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FSA consultation - mis-selling compensation being paid from with-profits funds
I don't quite know where to post this, hear seems to be the best place - The Financial Services Authority (FSA) is seeking to stop companies paying mis-selling compensation out of customers with-profits funds inherited estates (the money used for smoothing returns etc). This is a laughably slow reaction to the problem,…
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What to do? Unnecessary Panic?
Hi there, I bought my flat as a FTB in jan 07, the 2 yr fixed rate through halfix is up jan 09. I don't have a clue what i will need to do prior to this date. The broker i used originally was useless and didn't tell me what fees were applicable to anything and didn't warn of the HLC and has now been struck off, i don't…
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First time buyer, wait or buy now?
Hello, hope you guys can help. I'm looking for my first mortgage, My entry date is 12 September so I have a long time to sort out a mortgage. I have went through my mortgage advisor and the best deal he can give me at the moment is RBOS - 6.24% with £999 fee. The best deal I can find is nationwide 6.35% with a £299 fee.…
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Some advice needed please
My realtionship of nearly 6 years has recently ended, adn I need some advice on how to proceed with the flat we bought together : We own a 2 bed maisonette, mortgaged joint tenancy ( I think) Our mortgage is with HSBC, a "Homestart" deal, interest only for the first 3 years, at a fixed rate of 5.55% for the first 2 years.…
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Mortgages on debt management
Hi I am thinking about getting a mortgage and wanted to consolodate current debt I have before doing so. I have no problems in making my monthly payments and am up to date on payments except for an issue I had with my CC company about non-receipt of statements - this went on for 3 months and finally when a statement was…
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Is 0.5% for broker fee a fair price?
Hi, I have a friend's dad doing my mortgage. I'm due to complete soon and he said he'd only charge me 0.5%, which will be £750. The loan is for 150k. I'm just not sure if this is a fair price or not. On my mortgage offer it says I have to pay the broker £500. Obviously I just want to know if £750 is the general fee for…
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Mortgage Fraud
This storys about the US but I wonder if its possible that there may be arrests in the UK ? http://newsvote.bbc.co.uk/1/hi/business/7470381.stm
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What type of mortgage do we need
My father passed away recently leaving his house to my brother and myself. I want to sell it as I want closure but my brother feels that the house will sell for a lot less than lastyear. He is looking to get a mortgage for my share of the house value, and then he was going to rent it out for a couple of years. Can i ask…
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Re-Mtge Assistance
Re-Mtge due end July. Small Mtge (56k) Valutn 250K. Coming off 4.79 (5YrF). Variable Lender Rate 7.19% Offered betwn 6.39% (2yrF) Arr Fee 499 or 7.05% (5YrF) Prior to reviewing prefered Fixed, but also offered Tracker 5.99% Becoming more confused with products available. Given present climate - rates going up, financial…
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Gifted Mortgages
Hello, newbie here. We have just got a mortgage for the house we already live in, the house has been bought off my partners mother.... The house was mortgage free until 7 years ago when partners mum took out a loan on the house, there is 60k of that loan left, which is what we have said we will pay off, so in reality we…
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mortgage advice required please
Hi, i bought my house just under 2yrs ago. I am moving to birmingham for a new challenge As house prices are so bad i don't want to sell it but leave my lodgers to pay the motgage while i buy and live elsewhere. London and country were only able to get me 7.29% (i do have a 10% dep) can anyone think of a particular lender…
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buying from family member
evening I have been talking to my dad regarding to buy a flat off he owns which he bought for £40k but now worth around £85k. He isnt wanting full price on it but should be willing to meet half way at like 60k which means gets profit aswell. Now my question is, would a mortgage company allow this sort of deal or would they…
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Help & advice regarding repossession
Can anybody offer me some advice on the following problem. I have a mortgage of £62K on my house (value £260K) and I also have a secured loan.I have small arrears on the mortgage of £200 and the building society is OK with this and it will be repaid within 2 months. My problem is with a secured loan. I took out a secured…
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Advice on charges when paying off my mortgage
Hi all, i have just acceptec an offer on my house, we have been in it for 3 years. It is our first house but we are selling up and renting whilst saving as much as possible. My problem is we were tied in for 5 years with northern rock which is due to end june 2010. How ever when we asked for our settlement fee they say we…
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Standard Life change of terms and conditions
Hi folks, Just before things went belly up in the mortgate market, we arranged a fixed rate mortgage of 4.75% fixed until 2011. We've recently recieved a letter from SL saying what amoounts to "we reserve the right to remove a fixed rate deal if it is uneconomical" Obviously we are quite happy with our term and rate!! Can…
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Help
Hi can anyone help!!! Going through a particularly nasty divorce and my ex missed 4 mortgage payments on a house we rent out he also left the house me and the kids are in in arrears, i have since got the payments up to date and are all being paid on time. My problem is that i need a mortgage and the 4 missed payments goes…
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Can someone advise me please?
Hello We bought our house in Nov 06 for £119k with a mortgage of £103k (deposit was a loan from my father). Our fixed rate deal (5.8%) ends in Nov 09 and by then, I will have 1 default against my name (due to come off in Jan 2010), the other 7 we had from debt problems in the past (our DMP finished just before we bought…
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Mortgage advice needed
My fixed 2 year mortgage is due to run out at the end of July. As we pay interest only, the 4.79% hike to 6.4% offered by our mortgage company (Direct line) is a big increase. ( £20 difference between fixed and variable)!!! But heres the problem. We will be selling our house in about 3 months and moving home where the…
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Opinions on remortgaging please
I am looking to remortgage ( my current discount finishes 30.09.08). My situation is this, I was divorced 4 years ago . I went thru IVA ( since satisfied 3 years ago) during and before divorce as income was being cut from 2 incomes to 1. My credit rating is genarally very good. I currently have an interest only mortgage of…
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Capital repayment vs Overpayment
I made a £1000 payment off my mortgage this week, wanting to reduce the capital a bit; then try do the same again next month if I can. I called the mortgage company and was told that they now charge a £10 admin fee on any CAPITAL REPAYMENT. Instead, they took the payment as an "OVERPAYMENT" against the account. Though they…