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Windfall: how do I balance early repayment charges against paying off mortgage later
We've had some luck and are in a position to repay our mortgage. It's a 5-year fix at 1.89% which ends in April 2022. There are early repayment charges (3% up to April 2021, then 2% to April 2022), although we can pay off 20% per year without charge. Instead of repaying immediately, we could put the capital to work…
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More than one broker?
Hi. I am a first time buyer and a mortgage broker connected with the estate agents I am buying with has found me a mortgage in principle - albeit maybe not the best deal. She also charges are fee and I understand some brokers don't charge the applicant. I have another broker pestering me who is a little cheaper and doesn't…
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How do fixed rates work?
With a fixed rate energy tarriff you are buying a product at a fixed unit price for a period of time. When the time period is over, past transactions have no relevance to any future arrangements. Is a fixed rate mortgage similar, considering it's a loan rather than a purchase? If I have a 25 year mortgage and for the first…
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Is now a bad time to remorgage?
I have been waiting until some other finances were in order before remortgaging - looking at going onto a 10 year fix over the remaining 10 years of the mortgage. I am not expecting the recent rate reduction to be reflected in the rate on the new mortgage, because I understand many banks won't pass it on. Is the current…
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Stamp duty Question
I am hoping someone here maybe able to answer the question - My sister own a property on mortgage and can lo longer afford the mortgage repayments / dont want to (4 years into a mortgage). She has asked me to take over the mortgage and property on my name which I am interested in doing. There will be no money exchange in a…
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Mortgage in UK and living abroad - remortgage options
Hello, I am looking for advice or suggestions as we feel like we have exhausted pretty much every option at this stage. We bought our house in 2013 and lived in it until January 2018, when we moved to Australia. After our fixed period ended in Summer 2018, the mortgage switched to the standard variable rate for a…
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Mortgage with a default?
Can someone help me with high street lenders? I have a perfect credit file, but but partner has a few blips. I was wondering if I should consider a lender such as Halifax? (had 3 mortages with them in the past) Looking @ buying a property of £450k on HTB with 50k deposit plus the 20% from HTB. Credit blips are: - Default…
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Too soon to ask for an update?
Good morning all! This question is mostly for your brokers! I had a DIP on the 03/03 through a broker with Kensington. Full application on 05/05. Further docs requested on 06/06 and these were provided first thing on the 9th. Valuation was yesterday (10th). I've had radio silence since monday, and fairly stressed. I know…
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Variable rate changes
good morning, we are currently on a variable rate mortgage. Does anyone know when the changes to the interest rates will be factored into our mortgage payment? Thanks very much
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Platform mortgages
Anyone know much about Platform or used them before?
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Interest rate cut - what happens to existing offers?
Hi - I currently have an offer from Clydesdale on a 5% deposit mortgage. We’re currently at the searches stage of the transaction. With the changes in interest rates, should we expect an adjustment to the offer? I have an email in to my broker already, happy to share when I hear back.
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change deal after Mortgage Promise?
Hi, I'm in the process of buying a home. We where in the point that Halifax was doing the valuation and did £0 value until we send a cladding report. hopefully developer is finishing it and will provided one in the next few days. Now I see the news the interest rate was cut -0.50%/ I guess all the mortgage interest deals…
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How long before banks etc offer Mortgages with interest rate cut
Today (11/03/20) it’s reported that the interest rate has been cut to 0.25%. How long does it normally take for this to reflect in mortgage rates for fixed rates, new deals etc? My offer has just finished, so I’m on SVR and looking for offer, so maybe hold off, but for how long? Looking on MSE it seems for a fix rate that…
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Should I remortgage and hold the cash
We’re in the fortunate position of having no mortgage and expect to move in the next 2-3 years. If we don’t move we’ll extend/improve our current property. With the announcement of the latest interest rate cut I feel we should remortgage now to get £150k and put it in an account as money is so cheap. However, my Wife…
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Switch to a cheaper rate and Pay ERP?
My current mortgage with Nationwide ends in October. I can choose a new product from June onwards, but given rates have just been cut to 0.25% i'm wondering what peoples views are on if I should get a new product now whilst rates are so low and pay the ERP charge which would be just over £1k. I would think that if the…
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Interest Rates Cut to 0.25%
https://www.bbc.co.uk/news/business-51831004 I wonder how long it will take to feed into mortgage products? Edit: Looks like Halifax and Nationwide have changed!
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Applying for mortgage to move - which type of job best?
Hello, advice if possible please! My husband and I have recently decided we would like to move, so are smartening our house up ready to go on the market. We haven't yet seen a mortgage advisor to confirm what we can afford, but plan to shortly. My husband has a permanent job with fairly low salary enhanced by on call and…
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Buy2let remortgage
Hello, I own a 2 bed terrace house, bought 2 years ago for £100,000, (valued at £125,000 as of March 2020) as a buy2let interest only as my pension pot. Outstanding mortgage is £76,300 Monthly fixed mortgage is currently £138 per calender month. I have a good tenant in situ for last 2 years. My fixed rate mortgage expires…
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Transferring Titles whilst turning it into BTL
Hi, I’m on roll with the questions. So, my wife jointly owns a house on a rented property with her sister. We need to take her name off it as it’s affecting our ability to borrow as much as we’d like for a house we’ve put an offer on (see my other post). The house is worth C150k, was brought for 127k in 2007 and had 73k…
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Current Halifax customer yet struggling to get a new one.
Hi there, I have recently purchased a new home with my husband. We are current Halifax mortgage customers and when we had our offer accepted we contacted them and spoke through the options regarding porting our current deal (we just remortgaged in 2018 and were on a 5 year fixed rate) or taking a new deal altogether. We…
