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FTB advice
davilown
Posts: 2,303 Forumite
I'm on 30k per year but the most i can get is 98k. is it worth a loan to value mortgage to pay the extra bits of debt or do I wait two years when I'm debt free and the OH has qualified and earning 20k?
Cheers
:beer: monster
Cheers
:beer: monster
30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
0
Comments
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Would need more details before any one could comment,i.e:
What are your debts and apr
How much is the property worth realistically
What is your mortgage and aprDon't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
What is a loan to value mortgage, never heard of one myself?davilown wrote: is it worth a loan to value mortgage0 -
Totally agree Ian.
Loan to value is one of the many restrictions on getting mortgages. Lenders want a load to value ratio of, for example, 90% or less. You still have to have earnings to justify the mortgage and show you can afford the repayments.
If your talking about self certification mortgages you still need the income, you just don't need to prove it from payslips etc. To make false declarations to secure the mortgage is fraud and could end up with you spending the next 5 years in a 6 x 4 cell rather than the des res of your dreams.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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