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Remortgage now or wait till feb 2023
I have I have just received a letter from my mortgage company stating my fix term is up in feb 2023. They say I can remortgage now with them, so my question is do I do it now or wait? How long do I wait, till after lizz truss talk or just pick up the phone to them tomorrow and do it before, or even wait till next year?…
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Gifted deposits
Just a quick question to ease my mind. we had out mortgage offer through 4 months or so which consisted of a partial gifted deposit with the gifted deposit form etc filled in etc. the process has been a bit drawn out but I think everything has been answered now, this week we had to submit documents for money laundering…
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humour me/educate me
Appreciate anyone checking my maths here…apologies for the stream of consciousness but hopefully there is sufficient info there We have a 2 part mortgage with one lender. Initially was
going to go to a mortgage advisor to try and find a way to switch provider but
now doubt it is worthwhile (but very happy to be educated).…
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Help relative with Mortgage cost (Tax issues)
Hello, Can I help my sister with her mortgage bills by helping pay off some of the principle amount so her monthly payment bill is reduced ? If so, how much can I contribute without tax issues ? I know in the UK there is a annual "gift" amount you can give without tax implications, but in this case the money does not go…
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Mortgage Redemption Quote
Hi, I have the funds to pay off my small mortgage, but I am still in a fixed rate period with HSBC at 1.04% for next 16 months. With online banking I can get regular redemption quotes and the early repayment charge is roughly the same as the interest over the next 16 months. The redemption quote states the following- Daily…
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Have the mortgage terms changed?
My wife and I are getting divorced. I was recently let go from my job. I moved out a month ago. I want her to put the house up for sale so I can buy my own smaller place with the proceeds but she doesn't want to move. There are no dependants. I can't contribute to the mortgage as I must pay my own rent. She is paying the…
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Equity release or Lifetime mortgage
Hi can anyone give advice on our situation, we’ve got 2 years left on our mortgage but I’ve also got £75k on interest only (long story). Property valued at £450k I’m 59 hubby 61, would like to release money to pay off interest only portion and/or have money in bank to enjoy do not need to leave it to children don’t want to…
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Mortgage in Principle - For someone on Commission, Bonus
Hi All, Hoping you could help? I have a mortgage in principle from Halifax to borrow X amount of money which was based on 3 months of payslips as well as my partners. I am in sales, so a large portion (probably 50%) of my income is based on commission and bonus. I provided 3 months of payslips for May, June and July this…
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Building work: take 3% loan out or pay from savings
Hi, Just looking for some advice/ thoughts. Im going to have some building work done... For arguments sake, lets say its going to cost 100k. My bank has offered to give me a fixed stand alone mortgage loan for about 3% for the next 5 yrs, then i need to remortage etc, but could liquidate some investments. My question…
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Fixed rate ending! Help!
Remaining mortgage Balance £42,921 at 2.33% rate ending June 2023 11 years remaining can anyone give me any idea/advice on what new fixed term interest rates are looking likely to be? We’ve always fixed for 5 years should we fix for a shorter/longer period this time? thank you
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Energy price cap - impact on inflation & interest rates
It's now looking likely that the government will be freezing the energy price cap or otherwise intervening in energy prices. If so, I wonder if this will have a bigger impact on curbing inflation than raising interest rates ever could. Does this mean that future interest rate rises will now be lower than previously feared?…
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Mortgage redemption is a punitive. Any advice?
OK, so we finish a 5 year fixed rate with Scottish Widows next May. My wife (post Brexit) has taken a job abroad so we're selling our house and it will be sold 8 months before the end of the 5 year period. The bank demand five thousand pounds (£5000) for us to leave. The full fixed interest up to May would only be £2000…
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Gifted Deposit Problem
Hoping someone can offer some advice. My father is gifting some money towards a deposit and has been asked by my solicitor to satisfy their money laundering checks by showing evidence of every link in the chain that the money has travelled along from pension payout to latest savings account. It's been going on a for a…
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Solicitors and completion dates
Hi I’m due to complete on the 23rd September. Iv done initial id checks etc, the solicitor confirmed start of last week he was examining deeds. How long before your completion did you start getting site of the contract details for missives ?
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Re-Mortgage or Move to SVR?
Hi My 4 year fixed deal is due to run out in April 2023. 1 - We have been considering remortgaging now, before interest rates potentially rise again in the coming months, and paying our early exit fee. 2 - Waiting and remortgaging to a fixed deal at the end of this current deal 3 - Letting ourselves drop onto the SVR What…
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Gifting Money Towards Daughter’s Mortgage
My daughter and her fiancé are about to purchase their first house. I am able to gift my daughter a substantial amount to help towards the deposit but I would like the amount safeguarded in case they separate in the future. Is it possible to have something written by the solicitor to say that in the event of them…
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Using pension as investment vehicle for paying off interest-free mortgage
Hi there, I probably plan to take this question to a financial advisor, but just in case I've missed something really daft I thought I would ask on here. If someone can give me a really good reason not to do it I'll save the money on the advisor! So, I am a higher rate taxpayer, and have to fill in a tax return so am able…
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Single parent buying a house with cancer
Hi, I am hoping for some advice please about my current situation and purchasing a property. I am a single parent to a teenager with an incurable but manageable cancer. I work full time and feel in good health with all things considering! I have been given some money (£30k)by a relative which would help me get onto the…
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Mortgage as a single parent
Are there any companies take 100% child maintenance, universal credit and child benefit into account? My current lender only takes 60% of these which is stopped me getting a mortgage!
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Moving home with debt
Hi, I am looking to sell my current house which I am the sole person on the mortgage and buy another property with my wife. Since taking out the mortgage I have a couple of credit cards and loans which I pay monthly and have never missed a payment. I believe my credit rating is very high. 1000 Clearscore 999 Experian. I…
