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When is the rate secured (NatWest)?
If my broker submitted an application (by application I mean pressing the button to switch I didn't have to submit anything else yet - we are existing customers) for a product switch through the NatWest Portal today when is the rate secured from? Submitting the application? Or the receipt of the documents they will send…
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Would extending the term until remortgage in a few years make sense?
Hi, We are a month away from our mortgage offer expiring with a fixed rate (5 years) at 2.5%. We are looking at how we can afford the mortgage if our offer expires. The new monthly amount would be 30% to 40% higher at today's rates. We could absorb some of this rise. I see our options as: negotiate a price reduction, find…
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Confirmation about remortgage
Greetings everyone, Looking for a little advice and some confirmation about the remortgaging process. My current fixed deal with Halifax ends on the 31st of January 2023 and I would have to pay 1% ERC if I were to remortgage now. However, I have received an offer from Lloyds for a 5 year fix at 3.7% which is valid until…
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Request Offer Extension or Pay ERP?
Hi, My wife and I are coming towards the end of our five year fixed-rate deal. Having seen that rates were starting to rise, I started looking around early and received a mortgage offer from Kensington back in July. The offer is at 3.26%, fixed for the remainder of our mortgage (22 years). Somewhat frustratingly, despite…
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Is it still worth submitting an application?
Hi all, Looking if anyone has experience with First Direct Offset mortgages. They specify you need a Sole salary of £50k - my base salary is just £1100 below that but in addition to that I have the following: - Contractual Allowance of £3k per year/£250 per month. Received for the past 7 years and this alone takes me above…
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‘Frivolous’ spending
I have been saving to buy my first home for years. But, with the market in its current state, I wasn’t intending on buying this year. As such, I allowed myself to be more frivolous with my spending. However a property has popped up unexpectedly, as a private sale, and we’ve agreed on a price. However, I am now worried that…
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Halifax mortgage tracker
Hi, We applied for a Halifax mortgage last Saturday (directly) The MA did the hard search and apparently we returned an A1 rating (I don’t know what that means but guess it’s good) Valuation was booked for this Thursday, which was all fine I have an element of bonus so provided 2 years payslips, but the income box on the…
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Mortgage rate increase how much will it add to my monthly payment
Hi can anyone tell me how much my monthly payment would be on the £10,000 I have left to pay on my mortgage if the interest rates are 5%, I'm rubbish at maths 😀Thank you
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After the immediate chaos resolves is 4-5% interest rates going to be the new norm - Fix now?
Currently on a 2 year tracker with 18 months left, been offered 4.23% 5 years, (They have withdrawn that product as of today but am told I am told I still have the offer) Tracker is 2.86% below Mortgage companies SVR, £1500 erc. I don't intend to move, historically it seems b of e base rates have usually been above…
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Remortgage advice
Hi, We were in the process of sorting a remortgage with a broker a couple of months ago however it couldn't be sorted and now that product was taken away with the Government's announcement. That was a good rate with a small jump in monthly payments. Our mortgage expires in February and we have £295k outstanding. We have…
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Remortgage advise (HSBC March 2023)
Hi Just wanted some advise on what to do, like many mortgage deal runs out soon (March 2023) and panicked about the huge increase in monthly payments. I have 215k outstanding, single applicant and flat is worth about 360-370k. Rate is 2.5% was fixed for 3 years, remaining 24 years with HSBC I got an email from the broker…
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Halifax purchase and re-mortgage rates going up from Monday (10th October)
Rates going up across the range, new product guide can be seen here If you are currently reviewing any Halifax recommendations, or your broker is waiting on your go ahead, please get in touch with your broker. I wouldn't read too much into this. Halifax is currently flooded with business from the few days that they had…
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Nationwide Morgage - can I move overpayment
Hi, I made some overpayments on my mortgage amounting to 6k (not to reduce payment \ term - showing as an overpayment) prior to the last time I fixed my rate 2 years ago (5 year fix). I took out a further advance 1 year ago to pay off my HTB loan - similar amount to first mortgage, but just a 2 year fix as planned to get…
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mortgage affordability panic
Hiya, mortgage application jitters and I need some advice, reassurance! Basically I am adding my name on the mortgage with my sibling, so hence a new remortgage application. I sent them my payslips and this was ok, but they sai they needed my bank statements so they can match my payslip entries to the same money coming in…
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Halifax Re-Mortgage - property down valued.
Hello We submitted our remortgage application earlier this week with Halifax, and our MB came back this morning to say that the Mortgage Offer has been issued, and we should receive it in the post in the next couple of days. She also says that our house was downvalued by £10k, taking us from 74.7% LTV to 78.9% LTV, but…
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Overpay mortgage v save...how to calculate most efficient?
Struggling to find search terms for this but please point me to previous resource discussions and close post if need be. My mortgage rate is 1.69% fixed until Jan 2024. Happy with this position but rates in market making me reassess current actions. I overpay £100 per month currently and could go to £150, but want to make…
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Halifax mortgage extension
Hello, I was wondering if anyone has been in the same situation? or can offer any help? I had a mortgage offer from Halifax which had an expiry date of the 30.09.2022 I asked my broker to see if I could get an extension, she said all was fine and that Halifax were automatically extending offers until 31.10.2022. However, I…
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Worried about upcoming mortgage refinance
Hi, I guess I'm not the only one who is worried about this, but my current mortgage rate is 1.3% fixed and due to expire in May 2023. Some say mortgage rate can soon hit 10% or even more! Mortgage payment will be like 5 times more. It won't be sustainable.. I don't want to lose the dream house i managed to buy.... any…
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Remortgage Nightmare
We moved into a new house last year that we bought on a 2 year fix with Halifax at 1.99% and 80% LTV. The deal ends in March and I've spoken to a mortgage advisor this week who told me the best rate now is a 10 year fix (!) at 4.24%, except I found out today that this product has been withdrawn and everything has increased…
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