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First Time Buyer Mortgage Rates And Loan Percentages
Hello,I just had a conversation with my bank about getting a mortgage but they're only currently doing 60-80% loans. Due to the lockdown they're currently not doing the 90/95% loans for first time buyers. I want a mortgage in my name only and have £15,000. I was looking at a place on the market for £175,000 so need…
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Long gap between exchange and completion - during a pandemic!
Hello, as the title suggests, we have found a house we love but it has been part exchanged. The people who own the house are living in the property until there new build is completed (expected no later than September). It was all going smoothly, notice of completion to be agreed along with a long stop date etc, until I…
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2 months into a 3 year fixed rate, rates have significantly dropped and lender won't budge
Hi Everyone, I just wondered if anyone can provide me with advice please? My initial 2 year fixed mortgage rate of 2.02% with Halifax was due to end 31st March 2020. I received all of the usual reminders and decided to be well prepared and fixed in a new deal on 2.89% for 3 years towards the end of January. I was…
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General Mortgage Questions
Hi all 🙂 Hoping you are well! I have a few general questions about mortgages. Some context before we begin: I have a AIP and mortgage promise with the Halifax that was gained in February this year. I work for the NHS so secure job and my wage has even slightly increased since this promise was gained. Paperwork is all…
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Getting a mortgage on a second home advice
Hi, I'm currently named on the mortgage on my old family home with my brother where he lives along with my mum. He's the first named on the mortgage if that makes any difference. He's unable to get the mortgage under his own name or with my mum as she doesn't work. I'm currently renting a property with my wife and hope to…
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Slippery Mortgage Broker - (Put it in writing)
My mortgage offer was made around the time that the Corona Virus disruption started. At the time I asked my mortgage broker to keep an eye on whether my mortgage lender reduced the rates on that mortgage in response to the BoE reducing the base rate twice in quick succession. That was a couple of months ago and my mortgage…
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Help please
long time since I have had to ask a question, sorry. My son is looking for a mortgage and has the 10% deposit for the house he has the offer accepted on. Problem he is getting is now his adviser is saying that due to coronavirus lenders have started excluding overtime, which had been included before this situation. Anyone…
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Can I borrow my mortgage deposit?
Hello Can't find the answer for this anywhere on google. If I put a £25k deposit down on a house which costs £250k (10% Deposit), can I immediately borrow that money back for home improvements etc.? Or does the bank have to always hold a minimum of 10%, and so I'll have to wait until I've paid some of the mortgage off…
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Mortgage advisor refused to help us due to "internal compliance regulations"
Hi all just looking for some advice. Me and my partner reserved a property and were planning to use help to buy equity loan as part of the deposit. We went through a broker, sent all our paperwork to him and he filled out and sent off our help to buy form. Spoke to him on the phone and he told us mortgage options and said…
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Releasing equity
Hello hopefully this is the right place to ask. We are looking at a loft conversion but do not have the money to pay so would be looking at a loan or taking some of the equity in the house. But I don't know what is best or how to do it. If the conversion was 30k for instance can I just take this from the mortgage lender…
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Concessionary purchase query
Hi everyone, My boyfriend and I have submitted a mortgage application to buy his nan’s house who passed away in November - the house has been left to my boyfriend and his three siblings so he will be getting a 25% share, some of which we are using as the deposit. The only lender we are able to use is TSB, as no other…
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Is now a good or bad time to buy a first home?
My wife and I are ready to buy our first home and hopefully start a family.. we have: * Near perfect credit scores * £20000+ in help to buy ISA's + £10,000+ extra * A mortgage in principle and a provisionally accepted offer on a perfect home for £250,000 as long as we can borrow that much. The best mortgage I've found so…
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Precise mortgages
Hi, has anyone completed on a precise mortgage, what checks do they complete and what questions do they ask on the completion call?
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Easier the second time around?
We bought our First house 5 years ago. Since then our salaries have increased to a joint six figures. Looking to move to our final home, and Natwest AIP is for a ridiculously high amount even though I have a high-ish cc balance (purchase price up to £715k apparently haha). Is getting a mortgage easier if you’ve already got…
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Self employed question
Hi, my wife and I are hoping to purchase our first house together in a year or so but I just want to check, our accountant has told us that they would use our profit figure before capital allowance deductions, is this correct? I think we are to far away from looking to purchase to get in contact with a mortgage adviser!…
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Valuation of Help to Buy property without EWS1
We’re looking at moving, but we’re stuck waiting for an EWS1 form as our building was completed in 2018 before the new fire regs came in. The management company are generally useless and don’t seem to want to provide any information on what they’re doing about getting one, and just keep repeating how long it takes to get…
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Experience on getting a mortgage on a house within 20m of a coal mine shaft
I’m looking to see if anyone has successfully managed to get a mortgage on a house with a mine entry within 20m of the boundary of they property they are looking to purchase. We have had everything set in place for weeks and now our mortgage lender have now declined to lend to us on the basis of the mine shaft being in…
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PCP Nationwide Mortgage Application
Hello, Does anyone have any experience of Nationwide’s approach to car PCPs when applying for a mortgage? Our application is in with them to port our existing mortgage and add an additional amount to make up the value, equating to a 90% LTV. We have our AIP which I included my monthly car payments of 298, however on my…
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5x Salary Mortgage?
I was originally looking at moving to a new build using HelpToBuy, but with the plot that I'm interested in getting put back and not being a first time buyer, it's looking unlikely that I'm going to be able to be eligible by the time the house is ready. So instead I've started looking at 5x salary mortgages, which seem to…
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How is interest per month calculated
Hello,This may be a stupid question - BUT can someone please explain to me how our mortgage interest rate is calculated per month? We are on a 1.94% interest rate, 3 year fixed. Each month we pay £953.39, and of that, interest taken is (on average) £384. So this means around 40% of our monthly payment is taken off for…
