How much can I borrow ?

_Andy_

Your original question was 'how much can I borrow?' - if you're not willing to state what your actual income is, then no-one is going to be able to give you a meaningful answer.

maninthestreet

illiterate_monkey wrote: »

sorry but i was here to get info on mortgage, not to publicise my income.

i live with mum n dad and we dont share money between us. its just the way it works amongst us.

Don't you think any mortgage lender might ask the same questions as us on this forum? - A 21 year old still living with his parents turns up asking for a £900,000 mortage, claiming to earn £250K per annum, but gives contradictory information on the source of this income and how their employment generates such a high level of income, then admits not all of this income is in fact 'legit' - What do you think your chances of getting a mortage are?

koexelek

puppy8910club wrote: »

lol he's prob a little kiddie. No offence but in your other post if you really bring home 250k you would not worry about £8-£12 and phone customer services...........

look after the pennies and the pounds look after themselves :rolleyes:

Bean_Counter

illiterate_monkey wrote: »

Annual income is in the range of £250,000.

Is this the annual turnover of the business (i.e. total of all money that comes into the till) or the business retained earnings (profit left over after paying for all goods, salaries, tax etc)?

Wutang_2

illiterate_monkey wrote: »

i live with mum n dad and we dont share money between us. its just the way it works amongst us.

Just apply for a mortgage and where it asks for your income details - just put the above sentence and I am sure it will be fine.

illiterate_monkey

Bean_Counter wrote: »

Is this the annual turnover of the business (i.e. total of all money that comes into the till) or the business retained earnings (profit left over after paying for all goods, salaries, tax etc)?

this is slightly less than the gross porfit.

there arent mcuh wages and rent going out.

a maximum of £40k for wages and rent i would assume.
so net profit is about £210-220

i am just working on approximate figures here.

Bean_Counter

illiterate_monkey wrote: »

this is slightly less than the gross porfit.

there arent mcuh wages and rent going out.

a maximum of £40k for wages and rent i would assume.
so net profit is about £210-220

i am just working on approximate figures here.

Is the £40K wages to people other than you and your parents?

Is the business a partnership and you are a partner in the business? Do you have any records to show that you take a regular income from the business?

Or is the idea that the business buys this property for you and your parents to live in?

Chinkle

Minimum depost 10% - £90K - leaving you requiring £810,00 mortgage. Typical multiples x3 giving you £750. Oops £60K short - bank probably won't worry about that.

Go visit some estate agents and waste their time not ours.

illiterate_monkey

Chinkle wrote: »

Minimum depost 10% - £90K - leaving you requiring £810,00 mortgage. Typical multiples x3 giving you £750. Oops £60K short - bank probably won't worry about that.

Go visit some estate agents and waste their time not ours.

many thanks

will post the pics here soon . thx