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mortage query
mortgageadvicehelp
Posts: 1 Newbie
hi.i need some advice.
this is my situation.
i earn 8 grand a year salary.
i own a house mortgage 40000 value 100000.
i have poor credit history.no arrears on mortgage but late payments.
i want to move to a house valued at 150000 and get 100000 mortgage.
i have second house that i rent out mortgage 32000 value 85000.
i dont want to sell this house as i earn 200 month from it.
i know i can self cert,even with poor credit.
i have over 700 a week paid into bank from second business.
i know i can afford to move but can i get a mortgage.
advice would be appreciated.
this is my situation.
i earn 8 grand a year salary.
i own a house mortgage 40000 value 100000.
i have poor credit history.no arrears on mortgage but late payments.
i want to move to a house valued at 150000 and get 100000 mortgage.
i have second house that i rent out mortgage 32000 value 85000.
i dont want to sell this house as i earn 200 month from it.
i know i can self cert,even with poor credit.
i have over 700 a week paid into bank from second business.
i know i can afford to move but can i get a mortgage.
advice would be appreciated.
0
Comments
-
Not sure what advice you're after exactly.
If you have a second business paying a stable income in, why would you need to self-cert?0 -
How long have you had the second business for?
Can you verify that income via accounts etc?
With an income of £32k, you would have no problems with the mortgage especially at 66% LTV
However your bad credit history will influence what rate you can get
Can you give more details?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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