get a fixed mortgage now and bank it

unite79

rent_and_buy wrote: »

I dont think it will be 3 months i think it will be longer the way prices are going, ive already spoke to them today and asked if we have a mortgage with them and then decide to rent what happens, and they said we pay a fee of 199 pound and then we get consent.

Did they also add, SUBJECT TO MEETING OUR CRITERIA AT THE TIME, if they did not, they should have done - Will Bank of Ireland still be lending in 3-6 months time - The truth is NO ONE knowns for sure.

rent_and_buy

unite79 wrote: »

Did they also add, SUBJECT TO MEETING OUR CRITERIA AT THE TIME, if they did not, they should have done - Will Bank of Ireland still be lending in 3-6 months time - The truth is NO ONE knowns for sure.

Anyway its nothing for you to worry about ill post the picture of my house when we have done it up, the best thing of it all my mortgage will be 200 pound less a month than what it is now, and ill have a nice lump sum in the bank.

Im looking now, i hope there are some new deals i see alliance and leicester has got a 5 year fixed deal at 3.95%, ill just have to see what they do with the consent to let.

unite79

rent_and_buy wrote: »

Anyway its nothing for you to worry about ill post the picture of my house when we have done it up, the best thing of it all my mortgage will be 200 pound less a month than what it is now, and ill have a nice lump sum in the bank.

Im looking now, i hope there are some new deals i see alliance and leicester has got a 5 year fixed deal at 3.95%, ill just have to see what they do with the consent to let.

Why post on an open forum for advice, then when a number of people tell you what you are doing is Fraudulent - Become defensive - Then state that it has nothing to do with me - The reality is people like you who have LIED have helped create the problems we have in this country.

Fool.

rent_and_buy

unite79 wrote: »

Why post on an open forum for advice, then when a number of people tell you what you are doing is Fraudulent - Become defensive - Then state that it has nothing to do with me - The reality is people like you who have LIED have helped create the problems we have in this country.

Fool.

tell me what did i ask? i asked whether i could take another residential mortgage out and still no answers, you can all get on your high horses about what i may do but i think using the word fraud is a bit heavy, considering in the eye of the banks i am a customer who they will lend to, i havent lied and i have even told them we may rent it out in the future and like i explained they said it would not be a problem and all we would have to pay was 199 pound fee and we would stay on our current deal.

If we have borrowed a little more for improvemnets and not spent it, i can not even think the bank will mind , but like i said i will be straight with them, i feel a lot of people are jealous has they are not in a position to do what we can, if the banks want to take me to court for fraud because i havent spent the money quick enough then thats their problem not yours.

rent_and_buy

Heres the definition of fraud.

Fraud for profit involves industry professionals. There are generally multiple loan transactions with several financial institutions involved. These frauds include numerous gross misrepresentations including: income is overstated, assets are overstated, collateral is overstated, the length of employment is overstated or fictitious employment is reported, and employment is backstopped by conspirators. The borrower's debts are not fully disclosed, nor is the borrower's credit history, which is often altered. Often, the borrower assumes the identity of another person (straw buyer). The borrower states he intends to use the property for occupancy when he/she intends to use the property for rental income, or is purchasing the property for another party (nominee). Appraisals almost always list the property as owner-occupied. Down payments do not exist or are borrowed and disguised with a fraudulent gift letter. The property value is inflated (faulty appraisal) to increase the sales value to make up for no down payment and to generate cash proceeds in fraud for profit.

Now this would be the case if i got the mortgage and then let the property out, but has it happens, i will be living in the property for the next 6 months at least, so the mortgage i will be getting will be a residential mortgage, i am going to borrow some more for improvements on the house and a new car.

Now if a house comes up in 12 months time and i havent spent all the money on improvements i will use it has a deposit for a new residential mortgage.

so wheres the fraudulant dealing there?

whos the fool~?