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Confused first time buyer mortgage question regarding a partners house as a deposit.
Ok, middle aged first time buyer needing some advice and getting more confused reading webpages and forums. I hope someone, preferably in the same situation can help me. Ok, the situation is that I live alone and am going to buy a house with my partner (she owns her house outright). Her house is sold, we have had an offer…
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Halifax - Rental Income?
https://www.halifax-intermediaries.co.uk/criteria/mortgage/default.aspx I was just reviewing the 'Rental Income' section. Is it implying that rental income can only come from properties which have a BTL mortgage? i.e. tenants on an AST agreement I receive rental income from lodgers which will be on my self-assessment this…
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Back out of purchase but bring the mortgage offer?
Hello, We have agreed a purhase price and have paid the searches fee and mortgage valuation fee. We are now just waiting final confirmation of our mortgage with our lender (Scottish Widows) which should be any day now. We have now found a much better property that would actually be a lower value. We would keep the LTV the…
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Virgin Money rate hike
So unfortunately a Financial Times article popped up on my phone earlier mentioning big rate hikes this week to stem demand. I'd received a DIP this week from Virgin Money and it looks like they put their 5-year fix rate for 65% LTV up from 1.64 to 1.96%, having been just 1.55% only two weeks back. I received a partially…
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Weekly vs Monthly Mortgage Payments
Hello, My mother has a Halifax interest-only retirement mortgage. While reviewing it with her, I noted that the interest is calculated daily. I was wondering if there would be any benefit if she changed her standing order to make weekly payments, the shortest payment frequency permitted, which would equal her current…
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Awaiting mortgage approval....
Me and my partner have just put in our mortgage application to Barclays, help 2 buy so mortgage is 75% LTV. Both our credit scores are good and affordability is not an issue at all, but my concern is that on my credit report I have 3 late payments in the last 2 years on 1 store card. (All paid and only show as 1month) Does…
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Halifax aip
Hi there, I have just applied for an aip from Halifax and been accepted. Can u still be rejected after this. Its asking to make full application just wants 1 wage slip and details of tax credits. The thing is I have 2 ccjs . 1 is coming off in November and the other in 2022. Do you think when I put in full application they…
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Halifax - how can I escalate to get long running issue resolved?
Hi, Our mortgage offer with Halifax was received several weeks ago, and we've completed all conveyancing. Only 1 thing is stopping us from exchanging which is a query outstanding, which our solicitor first asked of Halifax 3 weeks ago. Solicitor has tried really hard to get a response - called, emailed and faxed. But he…
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Any point paying this off now?
Curious to see what the MSEs on here would advise in this situation: I am looking to build an extension to my current property and the dilemma is about the best way to fund it. I have saved money for this purpose and this pot is now at virtually the same figure as my current mortgage balance, which is an interest-only…
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Mortgage with bad credit?
I am a few months out of a debt management plan. I have 2 defaulted accounts from 2018 that I still pay a small amount to a month, they total around 13k. My Experian credit rating is good and my partners is. We earn 50k between us. At the moment we have 12k for a deposit and hope to buy a house next summer with 20k deposit…
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NEVER REMORTGAGED IN 12YRS
Looking for help and support and where to start basically. I have never remortgaged in over 12yrs since buying first home. At the time we had very little deposit so were unable to have a high Street lender (so we were told) Where do I start. Monthly amount has always been roughly the same in all those years so now really…
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Engagement and Mortgage
I'm planning on proposing to my partner and have bought a ring on my credit card however we are also plan on trying to buy a property in the near future. Would I be better paying off the credit card IN FULL with money I've been saving for my part of the mortgage deposit therefore reducing deposit amount or doing a balance…
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Single 43 year old female trying to buy a home
Hello, so I had a house with my ex husband, we ended up selling it in 2013, since then I have rented, 3 children (altho 1 x uni now, 1 x 6th form, 1 x 12) I have been renting 4 bed house, lovely area, landlord recently put price up to £1095 per month, I really don’t need 4 beds anymore, I could go down to a 2 bed, I earn…
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Mortgage with current arrears
Does anyone offer mortgages to people who have current mortgage arrears? If someone currently had arrears of say £10k, had missed 5 payments for no good reason this year, and had missed 7 payments for no good reason the year before, how soon would that person be able to remortgage with another company?
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Mortgage frustrations
Hello - me and my partner are having a really frustrating time trying to get a mortgage at the moment. I know from this forum that we’re not the only ones, but we’re trying to work out what to do next. I’ve only bought my flat before and that process was much easier and quicker, at least the mortgage bit was. We had our…
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Self employed getting mortgage;
I wanted to share my friend's story as I know self employed mortgages are really hard to get: My friend, simply gave all shares to her mother in law for 12 months before and then “applied as employed” she put 50K as deposit and borrowed £258,746 against her income. She is now the sole shareholder and I wanted to share for…
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Retirement interest-only mortgages
I am considering applying for a small RIO mortgage of approx £20,000. I retired 2 years ago & am currently mortgage free. Does anyone have experience of RIO's or any advice ?
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Valuations during lockdown (Wales)
Hi, We are currently waiting for an update on our application that was submitted a month ago. Hopefully we will progress to valuation - however we are due to go into lockdown this evening in Wales for 17 days. Will Valuations still go ahead does anyone know? Its a new build, not on a development. Thanks
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Any advice?
Good afternoon, I am currently purchasing a SO flat with my friend. He may need to go back to his country, so I was wondering if anyone has ever experienced this. we have been assigned a property (SO) and we are in the process of buying it. If I tell the housing association about the issue, but I can apply with my partner…
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Cash in 1 year early?
I have 1 year left to pay in on my endowment policy. This year my yearly statement showed that I paid in £1200, however after fees the growth was only £300, so I made a loss. If the fees are the same next year and growth hasn't continued (due to Covid) I may make a loss again. If I cash in now I loose the last 3 years…
