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Mortgage confussion
Hi all, New to this and hoping for your advice and experince I am 28 year old male currently living alone having bought a flat intially in 2005. I currently have a fixed mortgage on the flat that ends in May. The property was valued at 145K in April 2007 and I have a balance of approx 116000. Having read many of the posts…
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Mortgage To Wait Or Not To Wait For Better Rate
Hi Folks Hope you guys can help me with this, I need a mortgage for £38000, quite a small mortgage, I would like to pay off over 10 years, I can get a fixed rate of 4.6% with nationwide, wondering should I wait for this to come down more, I hear the BOE base rate may be coming down again. What you guys think or do ya think…
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Remortgaging and contracts
My fixed rate mortgage deal currently at 4.8% with Abbey ends in January 2009. I decided to stay with Abbey and in early October I signed up for another 3 year fixed rate deal to follow on from January which is set at a higher rate of 6.1%. Am I able to get out of this deal before January without paying the penalities on…
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help
iam on a fixed rate at the moment which ends 31st jan. they have offered me a new fixed rate for 3yrs at 6.64% which will cost me £451, or they said i could go on the standard variable rate which at the moment is 5.19% which would cost me £389 a month. obviously i want to go with the cheaper one, but am just worried incase…
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Confussing Mortgage Question
Hello all, Bit stuck with a dilemma I have and need guidance from fellow MSE's. I have a property that I bought back in June 2007, been living there quite happily, then out of the blue I was offered a promotion out of the area and after some deliberation I decided to take it - So off I toddled in August this year. No I…
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what happens if I decide not to pay my mortgage?
Not planning to do this of course, but what happens if I decide to suddenly stop paying my mortgage? I'm debating this with a friend at present. I thought you can be taken to court
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standard variable rate
what is the fuss with trying to get a mortgage deal, worrying about the LTV ratio dropping and paying the fees! The standard variable rate that automatically follows your fixed deal may very well be lower than the rate you are on now and probably ok while you wait to see what happens etc. example: I looked for a new deal…
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Mortgage Calculation
Ok so I am doing my university work and I have to create a bank program, the RBS (renamed Royal Bank of Stafford after the collapse of HBOS etc.etc. and taken over my multizillionaire Lokolo)..... it gives out mortgages *rambles a bit more*. Now I have no idea how to calculate mortgages, obviously I've used these sites:…
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Nationwide mortgage offer
We were purchasing a property at the beginning of august... had the mortgage offer etc and we pulled out the day before we were due to exchange because of a survey that came back that we werent happy with. Anyhoo... we have now found another property and just had an offer accepted. I understand that our mortgage offer with…
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Getting a Remortgage but have "Adverse" Credit History
Hello i'd like some advice from anyone who might be in the same position as me. I've got what i think is known as "Heavy Adverse Credit History". I took out a number of loans and loaded up my credit cards over a number of years until about 2004 (debt probably now in the region of 55k). Since then i've had an arrangement…
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int only v repayment ?
£110000 mortgage,642 a month on interest only,now down to 470 as its a tracker,on 20 years,if i keep paying 642 how much time can i save for every year passed.also would i be more beneficial changing interest only back to repayment, for example if repayment was 700 per month,but i kept it interest only at 700 per…
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FTB With bad credit from few years back? Help!
Hi all, I am new to the mortgage game and have not yet spoken to a FA etc. My worry is even though I have had perfect payment history for over 3 years I was pretty bad when I was a student. I have a 2 defaulted CC, one for £395 in July 2005 and one for £606 in Jan 2004. For the past 3 years I have had much higher finance…
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Little help with my mortgage please :)
I have a mortgage with the Halifax its supposed to be fixed until August 09 but as we had a large tax bill we wanted to finalise it and pay off we borrowed extra money on our mortgage. We received a letter last month saying the additional borrowing was not fixed and our payments would increase which they did from the 1st…
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Abbey SVR....cut or not?!?
When the BOE cut rates by 1.5% last week the media reported that a couple of lenders (Abbey being one) had cut their variable rates by the 1.5% whilst the others followed suit the next day after pressure from the government. Does this mean that Abbey cut their SVR by 1.5% or just trackers? I have recently moved onto the…
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Remortgage or Buy to let
Dear Money Savers, I became a first time buyer in 2007. My discounted mortgage is coming to end of its term. Because I took another job recently I had to move out of the house and rent it. Currently I am renting in another place. My queries are 1. Do I have to take a buy to let mortgage as my house is being rented? 2. Or…
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Halifax S New Mortgage Rates?
the halifax where supposed to be bringing out new rates today for new mortgages. just looked on there website and nothing. anybody any heard anything??? any ideas on new rates??
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Question for motrgage brokers
Do these figures stack up. Mortgage with HSBC-Lifetime tracker. House currently worth 220-Mortgage left 70.This means LTV of 31%. If I wanted to raise some capital ,Am I right in thinking I could approach HSBC and say I wanted to borrow some more and subject to there valuation LTV lifted to 75% which would mean I could…
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Any brokers around... looking for self cert deal
Hi! If there are any brokers remaining, what deals are currently available on the following basis: Purchase price: £280,000 Mortgage Req: £140,000 Term 20 years. Self employed (self and wife) joint income £50,000 (35k + 15k). Self cert required. Any further info required pls pm me. Thanks!!
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Are trackers really as good as people suggest ?
I'm really really struggling to work out what to do we've been on a SVR for about 5 years (!) - we're now working what to do our loan to value ratio is less than 50% - so we normally get the better deals my current choices are stick on current SVR move to HSBC Lifetime tracker +0.99% (but thats 799 fee + 80 leaving…
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ARE ANY LENDERS LIKELY TO LOWER RATES FOR FTBs IN NEAR FUTURE?
Just wondered if this was likely as they dont want to seem to pass on the BOE cut from a few weeks ago??