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Right to buy & existing debt
Hi all, Is there anyone here that can offer some advice with regard to right to buy... I’m currently trying to solve a couple of problems in the easiest way I can. The first is that I have a significant amount of unsecured debt totalling £30k. The second is that I could really do with purchasing a house to give me long…
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CEMAP Study Material
Hi all I am a soon to be returning mortgage advisor having left the industry during the credit crunch. I went down a different path for the short term and then 10 years later here I am! I want to brush up on my knowledge again and have tried, with no joy, to find my old cemap study materials. I am fully qualified so do not…
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Need new mortgage, when can I overpay
Right, here is the sitch: My current fixed rate with Halifax is coming to an end this month and I will try to remortgage elsewhere as their offers for existing customers are pretty poor. I have early repayment charges in place I believe. I have also been given a small lump sum of 10k that I would like to use to pay down…
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Paying off mortgage with penalty
Hi all I have a 5 year fixed @2.69 with a one off 4% penalty the whole term if I go over the limit of overpaying. Let's say I overpaid 10k and paid 400 for the privelege, so I've paid 400 and the 10k debt is gone. If I left it in the mortgage that 10k would cost £269 a year in interest. So after about 18 months the penalty…
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Is it cheaper these days to just take out a new mortgage instead of a personal loan?
If I wanted some funds temporarily for 2-3 years, I would have usually just got a personal loan or maybe a 0% credit card (if I didn't want to touch savings). Having looked at cheap loans rates - my mortgage lender rates for 75% LTV are around 1.9/2%. Surely just cheaper to take out a loan secured on house and pay off as…
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Mortgage Reserve Account
I am a long-time sufferer of depression, following my son’s diagnosis of Asperger’s Syndrome a few years ago. I have a DMHEF Debt and Mental Health Evidence Form (including consent form), signed by my GP, staining I have depression, I am a pathological gambling problem, I am vulnerable and have a poor memory and…
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Mortgage surveyor can’t/won’t value property
We are trying to get a mortgage on a ‘do-er upper’. Most of the work is cosmetic - think of decor from the 70’s. The mortgage valuation took place on Monday. The lender came back on Wednesday say the surveyor wouldn’t/couldn't value the property until we had done an damp and timber report and asbestos report and a roof…
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Barclays mortgage
Hi everyone, All new to this! So last Wednesday the 17th we had a meeting with Barclays to proceed with full application after getting an aip for the amount we want to borrow! Partner is self employed and i work part time and receive tax credit payments. So have received an update today from Barclays to say the valuation…
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On the edge of disaster.
Dear All There may be nothing to be done, but go over the edge of the cliff! May have to give up job, due to child needing full time care. Going to 1 income. Can’t afford to pay mortgage only interest for a few years. Have14 years left and tied in for another 3 to TSB mortgage. Does anybody know if they might allow us to…
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Offset mortgage - pitfalls of using partner’s savings to offset my mortgage
Hi, so I am hoping someone can advise me if this is doable (probably not!).. I have an offset mortgage. My partner has sold his property and we are planning that he moves in with me - if it goes well he will stay, if it doesn’t then he will buy somewhere new nearby. There are kids involved on both sides so we are…
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Is it ever a good idea to remortgage?
Hello all. In need of advice. I own a one-bed flat outright (100 year leasehold but no mortgage) valued at £375k. With my partner we would like to buy a second property abroad and eventually move there, but would at first live in our one-bed so we can keep working to pay for the overseas property. What happens if we…
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Small Mortgage for Retiree?
Looking for advice please. We want to move home, but would need to borrow about £18k to fund this. We are both retired and late 60s, but do have enough of a pension income to fund a small mortgage. Has anyone had experience of obtaining something like this? So far we either arent eligible because of age/being retired or…
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2nd mortgage repay
Hi I took out a second mortgage a couple of years ago for some refurbishments to the house. I will be in a position soon to repay that off in full as it was quite a high interest rate. Am I right in thinking that the settlement figure is the ‘amount’ I borrowed plus 2 months interest as detailed by the lender below. Just…
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Natwest mortgage application
Hello! Sorry I know this has probably been asked before! We were rejected a mortgage through principality (via broker) due to missed payment of £12 in the past 12 months. My broker didnt ask for credit reports prior to applying. So we have now got an additional 5% deposit so we will be borrowing 10% now as he said this…
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Help needed pay more over less or less over more to begin with
So as the title suggests I am in a predicament and not educated enough on mortgages to know which would be better so any help is greatly appreciated.. I have an offer for 30 years at a fixed fee for 2 years and will then be looking to remortgage. I wanted to know if its better to have the fixed fee for 2 years on a 35 year…
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Remortgaging before new job starts using employment contract
Hi I'm in my early 50s, moving from self employment to an employed position and wish to remortgage (10 year term, 30% LTV, 2.7x base salary). For tax planning reasons I would ideally remortgage before the job starts using my signed employment contract alone as evidence of income. Does anybody know of lenders that would…
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Mortgage secured with 10% of parents property?
Hi all, My mortgage advisor had advised me of a very new product on the market but I was in such a hurry today I didn’t quite hear his explanation of who offered it. Basically my partner has adverse credit, this is causing us a few problems getting a mortgage, I myself have good credit but can only get a good loan amount…
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Mortgage Advice
HI everyone, Wondering if any of you would be able to give me some advice. I will keep things to the point otherwise this could be a very long wall of text: The Facts: * I (M age 38) Married and moved in with my wife (F age 52) in 2014 * Wife owns house with ex-husband (Northern Rock/NRAM) * Just before they divorced…
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CCJ and applying for mortgage
Hi all, I’m trying to sweep up the last one of my debts with the end goal of buying a house in the next couple of years. I had a CCJ logged against me in Oct last year which I’m in the process of sorting out, however they have offered me a 50% discount to close the debt off entirely. I believe I remember seeing somewhere…
