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Joint mortgage overpayments - when only one can overpay
Hi there I have a joint mortgage of £240k-ish My partner is selling a second property and expects around £100k back in equity. It seems to make sense for her to pay off her share of the joint mortgage at the end of the term (next year) and for me to pay my half over time. This would effectively mean, she has say 70% of the…
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New mortgage offer and changing car
Hey! So I have completed and signed a new mortgage offer with Halifax and it’s due to start on Nov 1st. unfortunately my pcp is up on its car but had a fab offer on a lease which actually saves me money. My question is, will this affect anything with my mortgage offer if I change cars/new credit searches? I have good…
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Joint mortgage but separated
Separated from my boyfriend a while back and moved out the house. He's still living there but I'm still paying half the mortgage until the house sells. What are my financial rights?
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Natwest - deed of valuation needed
Hi does anyone have any experience of a 'deed of variation' needed on a freehold flat - this has been flagged up right at the last minute by the Natwest .... this has been going back & forth for a few wks now as they as so slow - we do have a mortgage broker who is very good, the mortgage offer now runs tomorrow !! we have…
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Leeds Building Society: Confusion over document requirement
Leeds Building Society has requested "Written confirmation from HMRC regarding the applicant's employment and income history for the past three years up to the present." However, we have already submitted employment history documentation obtained by contacting HMRC helpline, and regrettably, it has not been accepted.…
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Overpayments: Reduce balance, term, or monthly payments?
I am hoping someone can help me understand what is the best way to overpay your mortgage - to shorten the term, reduce the monthly payments, or simply reduce the balance? To give some context, we have £155,000 borrowed from Skipton on a tracker, currently at 6.2%, up for renewal in June 2024. The mortgage permits unlimited…
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Planning to pay off mortgage in 4 years
In February this year we moved to First Direct after our previous fix was up. We are on a 5 year fix, £199,000 at 3.08% with an overall term of 12 years. We want to try and make sure that when our fix is up in 2028 that we have the money to pay our mortgage off. What I'm struggling to find is what sort of figure we will…
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Is it worth switching current account for better mortgage deals
Is it worth switching current account to Lloyds and joining club Lloyds to get a better first time buyer mortgage with them? You can only get it if you go direct to them (I.e. not through a broker). The rate they’re offering is 5.18% for 5 years which is lower than anything a broker found me (lowest was 5.29%).
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Keeping track of HSBC payments
Anyone with HSBC mortgage can advise me on how you keep track of your current balance and overpayments, I know Halifax have app etc, TIA.
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Solicitor's fees - remortgage
We've got a decision in principle from Nationwide for a remortgage under their "cashback" offer which means we can choose either £500 cashback or a "free" solicitor. I may be out of date but I'd assumed solicitors fees would be less than £500 for a straightforward remortgage? Emailed a local firm for a quote but not heard…
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Mortgage Broker chasing his fees.
Hi all, I went to see a mortgage broker to remortgage a tenanted property. I told him I want 100k from the remortgage with the property worth £155000 and rent at £800. He said it should be OK to get this amount. At our second meeting, he said I can only get 86k with the £800 rental income. So I said OK, and said 86k is the…
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Short gap between completion and remortgage
We are currently purchasing a property which is due to complete the last week of September and we are porting our existing Barclays mortgage. The fix on this ends 31st October so we need to remortgage quickly as soon as we complete on the purchase. We had hoped to tie it all in to one transaction but the chain was…
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Does reducing the term breach overpayment rules?
I am looking at calling in my mortgage on a reduced term, this difference in payments would greatly exceed my overpayment allowance, would this mean that I would be liable for the early-repayment charge as if I exceeded overpayment allowance?
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Can I get a mortgage while separating?
Hello, So my wife and I have agreed to separate, it’s all really amicable, and she’ll keep the house, there’s no mortgage on it. Plus, there’s no children involved. My question is will I be able to get a mortgage while we’re separating, I’ve got a large cash deposit and I’m in full time employment. If I wasn’t in a…
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174k at fixed 4.28% 35 Year Term, worth overpaying...?
If I reduced it to 160k, I have calculated it will only save me circa £500 per year compared to a balance of £174k. Have I calculated this correctly?
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Securing Property Purchase against Pension
Many years ago now I was talking to the father of one of my university friends about how they afforded to buy a large farm in Oxfordshire and take early retirement. The man in question was around 55 and worked in finance in London. He made a comment that I didn't really understand at the time but am interested to…
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Multi-part mortgage fixed rate coming to an end
I currently have a mortgage with YBS which is in 3 "parts" due to porting across from 2 previous properties. I did this in the past as I moved quite suddenly whilst being in long fixes and it was more cost effective than shouldering early repayment charges. In my experience the rates from YBS have been roughly in line with…
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NatWest Mortgage Application
Hi all, Currently going through a NatWest mortgage application (86% LTV) and somewhat unexpectedly they have requested bank statements for ALL current accounts, as opposed to just my main bank account. The problem is my second current account is what I use for sports gambling, forex, crypto etc., and there are consistent…
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Help needed on new mortgage rate/house not selling and separation
Ok so will try and make this brief. I am at my wits end! So house went on the market beginning of last October for 325k, we had an offer at 315k, accepted, they pulled out when rates changed. Had a further offer at 310k, they pulled out saw something else, had a further offer at 310k, they pulled out. So by June we are…
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How is affordability calculated before selling?
Hi, I have seen a a few posts where people buy before they sell their main residence for a number of reasons. How does affordability work as you would have a mortgage on 2 properties for a few months, and of course maybe longer? Would it be treated as you would need to be able to afford both loans for the typical 25 years…