Non Status Mortgages

js78

I wondered if there was a such a mortgage these days? I realise I will be took try on the interest rate and repayment.

I ask for Non Status as I have a job sales rep only commision only and until recently never paid a penny in my account due to the bankruptcy, even now I only put about £100 in a week. I get £350 per week min sometimes up to £500. I work for a company who pay cash for adverts in a magazine.

I am a FTB in my early 30's and have rented since I was 18 mainly short hold tenant never staying more than one year at any place, but always on the voters meaning I am traceable.

I went bankrupt in 2002 and all the info dropped off 2008 but there are still some late payments, defaults etc even though I was told this would be removed. Alot of the companies did not update my default until 2005 so therefore as a result still show going into 2010! 8 years after! work that one.

If I go to a broker they will charge a fee?, they will want to see bank statements? even if non status? I was thinking if the mortgage company ring the inland revenue to check my contribitions they will say i declare £250 per week.

Is it worth me going for a mortgage?

I also ask if this ajay ahuja character is right when he says you can buy a property without a deposit buying it for 25% less than market value but then the surveyor will put the full price and therefore not having to put up huge sum of money to buy the house?, is this a scam or for real?

He emails me every day says 10% -20% return on the rentals per month? profit? the latest one said 14.2% £381 per month PROFIT? house is £62k all i have to put down is £6700? saving me about 8k which sounds amazing.

I am a not that convinced as his fees are about £2500, 3rd party fee £4000 and so on?, also isn't the profit taxable over £4250?

princeofpounds

You are unlikely to get a mortgage. I presume you mean self-certification mortgages where you declare you own likely income as a self-employed person. These have been really tightened up as frankly they were always vulnerable to fraud.

I would concentrate on saving and waiting for all your credit record problems to get fully timed out. I would also concentrate on getting a job that pays a reliable wage if you want to be a good enough risk to lend money to.

As for Mr Ahuja (if it wasn't for the fact that you have a posting record the mere mention of his name would make me think that this is a troll post!)... I've just written this on another thread which addresses the issue of investment property 'procurers'. Frankly, if it sounds too good to be true it is, and if you don't understand what I've written below then you don't have the knowledge yet to even think about getting involved in anything complicated.

If a 'supplier' had properties at 20% BMV, they could potentially realise a return on invested capital by buying and selling on the open market of 25%.

They could also use mortgage finance to do this (interest costs on a short term mortgage are pretty low these days so let's ignore those), perhaps at 75% LTV. The return on their equity, the 25% cash they put in, would be 100%.

If such a transaction took 4 months start to finish, then they could do three a year and compound to receive an annualised return on the original equity of 800%.

So if anyone really has property BMV, they ain't going to sell it to you, and even if they do they will sell it at a steep price that takes account of the opportunity they are forfeiting!

theartfullodger

I also ask if this ajay ahuja character is right when he says you can buy a property without a deposit buying it for 25% less than market value but then the surveyor will put the full price and therefore not having to put up huge sum of money to buy the house?, is this a scam or for real?

ajay ahuja is a fraud & a crook: I could of course be wrong... If so I'm happy to meet ajay round the back of the pub with baseball-bats... (can I bring some mates???)

Cheers!

Lodger

If it sounds too good to be true.... it is too good to be true...

theartfullodger

He's...
http://www.ahuja.co.uk/property-services/


flogging "training materials"... - if you really wanna sign up to this stuff go ahead, but I hope you can chuck the money away,,,,


Cheers!

Lodger

PS I assume you are Ajay... which pub???

Colincbayley

For Sale

Large Baseball Bat, hardly used, a few red stains, quick sale required.

theartfullodger

For Sale

Large Baseball Bate

Bate?? Your fingers shaking lad???

Colincbayley

theartfullodger wrote: »

Bate?? Your fingers shaking lad???

OK, you can have 10% off due to the typing mistake.

I will send you 50 emails detailing how to obtain the bat at a reduced price, my fee for the advice is £2500 ( -10% as agreed ) how would you like to pay?

ritz55

js78 wrote: »

I also ask if this ajay ahuja character is right when he says you can buy a property without a deposit buying it for 25% less than market value but then the surveyor will put the full price and therefore not having to put up huge sum of money to buy the house?, is this a scam or for real?

I'm not convinced about the above as I've currently in the process of buying a house which is infact about 15% cheaper than it's true value and the Valuation report still came back with a valuation of the price I paid rather then its true value and its also not the 1st time I've seen this. Normally find the valuation if more will put the price you paid as a maximum.

theartfullodger

Ritz,,,,

re...

Valuation report still came back with a valuation of the price I paid rather then its true value

The valuation report gives the true value... whatever the salesman told you the "true value is" is garbage....

It'll be a con...

Cheers!

Lodger