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Mortgages - Paying a little bit extra
Hi Everyone First time poster here! I had been in the lucky position of overpaying 10% of mortgage last year. I only overpaid 10%, to avoid paying any fee's. I received a letter from my bank telling me that my monthly payment is going to reduce. I contacted them stating that I wish my over payments to reduce the term of my…
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mortgages
I am on an interest only tracker mortgage with fixed margin of 4.09% until the term ends . My base rate on my offer is no more than 1% above the bank of england base rate . my mortgage is a Kensington KSVR . we were sold to engage credit in 2022 . even though in my offer it states i have a fixed margin today my margin was…
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Natwest product transfer rates for existing customers?
My fixed-term deal with Natwest ends on June 30th. My broker encouraged me to apply with another lender asap to ensure I had an affordable offer available to me, in case rates rise. They submitted an application to Nationwide for a 2 year fixed term deal at 4.34%. I was under the impression that all Nationwide products…
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Bluestone Mortgages & Overdraft
Hi All, Just looking to see if anyone has relevant experience to mine and my partners experience. We have had an offer accepted on our dream home and got our DIP within 10 minutes of applying to Bluestone Mortgages through our broker. Both of our credit scores are in the poor and very poor range (hence our broker…
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mortgage application - credit advice
want to purchase a new house - we have 252k equity and the new property is 500k i earn 58k , partner earns 21k don’t think the lending is an issue - but my credit score has taken a dip due to taking out a credit card - paying for a holiday - and then clearing the card, but i also took out a 5k loan in Nov to consolidate a…
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Mortgage change and first time help to buy scheme
Hi All, My son is splitting with his wife. They have a mortgage with a first time help to buy scheme. Since my son would like to stay in the house and not sell and if we are able to give the DIL her portion of the money she would have got from selling the house is it legally possible to remove her from the mortgage…
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Mortgage overpayments confusion
We started a 5-year fixed rate mortgage with Virgin Money in 2023, and we are looking to make monthly overpayments (around £200). Checking the documents and one of their points: What does "We can't guarantee that we will be able to honour your request, but we will try." mean? Does this mean that when we phone them, they…
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Mortgage - Prior year self assessment mixed income source
Hi there, I'm currently self employed and looking at moving home and taking out a new mortgage. In April I will have 2 years self assessments which have been files, the current year will be 100% self employed income, the prior year was around 50% employed and 50% self employed. When it comes to affordability and lending…
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Mortgage
Had a 2 year fixed mortgage, which ran out last month. Trying to remortage with another lender, but takes some time. The currect lender has doubled the rate to 9.5% without consent, is that legal? Mis selling financial products maybe? any thoughts welcome. DT
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Remortgage and Transfer of Equity issue
Grab a stiff drink, sit down and strap in... this is going to be a bumpy ride! Background; I bought my house back in 1995 on a joint mortgage with my wife. We had budgeted for everything that we could imagine (Martin would be pleased!) and she agreed to pay me £400 and then everything would come out of my account. This…
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Remortgage process
I'm in the process of going through my very first remortgage. My current deal expires on the 31st of January, so this week, and I'm not sure if I should have had confirmation/any communications from the new mortgage provider/conveyancers to confirm that everything is in order. I have a mortgage offer from FirstDirect and…
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HTB and Remortgaging What To Do?
Hello everyone, I know there have been a number of posts regarding HTB and
paying it off or leaving separate but I struggle with all the numbers so I'm hoping
to put in my situation here for advice. The mortgage I took out was £168,499 fixed for 5 years at
1.56%. That ends in June 2025 The HTB amount was £72,000 This means…
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AIP v Final Offer
Hello, Looking for some advice please. My husband and I engaged a broker and gained an AIP for £243k in December 2024 and were advised that when our credit files updated (as we had cleared a lot of debt), this would likely increase. We reapplied Mid Jan and our broker advised this had increased to £255k. We found a…
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Mortgage and debt repayments
Hi all, my Wife (35) and I (39) are potentially and unexpectedly potentially being gifted a house deposit. Here’s where the problems start!! My wife and I have had debt that we are paying off.. 2 loans one for £484 and £320. (Long story short I retrained in my career 3 years ago and took a substantial dip in salary and…
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Mortgage term ends in 18 months!! Unable to extend with current Mortgage provider
I have separated from my ex and moved into a property that I own but had previously rented out. The property I moved out from was due to exchange but fell through at the last minute a few days after I moved out. The term on the mortgage of the property i now live in ends in 18 months and the plan was to use my capital from…
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Calculation Confusion
Overpaying Mortgage: Halifax Currently £99,958 at 4.49% for 19 years Overpayment allowed for yr = £10,021 Monthly payment - £650 Am I better overpaying in small lumps throughout the year (to make up the £10,021) to 'save on interest' immediately (term only gets adjusted at the end of the year) or Just pay the full £10,021…
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Taking out finance through Novuna before house completion?
Hi, We are currently going through the process of buying a house, it's dragging on a bit due to some unforeseen problems and slow communication from the sellers' solicitor. We have until 9th March before our current mortgage offer expires. I recently completed my probation period at work and have since received perks…
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Overpayments and bank reducing monthly payments
So in 2022 i took out 16 Yr mortgage, fixed for 10 yrs. Halifax are clearly not liking me making my allowed overpayments as they have reduced the monthly payments. I have now submitted claim to the FOS following the banks refusal to go back to the payment we both agreed in 2022 when agreeing to terms. I can see from other…
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Building Loan Brokers
Hi all, I'd really appreciate any thoughts on if there's a way other than random online searches to find out which mortgage brokers specialise in banks and building societies in England/Britain providing house building loans? And what would one need to know to select the right mortgage broker in this situation?!
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How much can I borrow?
I know I can get a mortgage in principle to find this out, but my broker has advised me to wait until we find a house that we want. The problem with this is, I have no idea what house I would be able to afford? I already own a home which is sold STC, and based on simple maths of earning £50,000 per annum I could get a…
