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FTB Advice
Hello,Looking for some first time buyer advice! My husband and I have not been actively looking to buy a home however we have suddenly found one (for a very low price, 100k, needs a lot of work) and are thinking of applying for a mortgage. We have a great situation, between us we have over 4k a month coming in after tax,…
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remortgage to buy a house with a friend
Hello, I am mortgage free and would like to release money from my house, its only a small property valued around £75,000.00. A friend and myself have talked about buying a property together to let out, we are looking at something around £80,000.00, so that would be £40,000.00 each. At the moment I have very little savings…
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45% LTV, Bad Credit & furloughed... Chances of mortgage acceptance?
Hi All, My partner and I currently have a mortgage application in the hands of Halifax underwriters. Property is £550k and looking at HTB scheme and our deposit combined, the mortgage is only 45% LTV. I have a blip on my credit score from last year and currently on furlough. We submitted a letter from my HR Director at…
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Re-mortgage
Hi can anyone tell me which is better please. We currently are mortgage free but wish to release some money . Is it better to do equity release or can we remortgage? Thank you for any advice
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Circumstances changed, I've told my lender....what next
My son has additional needs, and during covid it became impossible for me to work from home. It was either stay employed and unpaid for time off with him, or become his full time carer. I opted for the latter. The only thing is is were about 6 weeks away from completing on our house purchase. I've spoken to the lender, and…
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Any Adverse Mortgages Agreed?
Hi all We’ve been eagerly awaiting August when our broker thinks our adverse defaults will be old enough to get help to buy mortgage. But now due to pandemic and lending restrictions I wanted to know if anyone has had a mortgage agreed with an adverse lender in the last month or so?
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Complicated pay structure - acceptability of overtime and other sources of income (NHS worker)
I was wondering if anyone knows (either through their work as a broker/underwriter or through being in the same situation as me) whether there are still lenders out there who would be willing to accept both overtime income (a large percentage of it) AND bank shift income, as well as a London weighting and child…
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4.5x income + 90% LTV - pipe dream?
Hello! I'm new to all this - a first-time buyer - and have been looking at a few properties of interest. I've been told 85% LTV is likely the best I can do at the moment, but having seen a small number of 90%s out in the wild from an online search am wondering if 90% might be possible at that level of income multiple (it…
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Is “no fees” really no fees?
Looking to remortgage from Halifax. Their best deal for fixed 5 years is 2.59%, running comparison seems HSBC, FD, Santander etc have much lower, around 1.70%. The monthly price difference is about £30-40. My LTV is around 37%. I know I’m not guaranteed to get this, but the other mortgage say no legal fees, no valuations…
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Mortgage 1 month bank statement
Hi, I've recently applied for my mortgage as a first time buyer with Skipton. They only asked for a one month bank statement and I was expecting them to ask for a longer one than this. Would they be basing my average spending on this one 31 day period? I'm a bit concerned cause my car insurance was due that month so I paid…
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Furlough pay and moving home mortgage
Hi all, Hope you are keeping safe and well. I have just accepted an offer on my current home, I believe I have found a house I would like to make an offer on but I can’t help but feel worried that I will not get the additional mortgage amount required to buy it, as I was originally offered pre-COVID. The current mortgage…
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Calculating how much equity I will have in 5 years?
So we recently took on a 25 year mortgage of £155,700 at 2.4% fixed for 5 years.Monthly payments are around £696 and our deposit was £17300. How can I calculate how much equity this will leave us with in 5 years at the end of the term? We'll possibly want to upgrade then. Obviously it depends on how house prices fluctuate,…
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Kent reliance
We originally had a mortgage in the pipeline but then covid struck. Applied with another-got declined after nearly 4weeks, applied with kent reliance yesterday, initial underwriting was done this morning and valuation instructed. Now the quickness of this has me worried!! 🤣 Should I be concerned? Is valuation usually…
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Mortgage Porting
Hi, I am in a fixed-rate mortgage, of which the fixed-rate runs for approx another 4 years. I would like to sell my house and move to something bigger in order to accommodate an expanding family & mother-in-law potentially moving in. I know if I sell my house and move, I would have to pay the mortgage back, and therefore…
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Mortgage- 1 year of accounts- any experiences/advice?
Hi, Can anyone share any experience/ advice about trying to get a mortgage as a ltd company director with just 1 year of accounts? I know I'll need to go through a broker but just wondered if anyone can share their experiences with me, particularly in the current climate? Thanks
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How do I go about getting money owed from partner buying me out of mortgage?
Hi, I wonder if anyone can help with some advice please? My partner and I separated three years ago. We had a joint mortgage. She stayed in the house, I rented a room in a friends house. It was her house originally but I had put quite a bit of money into it and been paying the main amount of the monthly mortgage for quite…
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New house - Living with parents but getting mortgage in my name
So, I have a unique situation. I don't live with my partner but I'm hoping to soon, she lives with her parents due to various circumstances with a break up of her marriage many years ago and her parents ill health. Her parents want to move as they do not like the area they currently live in, so have suggested we all move…
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Virgin Money 90% ltv
Does anyone have any idea when Virgin Money may restart their 90% ltv mortgages? We’re currently stuck in a fixed deal but are buying a new house and our broker thinks we should be able to avoid the Early Repayment Charge if we continue with Virgin Money - except they’ve temporarily stopped them.
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Mortgage for Director/Limited Company
Hi there, A quick one. I would like to know if there is any way I can get a mortgage of £150,000. I have a deposit of £210,000. I have a limited company of a £75,000 turnover and I pay myself PAYE £24,000. There is no profit in the company since it’s reinvested. The property I’m looking at is a help to buy. Is there any…
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Exchange and Complete the same day... Is it risky?
Hi, I'm currently selling my apartment and moving to a new build home. Everything should of have been completed around the 10th April but due to Covid has seen delays. Cut a long story short everything was back in place and I was given a completion date of the 26th June. Only Tuesday Morning my solicitors confirmed the…
