buy to let mortgage

hopeless_case_2

i think they would be better off but they are 66 and 69.years old

feisty1

[quote=hopeless case;18516499]err no need for that is there we come on here for impartial advice dont bother posting if you have so much aggression.[/quote]

hopeless case you get opinion on here not advice & what i said was totally relevant to you, dont post if dont like what people say on a public forum

hopeless_case_2

feisty1 wrote: »

hopeless case you get opinion on here not advice & what i said was totally relevant to you, dont post if dont like what people say on a public forum

not people only you!

feisty1

strange i was thanked for the post then!

Conrad

With those defaults your'e looking at rates from 6.6% today, ranging up to 10% ish.

Of the sub prime lenders, Beacon have the lowest rates, but they are very cautious now, as are all other lenders regardless of deposit size.

In a nutshell, underwriters have to establish sustainability and whether a mortgage is suitable. As such they will need to establish why you will be able to keep to debt payments going forward when you weren't able to in the recent past.

For example, redundancy can be seen as a good reason to have got into difficulty, but the lender will need to see your'e employment record since then, and the future outlook is stable.

A poor reason for not keeping to credit agreements would be lack of affordability.
Also where parents are tenants lenders feel there is much greater risk as the landlord is less likely to evict them!

I agree, you need to see a very experienced competent broker.

hopeless_case_2

conrad Thanks for the excellent reply.

RecoveringAlcoholic

The DFW Board has asked me to bring you some of these.


:kisses:

:grouphug:




:EasterBun


:j

mrs_skint

Hey Hopeless Case - let us know how you got on with your mortgage. I'm in a similar position and will be looking for a remortgage next year and would love some constructive advice x

MissMoneypenny

How do you plan to pay your parents back their 45k if they need this for care home fees?
If you have been given your parents money as a way of trying to avoid care home fees then this may be seen as deprivation of capital by the government. Same goes for it they are hoping to claim benefits in the future.

Have your parents taken legal advice about their gift to you?