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New mortgage
I currently live in a mortgaged house and I'm thinking about selling and moving. Can I borrow more than I need to buy the new house and access the additional money as cash for home improvements or is it more sensible to get a bank loan?
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Interest only mortgages
Hi all. I am looking for opinions from people with experience or knowledge of interest only mortgages. I wouldn't have considered one in the past but I'm feeling desperate. Bit of background info. Currently live in a terraced house. Repayment mortgage. If I'm honest I am in a house that matches my income and I am quite…
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Interest only for 6 months. Revised payments afterwards seems to good to be true?
Hi all. I'm 1 year into my 5 year fixed 20 year mortgage. I've asked about going interest only for 6 months as I'm having some time off work. I pay £590p/m atm They said it would be £340p/m for 6 months interest only. Then after 6 months it would increase to £595p/m So for that decrease in total for 6 months it would only…
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Buying ex-husband out of house, self employed over 50
Hi, I really hope someone can give me some really good advice on here. Mortgage currently stands at £170k. When husband left mortgage was £206k, he is entitled to 40% of the equity in 2 years time when daughter turns 18. I am self employed. Current income is around £42k, after expenses about £32k. I have a tenant that…
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Nationwide DIP reliable?
Looking for some advice/reassurance. I have a mortgage but am looking to move home and increase borrowing. I had a bit of a nightmare during the pandemic. Lost my mum and went off the rails for a bit. I have 2 defaults one for a catalogue at 357 and another for an overdraft at 483. Both registered in October 2021. Both…
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Mortgage broker negligence?
Hi all, Looking for a little advice as I think I have been massively screwed over by my mortgage broker and I'm unsure if this would constitute as negligence and what I can do about it. I've been going through the process of buying my first property for the past 4 months. I had supplied my broker with all the relevant…
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Mortgage with an overage contract
Afternoon all I'm looking for a lender who will offer a mortgage where there is overage on the land surrounding the property .. the mortgage is relatively small compared to the value of the house, but the land around the house is ripe for development and the owners have an overage requirement in case there is development…
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Limited company mortgage accounts
Hi I am in the process of applying for a mortgage, me and my partner are directors of two limited companies. one company has been running for 10 years plus. the second has been running for 3 years. for the second company I have two years filed accounts. the third year accounts (ended yesterday) will not be completed and…
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Fixed Term Employment Contract
I am 4 months into a 1 year teaching contract. I am 25 years old and this is my first fixed teaching position. After university I was an agency teacher for 15 months before taking maternity leave (this was planned after university, hence not going into a permanent position) during maternity leave I was offered a teaching…
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6 months interest free
Can anyone help? We have a large mortgage (£300k) which comes to the end of its low % fixed deal in June. It still will have 20yrs to run and there is no scope to extend the term due to our ages. My husband is unemployed and I am considering asking to go interest only for 6 months. This would take us beyond the end of the…
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another mortgage over payment question
I have 224,563 with 15 years left. I am a higher tax payer. I paid an extra £3k last week on the mortgage with Nat West and they've reduced the monthly payment rather than the term. Is this still worth doing in the future or can I ask them to reduce the term? I've tried speaking to them, but it's all AI tech and on…
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Kent reliance - our story & timeline (mortgage with defaults and other issues)
Hello. Just wanted to share some positive news , as we've finally got our offer with Kent reliance, after been declined in January. Little bit of a timeline : 27/12/23 - Applied for a full mortgage 04/01/23 - additional documents 16/01/23 declined 27/02/24 - re-applied 08/03/24 - offer received A bit of a background - we…
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Fixed Term Payments within Term Length
Just had a look at your Ultimate Mortgage Calculator and found there is no way to calculate a Fixed Term (of 2 or 5 years) with the same mortgage company/bank within the period of a mortgage i.e. 15, 20, or 25 years. I understand that I would, in efect, be starting a new mortgage after the fixed term is up, however, the…
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Using existing jointly owned property to obtain new mortgage
Hi All, I have tried to do some research and just wanted to some advice/thoughts on potential options. The situation currently is: -Living with younger sibling and my partner. The property was gifted to my sibling and I, which we jointly own mortgage free. -Partner and I are a bit older and are looking at options so that…
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When can I remortgage?
Hi, I am new to mortgages and the house buying world. I have a 7.20% (don't ask.... Had major issues getting a lender due to bad debts/poor credit but it was just important to get one at any cost!) 35 year, 2 year fixed mortgage. The first payment was made November 2023 As of December 2024, I have made 14 repayments. I am…
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An unusual situation...
Hi everyone, I'm in an unusual situation where I want to buy a property (solely for me to live in) for £60k. I have £20k deposit and a decision in principle (from Nationwide) for a 4 year mortgage on the £40k (I'm 59 now). Assuming I'm able to get one of the mortgage products that allows unlimited overpayment and is not…
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Selling a house
We sadly had someone pass away in family how long would it take to sell house and money to go into bank. I believe it’s longer than a normal sale. Anybody had any experience as I had people say as quick as 3 months to aslong as one year.
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AIP Rejected then Approved
I recently applied for an agreement in principal from Yorkshire Building Society, where I currently also have a savings account. At the second attempt it was approved. However the first attempt was rejected due to something on my credit report and I was advised to contact Equifax. The only thing I changed between the first…
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Is porting our best option?
We’ve only recently thought of selling/buying a new house and were in no rush until our dream home came up on RightMove. Going off Zoopla, if we can get the mid range estimate for ours and knock the other house down slightly we will need to borrow an extra £60-70k ish to cover the cost of the house and stamp duty. We are…
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The Ultimate Mortgage Calculator discussion
Update 19 October 2010 We have spent the last few months expanding this, hopefully making it... erm, ultimate-er?! It has new calculators, including: - Offsetting vs Savings/Mortgage - How much can I borrow? - Compare 2 fixed rates - Should I save or repay mortgage? Would be great to know what you think, and especially if…
