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Financing purchasing next door to knock through?
Could anybody shed some light on how possible it is to finance the purchase of a neighboring property, with the intention of knocking it into one please? (in Scotland if relevant) Our neighboring property is currently empty after it's long term tenant vacated, they were a hoarder and the property is in a grim state in…
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Early Repayment Charges - Should They be Reduced by Amount You Are Allowed to Overpayment in a Year?
With regard to Early Repayment Charges, I was wondering why these are not reduced by the amount you are allowed to over payment in a particular year? For example - If I have a mortgage for £100,000, with an Early Repayment Charge of 2% and if I wished to repay this early…ordinarily the charge would be £2,000. If this…
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Remortgaging questions
My current fixed-rate termed mortgage expires shortly and I am considering - among one or two options I am pondering - to apply for another fixed-rate termed mortgage. Firstly, assuming I do not re-mortgage by the time my current fixed-rate motgage expires, does my current lender simply switch me over to their variable…
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£1800 gift towards house deposit from mums boyfriend
Hi everyone, myself and partner are FTB. We have done very well saving for our 1st home while renting at same time, and have made a Offer recently that has been accepted!. I have a great broker working for me. My mother’s boyfriend has very kindly given us a gift of £1800. This will help to top up the last bit of deposit…
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Variable Rate?
I am currently with Barclays on a fixed rate of 1.75% which ends in July. I then go onto their variable rate. Any idea of what it is? It only seems to show their fixed, tracker etc rates. Any idea how much my payment would go up by. It's £404 just now, but as I've only got 8 payments left until my mortgage is completely…
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Bank is asking for a 40% deposit
Myself and my wife are first time buyers and we’re looking to renegotiate our mortgage due to the current interest rates being more favourable. On asking the bank to start the process again, we were notified that the deposit for a new build property is now 40%. Has anyone else experienced this change??
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Buying my ex out of a 1-year old mortgage
Hi everyone, Would appreciate some advice on the process of buying out my ex on our fairly new mortgage. We split up around 1 year after we got a mortgage on our first home (flat) together. He is happy for me to buy him out but i'd like to know the process and any costs associated? I don't think I'll have enough money to…
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Any HTB experts on here?
Our situation - We reserved a new build home before the lock down but never got round to legal exchange due to admin problems on the developers side. We paid for solicitors checks etc... When they finally sorted their issues out it was too late to progress to offer stage with the lender we had an AIP with. The developer…
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Voluntary temporary salary reduction - will that scupper a mortgage application?
Wonder if any brokers (or anyone!) may be able to advise... I voluntarily agreed to waive salary and live off savings for 3 months to help the business I'm working for through a Covid bump. Now I've seen a property that I'm quite interested in, but will have 0.00 on payslips for April, May and June. How would a lender view…
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Cancel Mortgage Holiday
We applied for and got a 3 month mortgage holiday from Halifax as we weren't sure at the time whether out earnings would dip and also whether my wife would be able to keep her job for the 3 months ahead.They way things are going I think we're going to be ok and will probably be able to meet the mortgage payments.I can't…
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I’m not enrolled on the Electoral Roll. Could that stop my mortgage application?
My partner and I have recently applied for a mortgage on a new home that we hope to purchase. Our mortgage lenders, Halifax are currently in the underwriting process but are yet to perform credit checks. We (partner & I) have both come to realise that I’m not on the electoral roll at all, despite being on it in the past at…
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Conveyancing standards
Hello, I am in the middle of purchasing my first property. I have a mortgage offer in place and there is no chain, searches and survey have been done, the property is vacant. The sellers and I have agreed on a completion date at the end of the month, I've asked my conveyancer if that would be feasible nearly 2 weeks ago,…
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Getting a mortgage with a Default - anybody had a similar issue?
I am after some advice about mortgage applications and defaults ... myself and my partner have a combined income of £74,000, his credit score is excellent however my score is only classed as fair, with Experian and good, with Equifax and I think this is because in 2015 I had a default with Halifax (this is a settled…
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Mortgage settlement calculation
I am wondering if there is a way to work out a mortgage settlement figure, can't seem to find any calculators online for this. Say my mortgage was £114,000 and I was on a standard variable rate (3.59%) with 27 years left and I sold the house, any idea how much this would come down by?
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Mortgage and DMP
Hi I'm new on here and cant seem to find an answer to my question. I was hoping someone on here could advise if the idea we have is plausible as this would be our first mortgage. We are council tenants and we qualify for a discount on our property. We also have a DMP which is well under 10k. Our situation has improved and…
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Mortgage offer still on ice pending valuation
Hi. You might remember me from earlier in the year, posting about any one of my many previous properties that have fallen through for one reason or another - or in fact my flat that was put on the market last August and still hasn't quite made it over the final hurdle. New questions, guys - about house number four: Anyone…
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Remortgaging with H2B
Hi there, We began remortgaging well in advance of COVID-19, with the aim of being on a lower interest rate which would save us money over time. Unfortunately with everything that has been going, we have been delayed somewhat with Homes England not taking deeds through the post, which a work around wasn't agreed for over a…
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Shared Ownership legal fees
I am looking in to a shared ownership property as a first time buyer, I was wondering if anyone knows roughly how much the legal costs for the initial purchase would be? I want to be able to factor this in to my savings so I don't end up with a nasty surprise at the end. Any other advice/experience people have had with a…
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95 LTV
When will they be back?
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Overpaying Mortgage
Hi. This may be a stupid question but here goes! I overpay on my mortgage by £320 a month. The overpayment is currently paid the day after my mortgage payment. I’m wondering if there is an optimum day to pay the overpayment i.e same day as mortgage payment, day after, day before or does it not make a difference? Also if I…
