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20 or 25 years for a Interest Only BTL?
Hello everyone, I'm about to remortgage to an interest only BTL. Fixed for 5 years. After 5 years we will of course remortgage again, to avoid the SVR. I can't decide if we should choose a 20 or 25 year product? The interest rate is exactly the same. Any advantages in picking one or the other? We will be paying off some of…
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Mortgage application timescales
Hi, I was wondering if anyone has recently used Ipswich building society and what their timelines were like? Their website doesn't seem to be accurate. Also, does anyone know who NatWest use for valuations/surveys?
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Overpaying
Hi all. Can anyone tell me if overpaying every month will help me to get a larger mortgage next year when we move to a bigger (more expensive) house ? Thanks
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Joint mortgage but not on deeds
Hello, I’m new to this forum so please excuse me if I make any mistakes. My son and his girlfriend are first time buyers and have a fairly decent amount saved already to put down as a deposit. Unfortunately the amount they can borrow on their joint salary isn’t enough to buy in our area ( or even further afield) We are…
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Can I move my new approved Mortgage to another city if I have been transferred by my work
I have had a Mortgage approved by Halifax in December 2020 for a 3 bed house in Birmingham.(the process to complete has only just began in Feb 2021 as sellers solicitors have been really slow) But My Job is in construction and most of my companies sites are in London .I have just been informed of transfer request to London…
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Bank account and mortgage
Finally in a position that we’re saving for a mortgage, still about 18months to go. I wondered if our bank account would have any effect on applying for a mortgage, we have a basic cash account with no overdraft. We did it a few years ago for clearing debt reasons but tbh I’m happy not having an overdraft (esp with higher…
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Mortgage when selling and buying
Hi.Please can someone advise me on the best approach when looking at a future mortgage application in an awkward situation. Basically I am selling my house and hopefully buying another at the same time. As it stands the mortgage deal for the home I am selling (my home) is coming to an end in July 1st 21. The rate is 1.89%.…
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FTB mortage application rejected above commercial
HI everyone, I need an help as struggling to buy the perfect flat after months spent in searching it. In November I had an offer accepted on a 2bedroom in SE1 (bermondsey) just above a shop (printing company, next to a pizza takeaway). The price is good as £420.000 for the area was impossible to find few years ago.…
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Halifax mortgage - awaiting decision
Hi, just after some reassurance I think. I’ve been reading others Halifax timelines and they seem quick. So, I own my current home outright. It was a bank repossessed property that I bought in a poor state if repair and was cheap so able to buy outright. me and my partner have decided to move. I have some debt from the…
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Halifax price index
Hello I'm wondering if anyone can advise. Coming into the last year of mothers fix with Skipton. She is a bit confused with her ltv, I looked at mine and similarly confused at first. My LTV gave me 30% equity, 30/70 when I was expecting 22/78 approx. Spoke to them and they use the Halifax price index to work out LTV. If I…
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SHARED OWNERSHIP STAIRCASING QUESTION
Hi, I am probably about to start the process of staircasing my 50% owned home up to 100%. It all depends on the valuation, as the H/A will take my renovations into consideration despite them not paying anything towards them - one of the pitfalls of S/O and naivety back then!... 😒😒 I bought 50% share of the house in 1999 at…
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Mortgage valuations
We have a mortgage currently - recently switched deal and desktop valuation was used. Currently have application to borrow more (with same lender) to pay off help to buy loan. The chap i spoke to who submitted the application said they sometimes use desktop valuations, sometimes use drive by and sometimes full valuation.…
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Mortgage Offer valid but valuation expired
Hi , Just need some advice on what does this means. My buyer solicitor is a nightmare. Just before we were due to exchange they come back and say that that buyer mortgage is still valid but the valuation has expired so they need a confirmation that the valuation can be extended in line with the offer expiry date. Does it…
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Mortgage advice does this sound sensible?
Hi all, I spoke to a fee free whole of market broker recommended by a friend of mine. He recommended that I go for a 5 year fixed deal @ 3.44% with Halifax (35 year term). 35 year term initially to ensure payments are manageable and he said I can always overpay if it turns out I have some extra funds. I am told the 5 year…
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Stamp duty
Me and my wife are buying a house for £115,500 I am a first time buyer but she is not, do you know how much the stamp duty would be for us or would we not have to pay it with the house being only 115, 500
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Advice would be appreciated, slightly unusual situation
Hello I was hoping to get some thoughts if possible. I am 60 and my wife is 55, I work part time freelance from home earning 15 - 25k gross/pa. I also have a small pension which gives me 10k net. We don’t have a mortgage and live in a nice little house worth a around £200000 (rural Scotland). We would like to move and have…
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Complicated House Buying Scenario!
Hi folks Myself and my other half are about to apply for a mortgage, but the situation is what you might describe as 'a bit fiddly', so I thought I would ask for opinions before we proceed. Until very recently, we owned two houses, our main house and a small rental property. We have sold the main house (sale completed last…
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Ipswich Building Society
I was wondering if someone can help please. What are your experiences with Ipswich Building Society and what are their timelines like (the website is incorrect)? I have been quite anxious over the last week or so in regards to our application (fully submitted pack on 25/01), we still have not heard anything about it and…
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Release Equity for multiple purposes at remortgage?
Hi, I have tried researching but I am unable to find the answer I need so hoping someone here could help 5 Year Goal Remortgage to repay HTB loan Complete a buy to let purchase Im in the fortunate position to save £15,000 per year [£75,000 in 5 years] What I want to know is there any benefit to over paying the mortgage…
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Mortgage application with Universal Credit
Has anyone had a successful mortgage application on Universal credit. We’ve applied with Pricise and are unsure if this will be a problem.
