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Refinance loan before mortgage to improve affordability? Or complete madness?
In the next 2-3 months we're looking to purchase our first home. We've been through our finances with a fine toothed comb, have a deposit saved for 90% LTV and credit-wise we're ship shape: no missed payments, CCJs, etc. We've paid off a credit card and just have a loan outstanding which we took out early last year to buy…
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How long do I wait to make a mortgage application if I've just got a new CC?
Hey, I wanted to start a mortgage application. Have 95k saved deposit, earn 56k, no student loan, pay off all CC debt in full every month so no missed payments, first time buyer and it's a single application. My slight issue is that I decided to get a new credit card with Amex as it was giving me a good initial limit of…
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Do Offset/Flexible/Current Account Mortges no longer exist?
Where the rates are comparible to standard mortgages and allow either a savings account to negate the interest so you can withdraw when you want, or similar by overpayments and underpayments/withdraw money as and when you want up to your limit.
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ap1 form box 4 and 14
hello, I need a bit of help completing the Ap1 form that i am completing on behalf of my wife. Her mother died quite a long time ago and we have been putting off doing the forms because of how difficult they are to complete. Her mother was the sole owner of a flat with no morgage, My wife and her brother have jointly…
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Temporary switch from capital repayment to interest only (selling house and relocate abroad)
Hi everyone, I hope if anyone can help me or provide some insights/advice? I have received an offer from my old boss and I'm moving to Dubai for work. Hence i'm selling my house in London. The house selling process is not really great at the moment. Lack of viewing and no one put an offer yet so I'm starting to get a…
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Closing and opening utility accounts - impact on applying for mortgage
Hi all, After a separation, I am faced with having to rent as short term as possible while trying to arrange a new mortgage. This will involve: * Closing utility accounts on the property I am leaving (or just taking my name off as ex is remaining - not sure if that counts as closing the account?). * Leaving a mortgage on…
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Is it a bad idea to apply for a new credit card three weeks before we have to remortgage?
Our current mortgage deal runs out at the end of this month (29th) and my current 0% deal on my credit card runs out in two days (7th). My credit score (as accurate as they are) is 999 on Experian so that shouldn't be a problem, and because I have some options available to do a balance transfer to another 0% deal credit…
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Possible to have a Deed of Trust showing different shares of the mortgage principle?
Hi, My partner and I are due to remortgage and will be doing some big renovations around the same time. We're tenants in common with 50:50 mortgage payments and 50:50 equity, covered by a Deed of Trust. We want to keep the same equity split for the foreseeable future (perhaps but maybe not changing on marrying/having…
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Going to apply for a mortgage in the next two years should I switch current accounts
Hi, Looking for some advice please I'm going to apply for a mortgage in the next two years. On my current account there is some gambling transactions but I've stopped that now for a while. However I think there would be a possibility through OpenBanking down the line when I apply for a mortgage these would flag up but…
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Aldermore Mortgage Application Timescales
Just wondering if anyone’s recently applied through Aldermore for a residential mortgage and what your timescales looked like? We’ve just had our valuation done yesterday, not heard back yet and not had any hard searches added yet either. They seem to have done our valuation first by the looks of it before underwriting of…
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Aldermore mortgages
Hello. I am feeling anxious, and answered how likely our Aldermore application is to be accepted. DIP approved, full application sent next day Three days later call from Aldermore to broker saying how much they can lend and rate. Agreed some debts paid off and a slightly higher borrowing amount and back in three day wait.…
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Temporary switch to interest only mortgage, is it worth it?
I wonder if somebody could help please as I have absolutely no idea where to start with working this out Could anybody please work out how much we would pay for a temporary seitch to interest only on our mortgage for a period of 6 months & then what we may pay afterwards. Not even sure if its possible to work out tbh! But…
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Remortgage or Tracker Mortgage
Sorry for the dumb question, this is my first time buying and selling a property. I took a 2 year fixed rate on my current property in November 2023 so I assumed it would end this November. I spoke to my mortgage broker and told them that I would like to sell and he told me that my mortgage ends July 31st this year. My…
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Mistake on credit file, will Santander reject my mortgage?
Hello FTB here. I got sale agreed on a house and applied for a mortgage through Santander, house has been valued and all going well until Santander asked for an Experian credit report (I use equifax to check mine) long story short, it turns out virgin media have been reporting to Experian that I am in arrears with them,…
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Help please
Hi, I need some advice please. I have a 10 year fixed mortgage at 2.34% with 5 years to go, My original mortgage was for 145k on a purchase of 225k. My outstanding mortgage left today is 91k. My current house has been valued at between 280k and 300k. We are looking at downsizing to a smaller property. I have checked and my…
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Extra capital payments query?
Hi all Just trying to understand some figure with my mortgage. I'm with Monmouthshire building society. I pay £590 p/m repayment mortgage. If I pay an extra £100 p/week. They said I can either reduce the term of my mortgage or decrease my monthly payments. Is one route more lucrative financially than the other? (or will i…
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Early Repayment Charge
Hello! I am completing on my house sale on Friday, unfortunately I’m completing before my mortgage deals ends, so was expecting to pay an ERC, but on our latest redemption statement from Nationwide it says £0 for ERC, when I sign into my account it also says £0. I called nationwide out of honesty as I didn’t want to get…
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Strange question from lender
Hi we have an application in with Leeds building society, it’s been about 3 weeks now. They’ve come back with 2 lower loan amounts so far and are re-reviewing again. Yesterday, they asked our mortgage advisor if I had any “personal vulnerabilities” ….? She confirmed that I don’t but stated it’s a very strange question. I…
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Mortgage company gave incorrect advice
Long story short. We were told by our mortgage company that we could port our mortgage to our new property (part commercial/part residential) as long as the title of the property was split. Splitting titles happens on completion so on their advice we paid our mortgage off in full, paid for the new property with all of our…
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Retirement Properties
Is it possible to get a mortgage for a retirement property, or does the set up mean that either banks or the housing associations don't like it?
