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Fix for 2 years or 5 years
Hello, Looking to buy a home for 325,000 with 230K deposit; first-time buyer. Mortgage advisor says a 2 year fixed is higher interest than a 5-year - which is usually the other way around, but suggests lenders are confident that rates will be lower than the rate offered. however, this is just a 'prediction'. I am not sure…
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Would one late credit card payment affect chances of getting a mortgage?
My partner and I are looking to buy our first home. We were checking our credit reports yesterday and found that my partner had one credit blip 2 years ago where they made a late credit card payment (~£30). This is the only mark on their credit report, and their credit score is currently excellent. I don't have any blips…
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Mortgage break - is it worth it?
Hi - and thanks for reading. I have a mortgage split in 2 parts. 1. £260k Fixed @ 2.1% until Sept 26 (repayment is approx £1.2k per month) 2. £77k Fixed @ 2.7% until July 24 (repayment is approx £350 per month) (New 2yr fix rate secured @ 4.9% already, will choose lower rate if available at time of renewal) Recently I've…
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Changing mortgages terms
Last year and this year I have made mortgage overpayments of just under 10%. My next mortgage renewal is July 2025. I got a letter from Halifax saying they are reducing my monthly payments by about £70. I phoned to say I don't want that and they say I have to have a mortgage review to reduce my terms. My term is 11 years…
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Electric T junction and need a mortgage
I really hope someone can help, I have rented my home for 15 years from an housing association after I sold them mine as I was in the middle of a new estate they wanted to build, I then rented off them but they knew I wanted to buy this house.I am now in a position I can get the right to acquire from them. The house value…
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Chances of Accord Mortgage with adverse credit?
Hi, I’m just wondering if people can share their experiences with Accord if they’ve had adverse credit? Thanks!
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Staircasing Nightmare
Good afternoon, We're currently in the process of staircasing from 35% to 70% ownership and I'm unfortunately at my wit's end. Out fixed term rate ends in August, so we approached a mortgage broker (Tembo) on 14th February. By early March they had obtained us a decision in principal with Skipton. Since then we have: - Had…
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Mortgage Novice
Hi guys, I am a completely novice when it comes to mortgages I have a couple of questions if you can assist 1) when taking out a mortgage what figure appears as debt on your credit file total to repaid of the lifespan of mortgage including when your mortgage switches to variable rate? Or the amount of lending plus the…
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Early repayment charge
Hi everyone, I have a fixed mortgage deal that is due to come to an end in July 2027 and I started this deal in 2022. All was going fine until I was shocked to see my direct debit had increased by £8. I phoned my provider for an explanation and was told that they do an annual recalculation on all mortgages (fixed or not)…
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Fix or Tracker
We are looking at our mortgage options and are stuck between a fix and a tracker: £605k mortgage (in the south :neutral: ) £265k equity Fix: 4.57% 2 years @ £2888 and £1k product fee Tracker: 5.40% 2 years @ £3208 and £1.5k product fee With the fix, it is obviously fixed for the period and if BoE base rate drops by a…
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Pepper mortgages
Has anyone any experience with taking out a mortgage with Pepper? We have had a hard search done on our credit files on the day of application and are waiting on an offer hopefully today. We have had a security call etc and are now just patiently(or not so!) waiting! My question is, are they likely to do another credit…
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Nationwide Declined - Financial Association
Declined by Nationwide due to partner still showing as a financial association on my credit file (he has poor credit history) Annoyingly, I disputed the association with all three credit agencies as we no longer have a financial connection and the old joint account was closed several years ago. All three agencies have…
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Help to Buy not answering phone
https://www.gov.uk/government/collections/manage-your-help-to-buy-equity-loan The Help to Buy phone line is not being answered and cuts out after 1 hr. I and others have been trying for hours, days. This is causing many people emotional and financial distress with valuations expiring etc. I’m going to email now, but it’s…
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Overdraft or credit card? What to pay off first before mortgage application.
Hello, We have a MIP in place for buying our next house, our house has just gone on market. We are using this time to try and pay off as much debt before we buy a new house with a bigger mortgage. Is it better for us to pay off our overdrafts first or concentrate on taken down the credit card debt? Partner only has an…
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Any advice on who to approach for a mortgage?
Hi, I was hoping someone might be able to offer some advice as I'm just getting myself stressed out :( I an a 48 year old guy, working full time and earning £37k per year with a deposit saved of £15k. I'm looking to buy my Housing Association flat which is valued at £160k but I'm entitled to a £10k reduction due to Right…
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Buy to let age limit
Has any one got a list of lenders that will lend on a buy to let, until 85 or no age limit at the end of term? Thank you
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Natwest Application - how likely
Wondering if anyone can give me some peace of mind as im losing sleep here! My husband and I are first time buyers who have put down an offer on a house that pop up out of the blue but we love. We've gone through a moneybox mortgage broker who matched us with Natwest. Our situation I am 2ish years into my Visa in the UK…
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Future Mortgage Rates
Given that current 2 and 5 years fixed rates are around 4-4.5% with 25% equity, where do you see these fixed rates going if the base rate drops to say 4.25% by the end of the year - Will they remain where they are, or could they drop to around 3-3.5% under the same LTV? I know we can't predict the market though, it is…
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Mortgage monthly payment increase - within term - why?
Good morning, Nationwide has increased my monthly payment in March from February by £5.39. I am within term - my current mortgage term finishes on 31st August. I have made maximum overpayment. When I asked N/wide, the person said ‘sometimes payments are adjusted in the final stages of a mortgage term’. I told them I have a…
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Remortgage existing home to buy a flat?
Hello All My house is now mortgage free. However, I'm thinking of buying a flat in a block nearby. They go for around 250k but I would only have around 190k in cash. Therefore, I was thinking of paying for the difference using a mortgage. Originally I was thinking of getting a mortgage directly on the flat itself but given…