Mortgage Advice?
Mortgage Advice?
04-05-2018, 04:46 AM
they will be look at how much the mortgage will costs, council tax, leccy, gas, water, sky, tv licenses, car insurance, general cost of living such as fuel/food/clothes and have probably worked out that you wont have enough left over to cover any short comings, thus making you a risk of defaulting
my partner current has a flat that she bought for £64k, with a £20k deposit so mortgaged £44k, with a rate i think of 4.19%, but that still costs her £218 per month, add in all the other bills jsut for a flat and from her £16.5k a year salary she has £80 to herself, (She only got the mortgage because the broker fobbed the bank off and said she had more disposable cash than that)
I highly suspect that is what has happened
[SIGPIC][/SIGPIC]
Lexus IS220d - Parrot Bluetooth kit, 1 idiot driver
if you have a decent deposit, and excellent credit score this is not what is getting you declined, they will be declining you because of your pay, and free cash
they will be look at how much the mortgage will costs, council tax, leccy, gas, water, sky, tv licenses, car insurance, general cost of living such as fuel/food/clothes and have probably worked out that you wont have enough left over to cover any short comings, thus making you a risk of defaulting
my partner current has a flat that she bought for £64k, with a £20k deposit so mortgaged £44k, with a rate i think of 4.19%, but that still costs her £218 per month, add in all the other bills jsut for a flat and from her £16.5k a year salary she has £80 to herself, (She only got the mortgage because the broker fobbed the bank off and said she had more disposable cash than that)
I highly suspect that is what has happened
[SIGPIC][/SIGPIC]
Lexus IS220d - Parrot Bluetooth kit, 1 idiot driver
04-05-2018, 05:47 AM
2tongues I will do a "blog" thread once we have got further down the route.
Sounds good, definitely interested to know more about the process
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
2tongues I will do a "blog" thread once we have got further down the route.
Sounds good, definitely interested to know more about the process
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
04-05-2018, 07:50 AM
parthiban Bit late on this one, but as everyone has said the whole thing has tightened up severely. Many reasons in play, but 10% deposits are really hard to get, because banks are expecting property prices to fall at some point and they don't want to end up with tons of loans worth more than the properties they are secured to.
Interesting how cheap those properties are though, been looking at the US at present for investment property as it's so cheap, didn't realise it could be that low here too. What sort of rent would a property like that get?
the rent on these types of house between 20k - 35k are like 350-400 per month, so an investment is well worth it in this area.
Probally why alot of let homes are coming up, alot of polish are renting as well.
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
parthiban Bit late on this one, but as everyone has said the whole thing has tightened up severely. Many reasons in play, but 10% deposits are really hard to get, because banks are expecting property prices to fall at some point and they don't want to end up with tons of loans worth more than the properties they are secured to.
Interesting how cheap those properties are though, been looking at the US at present for investment property as it's so cheap, didn't realise it could be that low here too. What sort of rent would a property like that get?
the rent on these types of house between 20k - 35k are like 350-400 per month, so an investment is well worth it in this area.
Probally why alot of let homes are coming up, alot of polish are renting as well.
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
04-05-2018, 07:55 AM
Saraj the rent on these types of house between 20k - 35k are like 350-400 per month, so an investment is well worth it in this area.
Probally why alot of let homes are coming up, alot of polish are renting as well.
That is a very decent return, going to have to look into this in more detail when I have time
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
Saraj the rent on these types of house between 20k - 35k are like 350-400 per month, so an investment is well worth it in this area.
Probally why alot of let homes are coming up, alot of polish are renting as well.
That is a very decent return, going to have to look into this in more detail when I have time
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
04-05-2018, 09:55 AM
parthiban That is a very decent return, going to have to look into this in more detail when I have time
must say some of these houses do need work on them, and some very extensive work.
but still you can pick up ready to move in houses for 50k-60k
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
parthiban That is a very decent return, going to have to look into this in more detail when I have time
must say some of these houses do need work on them, and some very extensive work.
but still you can pick up ready to move in houses for 50k-60k
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
04-05-2018, 11:33 AM
Saraj must say some of these houses do need work on them, and some very extensive work.
but still you can pick up ready to move in houses for 50k-60k
Ahh ok, still not a bad return but perhaps not as attractive as the stuff in the US - will definitely have to start looking at the UK as well though now
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
Saraj must say some of these houses do need work on them, and some very extensive work.
but still you can pick up ready to move in houses for 50k-60k
Ahh ok, still not a bad return but perhaps not as attractive as the stuff in the US - will definitely have to start looking at the UK as well though now
2002 '02' IS200 SE Auto - DVD Satnav with Voice Activation - [COLOR="Blue"]Strathcaron Blue - Parking Sensors - 5000K HIDs with Anti-Glare Bulbs - PIAA 6500K Main Beams - LED Sidelights - Mirror/Sunroof Closure - TTE Styling Kit - 18" Styling Kit Alloys with nitrogen filled Goodyear Eagle F1 Asymmetric Tyres - Bluetouch Multimedia Kit - Gromaudio AUX in - Black painted calipers with silver Lexus decals - 12 LED Dome Light - 96 LED Boot Light - Stainless Steel Sport Sill Plates - PIAA Silicone Wipers[/COLOR]
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