretty sight! We have £870 owing on the gas and £400 on the electric which is now also showing as balances on our credit report. Cannot really afford to pay them in one hit but have increased our monthly payments and will be making…
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Mortgage advice for FTB
OK, a first time buyer getting near to the stage where I might want to think about looking at properties but completely unsure of the process and timescale of things. I originally went to the TSB last December regarding if I would even qualify for a mortgage as being in my 40's thought that ship had sailed, seems far from…
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Environmental Report - Mortgage Valuation
Hi All We are in process of buying a new house and we have just had a response from Barclays following on from their valuation of the property. They have requested that we have a specialist environmental report carried out on the property and until then the application is on hold. The broker has told us that the from a…
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ERC Mortgage charges...again
I will be brief, I know this topic arises again and again but heyho. My situation is thus, I am in a position where I am due to sell my house, it has a mortgage of £98000 remaining and has 6 months left of an 5 year fixed rate mortgage with a interest rate of 3.29% and ERC fee of 5% fixed for the whole term. There is no…
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Query regarding BTL and consent to let
Hi Everyone, Quick question if anyone can help, bit out of the ordinary as well. I am just in the process of buying my second BTL and aiming to get another around September/October time. However due to work it looks like I am going to be overseas for a while with short spells at home. My intention is to rent my home out…
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Can Son get mortgage on Mother's house?
Situation is this: Mother owns house jointly with former partner who no longer lives there and has poor credit rating. Her son would like to buy out the former partner's share but does not live in the house. Skipton said no because he's not living there. Is this a complete no-no or is it worth shopping around?
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Quick question, quick answer please :)
When you submit your full mortgage application, does the bank/mortgage provider see a completely up to date credit file/report or the same one that we can see when we log into Experian etc (that can be up to 30 days old)?
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New fixed rate mortgage: 2 years or 5 years?
Hi all, our fixed rate mortgage arrangement is coming to an end shortly, so I'm looking for some views on whether in the present UK economic climate we should commit to a new 2 year or 5 year fixed rate mortgage?
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Mortgage and dmp
So I was thinking of remortgaging as the repayments would be cheaper and I could combine my main mortgage and second charge mortgage. But I have a dmp with StepChange for a couple of years , missed a couple of payments due to unexpected expenses. I was reading the details of the criteria with precise for example,it says 12…
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Aldermore Help
Help!! So our credit score isn't great and have been working on it for a while but its still not good enough for the high street lenders. The housing development we are looking at is a bit further ahead than they expected to be and the house we are looking at will be available sooner than we thought hence our issue, our…
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Can I request a new evaluation after rennovations?
I bought my house a year ago and now I'm adding a 4.5m double storey extension and I'm converting the loft. I'm looking for some advice on when I can request a new evaluation of the house so I can use the extra money to keep going on with the renovations? Any help would be great!
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BTL Advice
Hello... I’m after a bit of advice. My Partner took out a buy to let mortgage on his old property 2 years ago. We have a joint residential mortgage. BTL Property in partners sole name was valued at £140k he mortgaged it on interest only for £101500. They said they arranged it on rent of £625 per month. He is trying to…
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Settlement figure: Am I misunderstanding something?
I have a mixed mortgage, £31,220 total outstanding, £26,154 of which is interest-only, around £5k repayment. I’m currently on SVR of 4.24% with no early repayment restrictions. I have approx 1yr 9 months remaining on the term and enquired about a settlement figure but having worked it out the figure she came back with was…
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How much can I borrow for a mortgage?
Hi All, I’m thinking of purchasing a property but I’m worried me and my partner don’t earn enough as a couple to qualify for the amount we need to borrow. London is not cheap. Do all lenders just work off the same calculator or are there lenders that use a common sense approach? In an ideal world we would like to be…
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How do I sell 50% of a property?
HI all, I’m new to this forum but hoping one of you may be able to offer some advice please. I have a second property that I let out and it currently has an interest only mortgage (the tracker rate is so low there’s no point switching to repayment right now). The property value is £150K and the mortgage £120K. Anyway my 70…
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Remortgage but no longer employed.
My fixed term mortgage is coming to an end and we have been offered new deals with Natwest who we are currently with. The property has doubled in value since we bought it and I can see we would save a lot of money if we had it revalued. My problem is when we bought the house 8 years ago we got a mortgage based on 2…
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SDLT 2nd Property Refund Timings
Hi Everyone Wondering if anyone has any experience of reclaiming their 3% second property stamp duty land tax having sold their original home following purchase of their new one? Working on such a case with Clients and looking to get a feel for the timing and mechanics of a Second Property SDLT reclaim to assist them in…
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Remortgage- house value increase
We're due our first remortgage in June and have gone through a whole of market mortgage advisor to find the best deal. The paperwork has come through for the new rate and I've noticed they valued the property higher than we did when applying for a new mortgage. Is this normal or should I redo my remortgage request using…
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BTL before moving abroad
Tried to look through the forum, but couldn't quite find an existing thread with similar circumstances, so I created this new one. I live in an apartment and rental prices have dramatically gone up in my area. House prices have not increased as much. So I am thinking of moving to a friend's house and rent my own. The move…
