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Loan for £50000
copland_71
Posts: 5 Forumite
in Loans
Hi I'm looking to buy a property but struggling to get a mortgage because the building is of tee beam construction. the building cost is £99000 fixed price. I have around £49000 so wondered if I could get a loan for the rest? I'm only 19 so if I could would I need a guarantor? I.E parent that owns home outright.
Any help would be greatly appreciated.
Any help would be greatly appreciated.
0
Comments
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Have you seen an IFA?Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
Another 3% shaved off 10/12/08
ANOTHER 4 % June 09:beer:0 -
Better to find a specialist mortgage company or broker who can find you a mortgage on the property.
You would never be able to borrow £50k unsecured personally, particularly as a 19 year old and probably unless you were earning £100k plus in salary.
R.Smile
, it makes people wonder what you have been up to.0 -
My income is currently £19500 but goes up to £39300 in a years time. Yes I get paid with a monthly slip. Thanks0
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A £50k loan on a salary of £19k a year is a mathematical impossibility unless you want to pay 30%+ interest. My advice is wait and build up your credit rating.
Why do you want to be saddled with a mortgage at 19, out of interest? I would delay it if you are even slightly unsure, it is a big commitment and not one to take lightly."The only man who makes money from a gold rush is the one selling the shovels..."0 -
Evidentally, I'm in the wrong job. I should be doing whatever you do!copland_71 wrote: »My income is currently £19500 but goes up to £39300 in a years time. Yes I get paid with a monthly slip. Thanks0
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