We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Query regarding mortgage & inheritance
catchooky
Posts: 420 Forumite
Hi all, just a brief basic query.
Basically, I've fallen in love with a new-build home which, according to the developer's website, has not been released yet and there are lots of plots of that hme style available.
Now, I'm in £33k of debt but am in the really lucky position of having lots of carp to sell, as well as a nice daddy who is helping me because I was made redundant twice this year already:mad:. And he's fabulous!:T
Now, my aunt has a £200k inheritance held in trust for me which my dad says I'm not allowed to touch till I have a perm job and am basically settled.
The house I really have my heart set on should be in the region of around£300k, which means that with other financial incomes etc, I should need around £85kish.
I really wanted to know if a bank saw that you were puttin down a big deposit, would they be better about mortgages etc? Obv I expect/hope to be working by then and to be debt free but I wasn't sure how much more of a deposit I would be able to afford?
Also, do they accept a private income as a source of income? ie income from stocks, shares & other investments?
Thanks very much in advance :T:T
Basically, I've fallen in love with a new-build home which, according to the developer's website, has not been released yet and there are lots of plots of that hme style available.
Now, I'm in £33k of debt but am in the really lucky position of having lots of carp to sell, as well as a nice daddy who is helping me because I was made redundant twice this year already:mad:. And he's fabulous!:T
Now, my aunt has a £200k inheritance held in trust for me which my dad says I'm not allowed to touch till I have a perm job and am basically settled.
The house I really have my heart set on should be in the region of around£300k, which means that with other financial incomes etc, I should need around £85kish.
I really wanted to know if a bank saw that you were puttin down a big deposit, would they be better about mortgages etc? Obv I expect/hope to be working by then and to be debt free but I wasn't sure how much more of a deposit I would be able to afford?
Also, do they accept a private income as a source of income? ie income from stocks, shares & other investments?
Thanks very much in advance :T:T
NSD November 1/20 :money:
Crap 1, Simple Be, Next, VANQUIS, TESCO, VERY, EMPIRE, ADDITIONS, HALIFAX C/C, HALIFAX LOAN, STUDENT LOAN
Make £10 a day in November £34.57/£450 :eek:
Crap 1, Simple Be, Next, VANQUIS, TESCO, VERY, EMPIRE, ADDITIONS, HALIFAX C/C, HALIFAX LOAN, STUDENT LOAN
Make £10 a day in November £34.57/£450 :eek:
0
Comments
-
Your debts will significantly reduce the amount you can borrow so you need to clear these ASAP. You should also consider budgeting so you don't get into debt again once you have the responsibility of a house. Complete this and post on the DFW board:
http://www.makesenseofcards.com/soacalc.htmlDeclutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards