let to buy mortgage?

rent_and_buy

luckyfool wrote: »

Because he still has to pay the money back it's not fraud?

By that rationale, if I am unemployed and spend my whole day watching tv in my y-fronts watching Tricia and Judge Judy, but apply for a mortgage to "Halifax" and tell them I'm a Barrister earning £100,000 a year, and manage to get them to lend me £350,000 on a mortgage . . . it's "not fraud because I still have to pay it back".

Hmmmm, good luck with that excuse.

Okay then let me put it like this i come to you and ask, can you get me a low rate residential mortgage, oh and by the way we may rent in the future so we might want consent to let on the same rate can you look into that for us, we also say we wnat to borrow another 55000 pound on top for improvements and has we have a lot of equity it should not be a problem.

we then give you all are income and prove it with wage slips and a bank comes back to you and says yes we will give you the mortgage fixed a 5 years at 3.99% with no fees and that if we decide to change it to buy to let we will have to pay a fee of 199 pound.

Then as if by magic 2 months on we find a house we like, use the 55000 pound as a deposit(oh and for you unite explain to the bank that the 55000 was for improvemnets, but we found this house and could not resist).

They say okay have the 199 pound fee and the person who chooses to rent their house out gets the lowest buy to let mortgage for 5 years.

Obviously this will not work if you have a few buy to let properties, but if its your first one if it means staying in your property for a couple of months then fair play to you.

Steel_eye

What is wrong with being straight with people, banks included. If this is how you deal with the banks how will you deal with your tenants, and the tax man? We don't need this sort of attitude in the rental business. You'd better go and peddle your nonsense elsewhere.

socrates

Steel_eye wrote: »

What is wrong with being straight with people, banks included. If this is how you deal with the banks how will you deal with your tenants, and the tax man? We don't need this sort of attitude in the rental business. You'd better go and peddle your nonsense elsewhere.

I think you will find (or our 'confused' friend will find) that yes the Post Office do give 'consent to let' - however its Bristol & West behind the scenes who have had their fingers badly burned in the BTL world and will look at each case with a fine tooth comb.

But forgive him for he is actually 'confused' - especially when posting under two different names

rent_and_buy

Steel_eye wrote: »

What is wrong with being straight with people, banks included. If this is how you deal with the banks how will you deal with your tenants, and the tax man? We don't need this sort of attitude in the rental business. You'd better go and peddle your nonsense elsewhere.

No wonder your so bitter you tried to do it a few years ago and your bank raised the rate, what a hipocrit, nice to see you back is that another id of that socrates idiot?

And you should know back in the day when you was with them and you was steele_eye back then, you got your fingers burnt, i think bristol and west are great now, they even say your rate doesnt change and all you have to do is pay a fee bi annually, which is every 2 years, happy days!!!!!!!!!

socrates

rent_and_buy wrote: »

No wonder your so bitter you tried to do it a few years ago and your bank raised the rate, what a hipocrit, nice to see you back is that another id of that socrates idiot?

And you should know back in the day when you was with them and you was steele_eye back then, you got your fingers burnt, i think bristol and west are great now, they even say your rate doesnt change and all you have to do is pay a fee bi annually, which is every 2 years, happy days!!!!!!!!!

Nothing to do with me I do not deal with B&W. Never have done.

I think you will find the review is annual not bi-annually as you put it.

I preferred you when you were 'confused' about '31' days ago

rent_and_buy

socrates wrote: »

Nothing to do with me I do not deal with B&W. Never have done.

I think you will find the review is annual not bi-annually as you put it.

I preferred you when you were 'confused' about '31' days ago

i dont think, i know your wrong its once every 2 years, can anyone else confirm this to socrates and his sock muppet brigade??

socrates the man with 5 id's!!!

you need to go out and get a job you spend to much time on here, obviously you must be on the dole, posting all days everysay, anyway got to go, some of us have got work in the morning.

socrates

rent_and_buy wrote: »

i dont think, i know your wrong its once every 2 years, can anyone else confirm this to socrates and his sock muppet brigade??

Call them tomorrow - and confirm for yourself.

Then you will not be 'confused' any more!

Steel_eye

I'd like to point out that I have nothing to do with Socrates, though I can see that he talks sense.

I have had a B&W mortgage, a domestic one 12 years ago when I was going through a divorce, it was a bit expensive, but as they were the only lender prepared to give me a mortgage at the time I will always be grateful to them.

Having purchased four BTL properties between ten and seven years ago, all of which are on life time tracker mortgages at BOE + 0.39% I have nothing to be bitter about.

For good, well maintained properties I charge well under the market rate, choose my tenants with care, treat them with respect, and have always made a comfortable return.

I just hope that my kids manage to avoid landlords like you.

socrates

rent_and_buy = confused31

trawl the posts and see for yourselves.

I think rent_and_buy has disappeared now after being trapped in his own net.

This clown will never be a LL he cannot sell his house even though he has reduced it several times - do you think it will rent if it cannot sell?


Steel_eye congratulations on an excellent rate.

rent_and_buy

steeleye and socrates very similar stories, is that a coincidence you are the only ones who can tell us, both joined the same time steeleye doesnt post for nearly three years and then all of a sudden has a urge to.;)

i see you are both on trackers, good luck, oh and what a coincidence you both bought your btl properties at the same time when they where cheap.:rolleyes:

Ill be waiting for for your demise, you can change you name to onyourknees, instead of socractes.

only time will tell and its on my side, im thinking 6 months i might buy and rent my current house out, but thats no concern of you jealous landlords, who will soon feel like they have the weight of whole world on their shoulders, when interest rates go up.