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Overpayments: reducing term vs reducing installment
Hi, reading this page https://www.moneysavingexpert.com/mortgages/mortgages-vs-savings/ I was impressed by this stamenent When you make an overpayment, your lender may offer you two options: * Either to reduce next month's payment by the amount you've overpaid, or * To keep payments the same and reduce your mortgage term…
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Getting a mortgage on third try??
Hi all! I’m wondering what our chances are of getting a mortgage on our third try. Declined with HSBC and NatWest (within a week!) reason unknown but I would think it has to do with my husband being in his overdraft a lot over the last couple of months. His work naturally dips around this time of year so less commission…
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Redundancy - remortgage
Unfortunately being made redundant, mortgage deal expires this year. Just looking to remortgage the same amount not moving or borrowing more. Plan is of course to land another job, but could take a while for the right thing possibly. Obviously remortgage with another provider isn’t going to be an option, I’ve heard that…
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Fixed mortgage error
HI there, I wondered if someone could help or maybe heard of the same thing. My mortgage, like lots of people dramatically increased last year and I took up the offer of 6 months interest free to keep payments down (it was so dramatic, even interest only was higher than what I was paying). I took this time to talk to a…
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Is it a bad idea to apply for a new credit card three weeks before we have to remortgage?
Our current mortgage deal runs out at the end of this month (29th) and my current 0% deal on my credit card runs out in two days (7th). My credit score (as accurate as they are) is 999 on Experian so that shouldn't be a problem, and because I have some options available to do a balance transfer to another 0% deal credit…
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BTL Horror Story - Advice Needed
Hi, My dad is having a bit of a nightmare with his current BTL which has a mortgage term maturing in around 2 months. He is unable to remortgage due to his current financial condition. He gave away the property to a ‘family friend’ who has been acting as an Agent and further sub-letting to someone else (supposedly). For…
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Halifax mortgage 95% LTV
Hi all, Just posting this because i am currently applying for mortgage with halifax Breakdown 29/1/24- DIP given 02/2/24- application submitted 02/2/24- hard and soft credit check carried out 02/2/24 - valuation booked for Wednesday just a few questions If they have asked to do an in person valuation is that a bad, good or…
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Booking mortgage 6m in advance - product fee
Our 5 year Santander mortgage is coming to an end early August 2024 so we are able to book a new rate now with Santander. Very happy with their 3.89% offer considering what we were facing a few months ago, but I'm curious about the £999 product fee. Our plan was to pay the fee separately but I thought it wouldn't need to…
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Buying property - No mortgage for 2 years
A father is trying his best to help his son and daughter out by giving them both a hefty sum to put down as a deposit for a house each. The son wants to buy now but the daughter won't be ready for 2 years. If he was to give all off the money to his son, then the son repay half of it after 2 years (interest free) to his…
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Porting to property with annexe
Hello, looking to purchase a property with annexe ( would be considered separate dwelling) but porting mortgage (been with Barclays nearly 10 years), a brief chat with mortgage advisor on phone suggested they wouldn’t even visit property but do an AVM. So my question is how closely will they look at purchase ? Will they…
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Mortgage Overpayment vs. Shares
Hi! Hoping for some opinions. I work for a large FTSE 100 Company. Part of my Reward package is receiving shares equivalent to 25% of my salary on an annual basis (give or take). These are taxable and have a 3 year vesting period. The share price is relatively stable. My current shares balance is ~100k (net) We also have a…
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FTB which insurances/assurances needed
Hi, my son and his partner are buying their first home. He is 29 and she is 30. Their first child is expected in September. The mortgage broker has advised Critical Illness Cover and Life Assurance Cover. This will take a huge monthly chunk from their monthly budget. I've just read up on Critical Illness and it only pays…
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Can we get a mortgage? Type of likely rates advice if possible
We want to sell our current house and move. I am wondering if we would be able to get a mortgage and would like some advice if possible. We had some mortgage problems up until last Spring. This was because my partner's previous company cut him down on days as the business was struggling. Our mortgage company wouldn't…
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Remortgage - Trying to decide between 2 year fixed and 5 year fixed deal
Hi, I'm one of the millions coming off a very good mortgage rate this year and so need to make a decision, and torturing myself trying to decide between 2 year fixed, where I'm worse off in short term but potentially much better off long term, or 5 year. I know no one has a crystal ball - but just wondering what other…
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How does overpayment affect mortgage overpayments in future years?
Ok, so I am trying to work out how much I can overpay my mortgage by. I have 21 years left on my mortgage and using the calculator on this site I can see that overpaying by what I can afford will reduce my term by just under 9 years. But that is based on paying less than 10% of my balance based on the initial balance. But…
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Kent reliance mortgage offer
Had my mortgage offer from Kent reliance confirmed today after declined by NatWest 😭 2 weeks ago. The process was fast and simple. Has been very happy and grateful
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Transfer of Equity - Illegal to live in property?
Hi there, I'm currently a joint tenant on the family home with my dad. We're looking to transfer the property in my sole name (I pay the full mortgage) and we contacted our mortgage provider to help facilitate this process. The mortgage advisor told us that if we were to do a Transfer of Equity into my sole name then it…
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Any calculator showing split interest and capital per installment?
Hi, I need a calculator showing how much I'm paying in interest for every installment (or at least for every year), but I haven't found any. Is there anything like this? Thanks.
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House in Trust
I put part of my house in trust for siblings and now want to sell. will I need to pay IHT/CGT on their share of the proceeds? Or will IHT/CGT only be payable if I don’t survive 7 years? I am the legal owner of the property.
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Remortgaging to release equity
Hi, my current HSBC fixed term mortgage is coming to an end soon and I’m looking to release £10K to help with upcoming wedding. My LTV is around 55% at the moment. I also took out a £25,000 HSBC home owner loan last year to help with some big home renovations which I’m hoping to have happen this year (currently paying £178…