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Renovation finance?
Hi, I was wondering whether anyone had an opinion or experience on renovation mortages? Im thinking of buying a restoration project for my first home. However, once my deposit goes on the mortage, I wouldnt have any funds left for restoring the house. I saw this company on 'build, buy or restore' and they managed to get a…
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Stuck on 6.14% fixed rate until September
Hi all, I lost my job last August and am cringing at the fact I'm stuck paying about £60 more a month by being on a fixed rate... I've checked and it'll cost me over £1k to come off the fixed rate so I think all I can do really is wait out the last 8 months and leave it to switch to the variable rate (now 4.5% according to…
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Mortgage payment holiday offered then rejected by nationwide
I contacted Nationwide and arranged a 3 month payment holiday in December. I drew their attention to the arrears on the account (ie. HALF of one month). In light of this I could only have 3 months holiday. Then I got a letter on Saturday saying the offer was given in error and they are not backing down till the arrears are…
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Default on credit rating... help please!!!
Hi guys!! I'm new here so forgive me if I sound dumb or naive, but I need help quickly!!! My partner and I recently went to buy our first place together. A new build, 75/25 deal... I know not everyone agrees that they are the best, but it's best for us, and literally all we can go for.... but thats not the issue. Due to…
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interest only
My husband and i have recently split up and our fixed term repayment mortgage is coming to an end this month i am looking to switch to an interest only mortgage, so i can still live in the house with my two young children as i only work part time i just wanted to know what is the best way of saving to pay of the capital of…
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How do i take equity out of my propety w/o getting a BTL mortgage?
OK so im desperate for a bigger place but i can see alot of potential in my little London flat re rental income vs mortgage, location is great for tenants and before July 2007 we had made great money in value in just two years. So i dont really want to sell it. But I need space. I have considered renting it out and renting…
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Mortgage Agreement
I have a buy to let mortgage with Barclays. It is a tracker at 0.39% above base rate, with no cap. Barclays have recently sent me a letter with my Mortagage agreement form attached, and asked if I could sign it again as they have lost the original agreement. Do I sign the agreement as they ask and send back to them? If I…
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Advice on buying hubby out of mortgage/house
Not sure if this is the right place for this, if not please feel free to move. Hubby and i are getting divorced, some of you will have seen my other thread. Well he has agred that i can buy him out of the mrtgage and the house. House is worth about £120000, mortgage is for £35000. £15000 of endowmants due August 2009,…
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tracker mortgage
i have a tracker mort with first active for £194k interest only no cap and no collar, now that interest rates have dropped to 1.5% I thought payments would be reduced to £242.50 pm. Just had a letter today saying that they have been reduced to £405. I worked this out at 2.5%. How do they work their figures out. thanks
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FTB - Oh yes another one asking questions.
As all other FTB i'm thinking of getting a property this year. I want to wait until the right time to buy a place so i get the lowest price but i don't want to wait until everybody else is doing the same and i don't get the pick out of the best. I'm not very clued up on mortgage rates and deposit. But currently at the…
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Mortgage enquiry for shared property
Hi all Hope someone will have knowledge to answer my queries. We are first time buyers purchasing 50% of the house. According to this independent agent we are dealing with, the best deal on mortgage we can get is 6.83% fixed for two years. Apparently not many mortgage providers offer loans when only purchasing shared…
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Can I make my repayments any smaller
Okay Here goes.......
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How to refinance an 5/1 ARM?
Hello! We currently have a 5/1 ARM with 2.5 years left on it. We are not in foreclosure, or cant make the monthly payments, etc. But we want to try and take advantage of the current rates going on. We would like to be able to pay some principal on the house. But we are also in a pickle. We may end up moving in 2.5 years.…
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large deposit not enough income
i want to buy a house for £250,000 i have £130,000 left from the sale of my house once the morgage is paid off,but the banks will only lend me £96,000 as i only have an income of £24,000 is there any way i can get a morgage for the full amount ? The repayment will only be an extra £160 a month so easily affordable
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Negative Equity
If you have negative equity in your property can the mortgage company repossess the property in some way? My mortgage is with Northern Rock and I am paying the SVR, cannot remortgage as it is now in negative equity plus I am self employed so well and truly stuffed! I just worry that there is some way they can try and get…
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help needed to understand this interest!
Hi guys. completely confused can anyone make head or tail of this please... A reply from my bank manager at Natwest business banking says: The interest that was debited to the current account in January represented 1 month's interest. The loan has already been debited with interest of £700.82 in December. This interest…
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Bristol and west decrease SVR
09/01/2009 - SVR decrease Following the Bank of England Base Rate reduction, we are pleased to announce that with effect from Tuesday 13th January 2009, Bristol & West Mortgages Standard Varible Rate will decrease from 4.49% to 3.99%. For existing customers this change is effective from Sunday 1st February 2009.
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Mortgage advice
I have remortgaged the following £40,000 at 5.88% for 5 yrs (last September) I also added on £25,000 at 5.88% for 5 yrs to pay for a loft conversion in September. I also required another £6000 in December at 5.74% for 5 years to pay for added costs and furnishings. Is it worthwhile in todays climate to maybe remortgage…
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mortgGES with trust deed ?
can any1 help me out at adivse on which mortgage compaines to deal with for a re-mortgage for a trust deed , i need the equity from the property , any1 in the same situation with advice , many thanks
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Would you pay the exit fess or wait?
Situation is current 2 year fix ends 1st August 09. Building Society is Stroud & Swiondon who have a terrible SVR at 6.79. LTV is currently 85%. I am worried that by the time the fix ends I will be priced out of a remortgage and stuck on the very high SVR. When rates startto go up again this will be very costly indeed. The…