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Broker made a mistake on application
Hi, Long time lurker but just joined so I could post. I need advice about my mortgage application. My broker submitted the AIP and this was passed no problem. Then full application submitted and I was told this had passed the credit check and was essentially approved subject to valuation. Only noticed when I saw the hard…
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Why do remortgages get worse rates than first time buyers?
Coming to end of fixed rate of 2.29% with Halifax. The offer I can choose just to directly remortgage with them is 2 years at 2.89 or 5 years at 2.91. When I put the same details in as a first time buyer on 73% mortgage LTV I'm getting rates of 1.2% and a £200 lower monthly mortgage payment? Is it just to lure the newbies…
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New Build Mortgage Problem
Hello, Me and my partner recently got a new build. When we went to a mortgage advisor he stated we could loan up to 136k before deposit. So we gave him the value of the house and stated there would be extra's eventually but that's the base value of the house. The house was £130k and Barclays accepted us on a 2.18% at 90/10…
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Bank unlikely to transfer title to me after split.
Short story, me and my partner of 10 years are splitting up and have agreed on the following. She keeps the car, I keep the house and we halve the savings (£3000 each). She is going to move in with her mum and we are going to have our son 50/50 with her claiming all the benefits/child credit and paying for his nursery. She…
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Remortgage to add partner query
Hi all, I'd be very grateful for some general advice on my current remortgage situation: Lived at family home for 15 years which is currently owned in my sole name - subject to mortgage and has equity of around £200k. My fiancée has lived here with me for 11 years (and has contributed financially during all of that…
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My second time applying and it's gone to underwriters again! For a "random audit"
So this is my second time applying for a mortgage after I applied last year and was declined and put onto a fraud list. After almost a year of getting the go ahead I have applied again. So the broker I have used this time put everything through called up halifax and said that's it's all gone through and offer is ready…
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Corona virus
So following on from my last post - my offer for a house was accepted. However, I’m now being told that I made the wrong choice as the coronavirus will cause us to go into a recession. I’ve therefore been told that the value of my house would go down significantly and that I should wait until this whole coronavirus is…
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Life insurance / decreasing term
Hi Our broker has offered us a decreasing term life assurance policy to cover me + partner in the event one of us dies. It's about £30 a month for £460k cover, decreasing 8% p.a. over 30yr repayment profile. We will probably just keep it in place for a few years until our equity has increased a fair bit. What I don't…
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Mortgage Application & Wonga Redress
I am about to start the process of applying for a mortgage with my partner. I have £5200 saved in a help to buy isa and £6000 in another savings account. She has a similar savings total and income / outgoings as I do. I take home £1700 / month after tax and have £400 total outgoings when food and fuel is taken into…
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First time buyer help please!
Hi My partner and I will be getting a house very soon!! So excited. We are going to look at using first mortgage as advisors. They have given us the basics on the process of the mortgage application. I am just wondering from anyone’s personal experience how long does the process take? And when would we have to submit bank…
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Own bank mortgage
Is it more likely to get a mortgage acceptance through your current bank? Thinking out loud, but wouldn't they have more information on you as a person and therefore be able to boost their internal scoring system compared to just what credit agencies say?
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Possible temporal income drop after mortgage offer
Hi guys, Will try to summarise this the best I can. We had a mortgage offered about a week ago and everything is getting ready for exchange in the next weeks. Due to coronavirus outbreak, my employer is considering offering most employees to go part time until things go back to normal or maybe take a week or two unpaid…
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Help to buy - authority to proceed delays
Hi, is anyone else experiencing a majorly long wait time with their help to buy application? our mortgage broker applied for our mortgage and help to buy application on 31/01. Mortgage offer received from barclays on 19/02. Then our mortgage broker input the wrong solicitors name on our help to buy application so this had…
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Residential to BTL Remortgage - not sure if scenario is feasible!
Hi All, first time posting! This is the scenario. I own my property with my daughter, current residential mortgage is about a 40% LTV. I reside at the property with my son and daughter. My son and daughter want to buy a larger property since they both have well paid jobs. I would be moving with them permanently, but was…
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Name removal from mortgage/title deeds
Hi, I've been divorced for 18 years but have just found out my name is still on the mortgage of my ex husband. I thought after the divorce this would get removed by my ex. How can I get my name taken off. I have no interest in any equity or the house. I have moved on and am now happy. Thanks in advance.
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Virgin Mortgage Corona Virus Advice
As a freelancer it's clearly going to be a tough 6-12 months ahead. We have a £200K mortgage on a £490K property with repayments at £890 a month. The fixed 1.75% deal ends in October 2022. We were wondering about speaking to them to switch to Interest only for say, 6-12 months to ease the burden but don't want to give them…
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Mortgage Offer
Hi guys, I would appreciate some advice on a help to buy property. We are buying a new build which is due for completion in Aug/Sep of this year. Having already agreed on a mortgage illustration with our broker, we proceeded with the application process and had a mortgage offer sent last month. We are yet to exchange…
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Buying second property - help.
Hello, I live at home with my parents, and own a property which I have a consent to let on (currently has sitting tenants) I am currently trying to save for a new deposit to get back on my feet, but am tempted with pulling equity from my property. My questions are: * Can I get a second residential mortgage? * Should I…
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Fixed Rate interest rates dropping with base rate....
Hi, My situation: A week ago I got approved for a 5 year fixed rate mortgage with Santander. Since then the Bank of England have dropped their base rate and it seems they will apply another drop soon after the USA dropped theirs again..... I have not taken on the mortgage yet, I have not exchanged contracts, I am currently…
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Developer offered £500 discount to use their choice of solicitors?
Hello. My wife and I are looking at applying for a mortgage to buy a house using the H2B scheme. The developer has offered a £500 discount to use their 'preferred choice' of solicitor. However, this is not the solicitors that they use, according to the estate agents? For me, this rings alarm bells loudly....but am I being…
