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Re-mortgage home for student fees
Hi there, I’m looking for a bit of advice on what others would do if they were in my situation. I am a single mother living in Scotland with a daughter who has been accepted and the forms signed for a foundation dance course in London. Regardless of my finances I am desperate for her to go due to family issues. I earn…
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Various Mortgage related questions from newbie to house buying
Hello all. Firstly let me thank you all for helping me clear my finacial life up! Without the support and advice from thia forum i wouldnt be in the position that I am now in. I have various Mortgage related questions. My wife and i have saved up approximately 20k we are also being gifted a further 25k from my parents. we…
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Remortgage within fixed term- with same lender. Will they still charge an early redemption fee?
Due to a change of personal circumstances- relationship breakdown. I need to look at a remortgage, to tie in an existing loan. I am fully aware, in the long run, I will end up paying more on the loan etc. However, my plan is to remortgage, tie in the loan for a 3 year fix. Then to remortgage again, but on a shorter term,…
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Mortgages for people close to retirement
So, due to a variety of issues including poor health, we had to switch to an interest-only mortgage when we only had 6 years left on our mortgage. It has worked well and allows us to pay a low payment each month. The problem is that the lender won't allow IO to continue after next year when I reach 65. It has to be…
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What variables are considered in a valuation/how do they make their decision?
Hi everyone Getting very nervous now as we are putting in our mortgage application this week (Precise or Kensington) and will be putting down a 5% deposit and using the HTB scheme of 20%. The house we are buying is a new build 4 bedroom detached property which has been built by a smaller, local developer and is costing…
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Removing name from property and mortgage
Hello, i own a property with a relative and need to remove their name from the deeds and mortgage. Due to their age the mortgage is due to be paid later this year. So want to change it to sole ownership and remortgage? What is the process of doing this and are their any pitfalls i need to be aware of? Cost? Is there a…
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Do brokers on comparison sites have a duty not to lie?
Whilst going through a remortgage, I first started off with my then current lender (TSB) to avoid the fee and the paperwork. The best deal they could give me wasn't great so I started going through the comparison websites. Went on MoneySuperMarket and it was showing me very attractive rates. Curiously, one of the rates was…
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Types of income taken into account
Hello, we are considering moving and remortgaging and are looking at our financial options. My husband works full time, while I get my income from Personal Independence Payment and renting out a room to a lodger. My question is whether there are any mortgage lenders who will take into account BOTH my Pip, AND my income…
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Can you get a mortgage on a paid off property?I
I am in the process of buying a property to do up. A friend will lend me the money to do it up, but then I will need to pay him back once the property is rented out. Would I be able to get a Buy tt9 Let mortgage to pay my debt off? has anyone here done this before? All your input will be greatly appreciated.
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Leasehold buytoLet
I have 66 years on Leasehold flat left and like to get a BTL Mortgage is it possible to get one with whom ?
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Applying for a mortgage and checking all bank statements ?
Hello, so me and my partner are applying for a mortgage shortly in the next 6 month. We are fully prepared been saving for 3 and half years in a help to buy isa. However I’m unsure on the providing statements part of this process? Other than providing statements for your main account which I understand. Do you have to…
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Offset flexible mortgage
Please could I sanity check my understanding with others before I go ahead with the following? I've maxed out all the bank accounts and regular savers over 2.1%. I've maxed out my cash / S&S ISA allowance. I'm a 40% tax payer. I have no loyalty(!) and move accounts regularly to get the best interest rates, and so earn…
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First Time Mortgage and only work part time and on benefits.
Hi, I want to borrow £25,000 in order to move, but I only work part time, 20 hours per week. I need to sell my house, which is worth £125,000 with no mortgage. My question is: "Will I be able to borrow £25,000 if I only work part time and get universal credit?" I also have 2 dependants and have never had a mortgage in my…
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endowment value changes
endowment due to mature shortly & regular letters have shown estimated value we can expect to receive - can this be reduced significantly by the endowment provider at the last minute, with no warning? (so much so that if value now seeing is correct - policy wouldn't even cover the monies put in)
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Partnership to Sole Trader - proof of income for mortgage
Hi I bought my partner out of our business in 2018 and I subsequently became a sole trader. I am now looking for a mortgage but have been told that my business is seen as a 'new' business from when it changed from a partnership to a sole trader, despite it being 5 years old. The previous accounts from when it was a…
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Buying a property with 106 agreement
Hi, Just curious if anyone has any experience of buying a property with a 106 agreement? The property we are looking at is in the Stratford-Upon-Avon district and is on the market at 60% of value (it is 180k). Does anyone have any info as to the criteria you have to fit as a buyer? We live in the next village over but the…
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Joint Names on Deeds but Sole Remortgage
Hi guys, This was asked before, but just trying to get up-to-date information. What lenders currently will consider a remortgage (80% LTV) in 1 name, but 2 people on the deeds (my wife and I)? Thanks in advance
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Are IFA's a con trick?
I'm currently trying to get the best Equity Release deal and have consulted three IFA's (Independent Financial Advisors) all of whom claim to have access to the whole Equity Release market. I gave each the same parameters, stressing that lowest interest rate was a priority, in order to minimise the reduction in my…
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Mortgage on flat with whole freehold but no lease..?
Hi all, There's been a long saga with the freehold/leasehold of the flat I've been trying to buy. I've posted before and people have been very helpful, albeit brutal! Hoping for some advice from mortgage experts today. There is no lease on the flat. It comes with the freehold for the whole building. A lease has never been…
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Deposit/Equity Release
the house im looking to buy currently belongs to my inlaws and they are looking to sell it to us for £100k and the house had a valuation of 200k recently. in this situation is it possible to go ahead with the mortgage application without needing the minimum 5% deposit as the house has so much equity in relation to the 100k…
