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Cladding of a combustible nature
Dear all, We are going through a mortgage application process in London for a flat in a block built just 5-6 years ago, in a recent development. The lender instructed the valuation, and after a couple of days they passed on this message from the surveyor to us: "Cladding of a combustible nature is thought to be present at…
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Countrywide Endowment Policy Holders Beware
If you took out a Countrywide Assured endowment policy and still have it, beware! I took my policy out in 1996 with a view to pay off my mortgage. Despite a number of "red alert - increase your premium" letters over the years, deciding to do so for some and not others, my policy has, on 12 June 2019, hit the target value…
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Credit utilisation
Hi I have read that below 30% is the ideal credit card utilisation before applying for a mortgage. I currently have 40 - 45% utilisation of my available credit and am hoping to apply for my first mortgage in the next 3 months. My credit card reports all show as good/fair, I have had the same full time job for 6 years and…
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Product Transfer- Self Employed
Good evening everyone, My partner and I bought our home last November on a 2 year fixed rate. I have considered changing employement to be self-employed. Can anyone confirm if when we reach the end of our 2 year fix and we look to enter into a new fixed agreement with nationwide, will we be subject to a new affordability…
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Redemption fee still valid after Virgin money bought by Clydesdale/Yorkshire
I have a redemption penalty on my mortgage until November 2020, does anyone know if I can wriggle out of this since version is being taken over by Clydesdale and Yorkshire Bank?
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5yr fix on a Help-to-Buy Mortg
Hi My broker recommended to avoid a 5yr fix given that's when HTB payments will commence, so many banks wouldn't remortg I was wondering if this is valid, or just brokers trying to as typically, to make u sign up to a shorter 2yr so they get commission sooner on remortg? Seems like they always have a reason to detract…
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Extending mortgage term - school bursary
My son attends a fee-paying school but we get a 70% bursary to help with the costs. I have now used up all my savings and he is due to go to secondary school which will be more expensive. I'm not sure we will be able to afford the higher fees so thought we could re-mortage our flat to help with the fees as I think we will…
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Equity release schemes for under 55's?
Just curious but anyone know of any companies that would entertain an Equity release Scheme for 50 year old homeowners? A quick search suggests 55 is the minimum qualifying age? Thanks
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Which? Brokerage Closing
Word is out in the Trade Press that Which? are closing their mortgage broking arm. Is anyone in mid process with Which? Is anyone an existing customer? What have you been told?
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AP Markers
Hi, My husband and i are looking at getting a first time mortgage we only have a 5% deposit and this is gift of equity as we are hoping to buy my parents house Since doing some research i am now worried about this being declined, on my credit file i have Ap markers from 2016. I have a vanquis credti card which is still…
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Mortgage Offer Extension - Natwest
I wont go in to all the detail but our chain has broken down a few times and is now looking good again. However our Mortgage offer will run out Mid September as it will have been 6 months. Our Mortgage advisor says he will apply for an extension? Does anyone know how long you get on an extension? And what is involved in…
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Fixed term coming to end - remortgage
My fixed term comes to an end on 31st October with an ERC of 1% if I move before then. I want to remortgage to another lender at the end of the fixed term. When do I start applying? Do I have to wait until 1st November or can I approach another lender now but say I don’t want it to start until 1st Nov?
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Solicitors checking source of fundd
Hi everyone! So my husband and I are in the process of buying a new build house. We have paid the reservation fee, had the mortgage offer and signed countless forms from the solicitors. All seems to be going smoothly. The solicitors have requested to see proof of deposit, which I sent them. A small part of the deposit was…
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Santader - The process! Approved before valuation?
Has anyone applied through santander and had it all approved prior to a valuation? It's been stuck in limbo for a week whilst the address verification stuff came through, they've resent it all and it arrived today, but yeah just wondering if the approval happens then valuation or what?
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AIP approved - worrying about getting mortgage?
Hi, my partner and I are first time buyers using HTB. We have 5% deposit and would be looking at. £195k mortgage, our broker applied for a decision in principle and we got approved £208k (6 months ago we tried and got £193k due to adverse credit). I have a number of defaults on my credit report but nothing more recent than…
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Mortgage lenders - who lends the most?
Hi Everyone, I currently own a property with my sister and I’m looking to buy her out in the next few months. I’m desperate to find a mortgage lender that will lend more than 5 times my salary so I can borrow more to buy her out. Does anyone have any advice or experience with lenders and who are offering high amounts with…
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checking if solicitor is in the bank's panel?
Hi, Is there any way to check if a solicitor is in the bank's panel? I don't really understand it but my solicitor has been rejected by the bank for remortgage process because he's not in their panel. Many thanks. San
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Is ex entitled to half equity?
Hello First time I've used a forum so apologies if anything is incorrect. Long (and complex) story cut short. Me and my ex bought a flat together in Nov 2006. We split up 6 months later and he moved out and stopped contributing to mortgage payments. This was around the credit crunch and the value dropped from £140,000 to…
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Worried we've messed up our house purchase!
Hi all, I'm writing out of sheer panic here and I know some people are going to think I'm incredibly stupid! Basically, we are young first time buyers. We had our first DIP of £220,000 issued by Halifax in April 2018. However, it took us almost a year to sort our credit reports out so we could get a 90% mortgage instead of…
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Melton Mowbray building society had a few questions, information now submitted, when will I know?
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