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After mortgage offer
I have my mortgage offer (HSBC) and am hoping to complete within the next few weeks. I am relocating and a parent is coming with me. They rent. Their income is from pensions (LGPS and state) and they have found a place to rent near my new property. The estate agent has asked them for a guarantor and that would be me. I…
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FTB: possible to switch mortgage deal with same lender?
Hello everyone, I'm a first-time buyer in the process of buying a property, and I have a quick question about mortgage rates. At the end of March I applied for the mortgage through a broker, who found me a 5-year fix at 4.74%. The mortgage offer came through last week, but I haven't yet concluded the missives (buying in…
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Self Build-do we need building warranty?
we we have recently completed a self build and have applied for a small mortgage (45k on property value 650k) to complete garage and landscaping. We have been told that we cannot get a mortgage without a building warranty. The property has passed building regulations and has all relevant certificates. Is this correct? Is…
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Change of Borrows on Mortgage (95% LTV)
Hi All, I am in a bit of weird scenario and was wondering if anyone had experience. I have a mortgage with Santander and I am in the process of removing someone from the mortgage and adding my partner. Straight forward change of borrower (transfer of equity). Did anyone have any issues during the underwriting stage when…
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Virgin Money - Five Year Fix With Two Year ERC
"Fix and Switch is a five-year fixed rate mortgage with
a difference – its ERC only lasts until the end of year two. After that,
there’s no ERC. This means your customers get five-year protection against
rates going up, but if they go down, they can switch to another deal after two
years." 1.5% ERC in years one and two.
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When my mortgage ends what are the banks likely responses?
Partner and I have a joint interest only mortgage with 170k remaining that ends in 7 years. We don't have a formal repayment vehicle and certainly don't earn enough currently to switch to repaying it. Without contacting the bank directly - Lloyds in this case - I wanted to hear from others about what the bank does when the…
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Re-mortgage How Long to Fix For
I a currently in the processing of re-mortgaging to buy my ex out of our shared property. I have been looking at rates and 5 year fixed seems to be the best but with the speculation that interest rates are likely to go down what would others do in the same situation? Fix for 3 at slightly higher or the 5 years?
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fix or tracker for two years
Considering the current climate, what would you guys do? Ive been offered 4.99 fix or 5.79 tracker (0.54 above base) tia
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Mortgage with Defaults
Hi, Probably a topic that has been discussed plenty. Just wondering if any mortgage advisors here could advise how big an impact 1 or any defaults could have on getting a mortgage whilst they remain on your credit file? I'm debating whether to pay off all my debts incurring big interest along the way or to allow them to…
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Is it possible to port offset mortgage to a house bought with cash few months before?
Current house has a very old offset mortgage with little balance remaining and is fully offset with money in linked current account. Is it possible to: - Remortgage it to another offset, ideally interest only and as low deposit as possible. - Put funds released from equity back into offset as savings, effectively paying no…
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Want to overpay but really confused
Will probably need to speak to a mortgage advisor as I'm quite clueless but wanted to get some initial ideas if I'm able to. Have a smallish mortgage on a flat (live in, not buy to let) and come to end of cheap fix in November. I'm hoping to make an overpayment soon to help with the inevitable increase in interest cost.…
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Mortgage overpayment issues
Me and my wife have been overpaying our mortgage by the allowed 10% for the last 3yrs. We did it in February and in April our Bank bank reduced our monthly repayments by £320 so basically by the end of this financial year we would not have overpaid anything and they have had cash in advance. I asked if weccould continue…
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Overpayments and bank working against us
Although I am currently in 4 year of a fixed rate, the bank started what they call a yearly review of their mortgages under the banner of checking that you will still pay off your mortgage at the end of the full term. I am however an advocate of overpaying, and have been doing so on this mortgage for the last 3 years which…
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Redemption statement and mortgage repayment different
We are currently remortgaging and have finally received our bill for completion today, but the amount to repay our previous lender is £3k more than our mortgage offer! This is £3k I wasn't expecting to pay and don't have readily available... There was quite a large gap in time between our redemption statement being sent…
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FTB- Property Query
FTB here, so currently going through purchasing a leasehold flat. So I wanted to ask if anyone else has been in this situation. So the property is originally marketed as a standard leasehold flat of which is from a converted house. The lease is between the freeholder (this is a separate entity) and Management Company (this…
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First Time Buyer
First Time Buyer. Have began to view a few properties which includes one tomorrow which all being well I will place an offer on as it's on the area I want and in my price range. Fingers crossed! A few months I went to a IFA and got a mortgage promise and my top range is around £130K on a 27k salary rising to £30k later in…
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Product Transfer advice - Bluestone
Hi - looking at possibly remortgaging with Bluestone due to adverse credit. If we were successful in our remortgage application and secured a fix - either 2 years or 5 years, how does it work with Bluestone when the fix comes to an end? Do they offer product transfers? I know you have to apply through one of their…
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Specialist Lenders?
I've recently had an offer accepted for a property, but it has two unfinished rooms and one unfinished bathroom, making it unsuitable for traditional mortgages. Do you have any experience with specialist lenders who might be able to assist in this situation? I've been advised to contact them directly, but I'm unsure where…
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Connells valuation and offer WITHOUT valuation??
Hello. Are Connells that bad and down valuing properties a lot? I am a seller, our property was valued at certain amount 3 months ago by a different company ( RICS valuation) done by me) and our buyer has got a mortgage offer. ( as per estate agent's words) Now he wants probably a better rate and re-applying ( not sure if…
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Equity Release Timescales
Hi. I wonder if anyone has any advice or experience that you may be able to offer me. My step mother passed away 10 mths ago. She and my father, who passed 5 years ago had equity release on their property. I cant remember how much they released exactly I think about £30k I think. The debt is now at £90k. The house has been…
