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Should I clear 0% credit card balance before remortgaging?
Our 5 fixed rate mortgage expires in March next year so we'll be looking for new mortgage deals over the next couple of months. I have a balance of 21k across two 0% interest credit cards against total savings of 70k so I could clear the cards immediately if I wish. Is it worth doing so? Would having this credit card…
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Getting a mortgage when freelance...
My partner and I are considering moving house. I earn £62,425 a year in a permanent, full time job but, since May this year, she's been freelance. Her average monthly income is ~5k. ~1k of this comes from a regular contract and the rest from media appearances (e.g. podcasts, broadcasts), public speaking and columns for…
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Redundancy just before exchange of new build
I have just been made redundant during the processes of buying a new build. The completion date of the house has been extended from Oct 24 to Jan 25 and my mortgagee offer expires in Dec 24. I am hesitant to exchange as I do not want to be in a position of owning money if I was to loose the mortgage offer. I am hoping to…
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Does a first time mortgage borrower qualify as a first time buyer?
Our son is looking to secure a mortgage for the first time though he has technically owned a property previously - during his uni years we extended out own mortgage and provided funds for a small flat in his name. That flat has since been sold and our loan returned. So would he qualify for a FTB mortgage? I wonder if…
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Deposit amount on contract
Hi, first time buyer here so feeling a little nervous about a potential error on my contract. I am buying a house with a 5% deposit, however the vendors solicitor has sent a contract with a 10% deposit stated. My solicitor has stated that this is fine and they will strike this from the contract and hand write the correct…
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Mortgage timeline with Skipton
Hi All, I have been reading past posts, and Skipton Building Society is normally quick for what I have read. My FTB application timeline with Skipton: * Application received by Skipton 28/07/2024 * Date Minimum submission received 28/07/2024 * Valuation was done on 09/08/24 but shows as Pending Decision - Information…
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How long in reality to draw down mortgage funds?
Hi all, I'm just wondering what people's recent experience is in how quickly solicitors are able to get mortgage funds once requested? Looking online it seems the general rule is 3-7 days. We've been told that we're hopefully working towards completion on 27th Sept still, that's the date our vendors are also hoping for. We…
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Looking to move house but concerned re gambling transactions. Frequency and amounts explained.
Hi all I’ve a decision in principle to borrow 480k, plus a 160k deposit for a 640k house. We’ve a combined gross income of £117,000. We have no loans or credit cards (I finished paying them off last month). We just both have a lease car which totals £800 per month combined. I’m concerned re gambling transactions and their…
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Is there a way at all? Mortgage on benefits
First time buyers In receipt of benefits - joint claim but boyfriend only on there cos he's my carer (I have epilepsy). All payments are made into MY account. UC /CB /CA and PIP BF is on electoral roll and opened a bank account 2 weeks ago. House value is 80k Deposit 20k Good credit scores Have had a DIP fall through. Was…
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MSE news: Base rate held – but with mortgage rates falling, should you fix now or wait?
Fixed-rate mortgage deals have gotten cheaper in recent weeks – and brokers say rates could still come down a bit more, despite the Bank of England’s decision to hold the base rate at 5%. So what, if anything, should you do about it? Read the full story on: 'Base rate held – but with mortgage rates falling, should you fix…
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Using Argos card whilst applying for mortgage
Hi guys, I am currently in the process of buying my first home, and I'm on the edge of completion. I currently have an Argos store card with no current balance on it. Would it have any negative affect on me completing on my purchase if I added a purchase onto the card through the pay no interest for however many months?…
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ill health retirement
Hi, I may have to give up my job due to ill health. I have a mortgage, do I have to inform my lender if I do have to give up my job, even if I will still be able to make the payments for the foreseeable future? Would they change any of the terms or conditions? Or would they be ok as long as I’m still making the payments on…
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2 or 5 year fixed?
Our mortgage is up for renewal in a few weeks and we have 12 years left on our mortage. Our current lender is offering us a pretty decent 5 year fixed deal and a slightly worse 2 year fixed but they're the best 2 deals around I can find. I know no-one really knows what's going to happen in the world in the coming years but…
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Kent Relince
Hi all, has anyone had a mortgage go through with Kent relince recently ? And how long dose it normally take. We submitted our full application on Tuesday and was advised by our MB that it’s a 3 days turn around for the underwriting but nothing about the house valuation yet ? Is this normal. Just a nervous first time…
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Bank rejected last 75% shared ownership purchase as next to industrial property
Does anyone have any experience or advise for me, please? I have a mortgage with a provider for 75% of a shared ownership flat, I have already remortgaged with them once before. The flat has always been next to this industrial processing building which smells mostly in the summer and intermittently different times of…
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Remortgaging advice on fixed term
Hi all, looking for your thoughts please. Partner and I have been in our property for over a year now. In very different positions, as he put down 350,000 as a deposit, I put down nothing and I pay the £148,000 mortgage property est value £500,000. mortgage at a fixed rate of 5.23% for 36 months (with 21 months remaining)…
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Mortgage Inquiry
Hello, I am FTB and recently got a mortgage offer from a lender for 2 years fixed rate , but later I got information about the 5 year fixed rate being cheaper. I made inquiry about this from my mortgage broker , who told me there was a product fee attached to the 5 years fixed term and that changing the offer doesn’t take…
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Help Needed: Mortgage Refusal Due to Possible Financial Oversight
Hi All, I've recently faced refusals for mortgage applications from two lenders, and both brokers I've worked with are unsure of the reasons. However, I believe I may have identified the issue, and it's likely due to an huge oversight on my part. Here's our situation: * My wife and I own a buy-to-let property since 2022. *…
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Mortgage In Principle application - Online only?
Hello, Are there any lenders that will do an official Mortgage In Principle via an online only application? I've had Mortgage In Principles done in the past, and it is so painful sitting on the phone for them, then all the chaser calls afterwards asking how's my house hunt coming along etc, then I feel bad that I haven't…
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Help to Buy - equity repayment. HELP needed !!
We purchased our house in 2012, yes we have left it a long time to sort out the equity (but now in a financially better place to repay via adding the extra chunk to the mortgage). Started this process in May. The valuation. Received the valuation 3rd of June, and sent it off to them. Paid the £200 fee and instructed a…
