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Rental property versus paying off current mortgage
Inheritance received - Could someone advise please on whether it is better to; pay off some of current mortgage and invest some in rental property pay off none of the current mortgage and buy outright a rental property do buy to let on current salaries after paying off mortgage In essence, Is it better to have money from…
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Stamp Duty Surcharge Refund
March 2011 - We purchased our first homeAugust 2017 - We purchased our first and only BTLJuly 2018 - We sold our first home, and purchased a new home I would be very grateful for your guidance please. As above, we currently own 1 home and 1 BTL property. We paid the 3% surcharge of Stamp Duty on both purchases. Would we be…
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Should I pay a 6% ERC?
Hi I owe about £50k on my mortgage. Due to a family death I should be coming into £25k in about 3 months. My mortgage is a 10 year fixed which I started 2015. Interest rate of 3%, ERC of 6% (so, effectively 2 years interest). The ERC will come down to 3% at the end of 2022 Given that savings accounts are paying next to…
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Nationwide Mortgage Help LTV
Hi, our house is currently on the market for sale at £112000. We have an outstanding mortgage with Nationwide of £60000. We are planning/hoping to buy a bigger property which will obviously mean a bigger mortgage. I’m confused with the recent changes and what they mean for existing Nationwide customers. Can we increase our…
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Mortgage with foreign currency
Hi, I am new to this forum and I would really appreciate any advice from mortgage gurus! I am based in Northern Ireland so it can be quite difficult to find advice online as most websites refer to mainland UK. I have found a property I am interested in and will be needing to secure a mortgage. My problem is that I…
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Remortgaging BTL property when temporarily overseas
We are a British couple in France for another 3 years, and one of us is on secondment from UK office and paid in GBP and the other is on secondment to OECD and paid in Euros. We are trying to find out how we can remortgage our UK property (still as a buy to let) while resident in France. Most of the rates we've seen…
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Renewing Mortgage **HELP**
Hi, Both myself and my partner have been making repayments on a mortgage since November 2015 without missing one. We are now approaching the end of the 5 year and with the current situation are both unemployed (I finished my last contract at the end of February (LTD Company Director) and my partner was asked to leave her…
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Starting to worry!
Hi hope you are all having a nice Sunday! I’ve posted a few times over the past week and everyone has been really helpful. Seems like the more info I get the more I worry though. My main concern is that we are 6 years 10 months post bankruptcy (5 years 10 months post discharge) and in addition to this my husband is a CIS…
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Survey - how big is your mortgage?
We are looking at buying our dream home, but this would increase our mortgage from 157k to 365k. We are young and don’t have kids (we won’t have any) and will be saving on travel and energy costs. It would be an extra £450 a month on what we are already paying which is doable but wondering if this is an extremely high…
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Mortgage porting
Good morning, Our fixed mortgage is coming to an end and our mortgage provider is sticking us on a nice 4.5%tracker, so needed to shift iy. I D thinking about fixing for 10years (who knows what might grasshopper next year). We have 80% LTV an so about stick on what we can get but find a 2.19% no fee for 10 years, seems…
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Mortgage application post furlough
Hi, I was due to move into my house in just under 2 weeks but covid happened and my fiancé was put on furlough so our mortgage was put on hold. He has received his start date as the 20th July and his company have written a letter stating that he will be back to work on this date and returning to an annual salary of £££. We…
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Sick pay in relation to mortgage application
I have recently been off sick due to a COVID-19 infection, and following a period back at work I have been suffering with the post viral illness which is affecting a significant minority of covid patients, and am now off sick again. I'm almost certainly going to breach the level of weeks off where I will begin to receive…
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5 x salary mortgage
Hello Does anyone know any lenders offering 5 x salary mortgage at the moment? (Or above) Excellent credit history, no committed spending (FTB with no loans etc). Mid 40s salary through PAYE. Struggling to find info online just want to know if I'm barking up wrong tree thinking that multiple is achievable. Due to support…
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Halifax Mortgage with historic default
Hi Looking for a bit of advice regarding a mortgage application. I have a historic default from august 2014. I applied through a broker and they advised to apply to Barclays which I was hesitant but trusted him. It got declined. I then gave Halifax a call as I've always banked with them and thought why not, I rang them and…
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Mortgage offer reissue
Hi, We are in the middle of buying a property and already received our mortgage offer from Natwest on 90% LTV. I paid for a full building survey and in the survey report there’s some major issues with the property. I managed to get £10k reduction on the property value. My lender is Natwest and want to know if they will be…
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Apply now or wait?
I'm currently on furlough pay and was on maternity leave since August. My pay is based on my role as assistant manager position roughly 22k. I will be on furlough until August but my employer can only give me an 8hr contract to return to. This drops my salary to only 3648 (although I will be working more like 24 hrs a…
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Best way to pay a 10k mortgage when current fixd rate ends 6th july.
Our fixed deal on our morgage ends on 6th july 2020. We will have 10k left to pay. Would it be better to put this on 30mth 0% balance transfer cards and pay off as much as we can . Then in 30mths do it again. Thanks
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Question about part repayment part interest only mortgage
We have a part repayment part interest only mortgage that ends in just under 3 years. When we originally took the mortgage out my husband took out a pension plan which should have covered the original loan but it became apparent that wasn't going to come anywhere near paying it off. We are also making overpayments of the…
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Should I scrap MA & go direct?
I applied in May through mortgage broker to HSBC and beginning of June the mortgage product got pulled and they declined us because there was confusion over if my partner self employed had ceased trading so they was only going by my employed salary. My MA has said we got to wait for a product to become available and then…
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Shared ownership when already part-owning a house
Hello, I can't quite find the answer anywhere so thought I would ask here. I co-own a house with my father. I live there with my family. My dad and mum also live here too. This is due to various reasons. The lockdown has made us realise we need to have our own space (although we were aware of this for a while :) ) and just…
