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Remortgage, worst case?
Good evening, I am currently on a tracker mortgage, my fixed rate finished at the start of the year, but didn’t increase much so left it be until now. I want to put a conservatory on the house, so looking to remortgage and add the cost of the conservatory style built onto the house at around £8000. My worry is, my wages…
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Where to store remortgage extra money for home improvements?
Hello, I am currently remortgaging and borrowing extra money to do some home improvement works. The works will take months to happen and to pay in invoices so for a while I will have alot of money to store. (Well alot to me!) Do I put it in a savings account? Premium Bonds? ISA? Current account? I have a savings account…
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Removing one person from Help To Buy HTB mortgage and property
Hello MSE Forum, I hope to be able to find some guidance here as it seems to be a tricky subject. My now estranged husband and I purchased a flat using a HTB mortgage. We've agreed he shall be removed as owner from the property and be removed from the mortgage, too, because all the capital for the downpayment was my own…
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Port application - Clydesdale
Hi all, first time poster, long time viewer! We are currently going through a port application with Clydesdale and are feeling incredibly anxious as our next option is a 7k ERC and a much higher full interest rate. My husband is the sole earner at 102800 basic and 95k OTE (Last 2 years average of 70k comms) Mortgage…
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FTB Help! Restructure existing debts to improve affordability?
Hi, and thanks in advance for reading! I'm a first time buyer hoping to get a mortgage within the next 3 months. I can afford a max of £200k ish with my current income and debt outgoings however if I reduce my debt / outgoings I can hopefully borrow around £340k based on the research I've done so far. I have 9.5k on a…
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Remortgaging and planning for a baby
Hi all, Can anyone offer some advice. We have been on a 5 year fixed mortgage which is ending in March 2026. We have been discussing trying for a baby in the new year but I had a sudden thought about the fact that we will remortgage in March and I'm wondering if potentially being pregnant at the time of renewal will affect…
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Bank refuses to calculate redemption figure
In the MSE guide to remortgaging it says: 5. Get the exact figure you still owe on your mortgage so you don't end up with a shortfall https://www.moneysavingexpert.com/mortgages/getting-ready-remortgage/ and goes on to advise that you should ask your current mortgage lender to tell you the cost of paying off your mortgage…
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Mortgage decline reason and appeal
Hello all This is a very long and complicated story, so I will focus only on the key points relevant to getting some help, please: * I have submitted a mortgage decision in principle that was declined. * The lender wouldn't give a specific reason, but gave the extremely vague answer that it was due to adverse data on the…
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Likelihood of last minute credit check - Nationwide
Hi all, We're completing on our house in a few weeks. We're FTB. Our mortgage offer was issued by Nationwide with a note in there to say my credit card needs to be cleared (balance was approx £2k when I applied). Being completely honest, a lot of the costs we've had to pay leading up to the house purchase have been…
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Mortgage Tipping Point
Hi, I'm into the 18th year of a 27 year tracker repayment mortgage. The Monthly Mortgage is £464 but the capital reduction each month is about £190. I would have thought by now we would be paying more capital than interest. What are your thoughts?
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Overpay Interest or Capital and Repayment
Hi, I am sorry if this has been asked before, but I want to over pay my mortgage. It is made up of 2 parts, one part interest only and the other capital and repayment, both due to end in 15 years. Does it make more financial sense to overpay the interest only or capital and repayment part? Thanks in advance.
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Govt help to buy loan. In current climate should I pay it off?
Hi all. Was dead set on repaying it this yr and somebody just made a very gd point that I should rethink n weigh up the interest on it Vs paying off and house prices. He doesn't believe I should and rather pay the mortgage down asuch as I can for now as that's higher Vs property price increase and the loan interest. More I…
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Low-LTV (£125-150 k) mortgage with 75-y-o parent – lender options?
Key facts * Purchase price: £625 k * Equity from sale: ≈ £567 k * Loan needed: £100-150 k (≈ 20-24 % LTV) * Refurb budget: up to £60 k (kept from equity) Applicant 1 (me) * Age 41, trainee surveyor (RICS) * Salary down to £28 k from £90k as retraining → rising to ~£50 k in Aug 2026 when I qualify * Clean credit (never had…
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Joint or Solo Mortgage?
Hi all, My husband and I are in the process of buying our first home together and are weighing up whether to apply for a mortgage jointly or in just one of our names. I'll be selling my flat and using the proceeds as our deposit. Although the funds are from the sale of my property, we're treating it as a joint purchase.…
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maintaining a token balance
It used to be recommended to maintain a token mortgage balance as a protection against fraudsters claiming your home, and also as a way to keep the deeds safe without incurring storage fee from your bank. Is there a protection still in asking the mortgage lender to retain a token balance?
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How do I calculate the HSBC tracker vs fixed rate saving?
HSBC Remortgage - want to move in around a couple of years....want to stay with same lender, they seem to always be the best with rates and exit fees anyway... £185k : 30 Year Term commencing 1st July HSBC 2 Yr Tracker 4.49% £999 HSBC 2 Yr Fix 4.04% £999 I anticipate BOE rate to drop say in August, so tracker will be 4.24%…
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Mortgage Rates Natwest
Hi My mortgage ends in 4 months time and I have been offered the below 6 options by NatWest who my mortgage is with at present. Currently have a balance of £126357 with 29 years and 1 month left and 60% ltv. 1. 2 year fixed at 4.32%. No fees 2. 2 year fixed at 3.93%. £995 fee 3. 2 year tracker at 4.97%. No fees 4. 2 year…
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Best way to overpay these two mortgages - advice please!
Hoping someone with a better brain for this can give some advice... I am in a fairly fortunate position and trying to work out the best way to do all of this... Hoping this is the right place for this. Have mortgage 1, 160k on 2.48% fixed for 10 years from Nov 2022, ends Oct 2032. 25 yr term. Current balance 125k including…
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Accord mortgages following payday loans
Hi, wondering if anyone has any experience of an Accord mortgage following payday loans. These were paid off 4-5 years ago and other wise my credit file is absolutely fine. However we only have a 5% deposit. The first stage was approved (AIP) and now we are very nervously waiting for the underwriting. I’d love to hear some…
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AIP to Mortgage offer
Hi, sorry for what might seem a stupid question. But whats the difference between submitting an AIP and a formal mortgage offer? I have an AIP with Accord, slight historic adverse. My Mortgage broker has been provided with all documents thus far thats been requested such as pay slips, credit files, bank statement (that my…
