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Buying parents house
Hi Everyone I'm recently separated. I can't afford to live in the house I'm in so I'll be selling it in the next 6/12 months. One potential option i have is to take me and the kids to move in with my elderly father and buy the house from him whilst he is still living in it however there are a few unknowns for me and i was…
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Web site listing all available mortgages/interest rates etc?
Is there a web site that lists all the current mortgage rates across all banks/buildling societies etc...? Am sure I have used one in the past (years ago), and I found it quite useful to quickly compare available mortgages/interest rates etc.. I was also able to filter the list by entering which type I wanted to look at ,…
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Buying house from spouse
Hello, I'm currently going through a divorce and the spouse wants to put the house up for sale, I am considering buying it if I can afford the mortgage. If I do go ahead and purchase the property would I have to pay stamp duty? The purchase would not be part of any offset of assets or part of the divorce agreement. TIA
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Mortgage help
Hi,I don't quite know where to start, in short my ex husband managed to fraudulently cash in my endowment policy in around 2004-2005, he was subsequently arrested for other fraud in my name but no charges were ever brought. However one credit card company took me to court and a charge was put onto my property, I then…
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Overpayments
Hello Any advice would be gratefully received. I am coming to the end of a 5yr fixed mortgage at 1.89%. The balance of the mortgage is £190k. I have been though an independent broker, L&C and MSE Best Buys Mortgages and found another mortgage to start when the current fix ends. The new mortgage that I have booked out is…
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Redeeming mortgage in chunks?
Hi everyone, I'm fortunate in now being in a position where I can pay off my mortgage sooner than expected. Unfortunately I'm in a mortgage deal so I'll have early repayment charges to make, but they'll still be lower (just) than the interest that would build up if I waited until the end of the deal and pay the mortgage…
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Remortgaging after going from employed to self employment
Hello everyone I purchased my property Sept 2022 on a 2 year deal. I am looking to possibly go self employed in the coming months which would only give me around a years accounts on file. I am aware you need 2 years accounts in most cases when getting a mortgage. What implication will this have on my situation? Has anyone…
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Need advice on mortgage deposit and investment decisions
Hi all, I am turning 26 soon, live at home, salary £33.6k and this is my current breakdown of savings: £24k in cash, £9.5k in Lisa & £31.5k in Index funds (Mostly S&P500, overall 75% US stocks) I am a long term planner and my goals are to have a large investment pot in 20-30 years while simultaneously looking to get on the…
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Freaking out right now mortgage in doubt before completion
So background Mortgage been approved Exchanged contracts Thursday To complete on 6th April Last night check my credit score And on 13th March I have had a ccj listed on my account Had no idea about this never got a summons was registered at old property (haven't been there for 9 months) It is only for £300 I think it must…
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Using employer grant as part of deposit
Hi everyone, I posted this in the house buying forum a month or so back and only realised today that this is probably the right channel for this query. I am a skilled worker and will be eligible for for ILR in summer this year so will be applying in a few months. My employer, who has sponsored me and I have worked for them…
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On mortgage - not on deeds
hi all Scenario: person gets mortgage with partner and does not go on deeds (stupid I know). Couple split up! what rights has my friend got if any? Does he have any claim on the property at all? 4 years left on mortgage and his ex won’t agree to taking him off the mortgage and says he had no rights to the property ad you…
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Overpay piecemeal or save and overpay in a lump?
I'm probably overthinking this but wondered if there was an easy online calculator anywhere. I'm in the fortunate position (through a second job) of having a decent surplus of monthly income. I have never bothered to overpay the mortgage because it's been tighter until recently. Mortgage - I'm approx 6 months into a 5 year…
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Mortgage abroad and in the UK?
Hi, Need some advice. Just wondering if someone has been or is in the same boat. My partner and I are currently in the last stages of buying a property abroad for €180k. Contracts have been exchanged and we’ll be collecting the keys next month. For now we would just like to keep the house, do some renovation to it and use…
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Turned down for additional borrowing
Hi, I would appreciate some advice here. We have had our nationwide mortgage for a year now. We have been wanting to build an extension and when I enquired last year, they told me to wait until I had had the mortgage for 6 months, and that I would need planning permission in place and builders quotes. Fast forward to now,…
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Director mortgage requirements
Hello everyone. I have been the director for roughly 2 years now and the only employee. I would like to know what is required of me and the company to obtain a £500k mortgage. Please help me with the below questions: 1) how much do I and the company need to be earning on a monthly basis to be in a good position to achieve…
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Re-mortgaging whilst on secondment abroad
My niece and her partner both work for a multinational company in the UK. She is shortly moving to Spain for a year on an international assignment with a fixed end date and is leaving her current job but not forfeiting her UK contract and as part of this arrangement, she will return to an equivalent role (but not…
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Self employed proof of earnings on mortgage application
I have worked for the same company for 4yrs but have remained as a self employed consultant for tax purposes. Now I am looking to apply for a mortgage… what documentation will I be asked for? I can have my company provide me with remittance slips for the last few years. Will this be enough or will I have to provide tax…
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Are we doing the right thing?
Our 5 year fixed rate of 1.79% ends on 30th April The best fixed rate our broker has found us is 4.04% with NatWest, fixed for 5 years. Will be £923 a month which we can afford I'm 39 so just about remember the days of higher rates so maybe going on long term averages 4.04% isn't so bad and have the security of knowing…
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Are 2 year fixes now the way forward as opposed to 2 year trackers...
Barclays and MANY other lenders seem to have dropped rates drastically today, most trackers are now 0.75% above their equivalent fixes, with BOE increasing again in May, thats a potential 1% difference, and I don't see BOE dropping by 1%, before the 2 year fix is up? Thoughts....
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Mortgage overpayment - questioning the key advice!
Hi all, We have a lump sum of money that we want to use to overpay our mortgage (there are no overpayment penalties). I know Martin gives the key message to always ask for overpayments to reduce the mortgage term rather than reduce monthly payments but was wondering if actually it could work out better financially to do…