I've been naughty and need advice !!

Jimmysmooth2001

Hi Basically I got my mortgage by "Self Assessment" ie I was advised to lie about my income which at time tought great as long as I get the house. But now the 2 year offer is up and my payments are going to go up and I would like to switch . Will the new companys ask about my old mortgage ? I have changed employer and am on less money now aswell. I dont want to just keep this deal so as not to rock the boat. Pls can anyone help ?

MortgageMamma

How much do you earn now and how much do you need to borrow?

When did you take out your last mortgage?

Jimmysmooth2001

Hi thanks for replying . My income is £13500 plus another £1220 and I would need to borrow around £41,000 . And I got my Mortgage in August 2004.

Look for to hearing from you jimmysmooth2001@yahoo.com

Cheers Jimmy

shelly

You might want to pm your e-mail addy to whom ever its meant for......this place is full of nutters who will sign you up for allsorts

HelpWhereIcan

Jimmysmooth2001 wrote:

Hi thanks for replying . My income is £13500 plus another £1220 and I would need to borrow around £41,000 . And I got my Mortgage in August 2004.

Look for to hearing from you

Cheers Jimmy

Jimmy

Depending on any loans or other commitments you may have, you will find that borrowing 41000 on an income of 13500 is not hard as it is only 3.03 times your income. Some lenders will do 5 x your income plus.

Are the figures you have posted correct? If so, then you have no need to worry and will probably have a good choice of lender and deal.

If you do not feel happy dealing with it on your own, speak with a broker and/or post more details about what you are looking for and I am sure someone will be able to help.

Oh, and by the way - I would agree with shelly that you might want to pm your email address to people you select rather than risking it being available to all and sundry - not all of us are nice!! :rotfl:

kenshaz

Self praise is no recommendation

ben500

HelpWhereIcan wrote:

Jimmy

Depending on any loans or other commitments you may have, you will find that borrowing 41000 on an income of 13500 is not hard as it is only 3.03 times your income. Some lenders will do 5 x your income plus.

Are the figures you have posted correct? If so, then you have no need to worry and will probably have a good choice of lender and deal.

If you do not feel happy dealing with it on your own, speak with a broker and/or post more details about what you are looking for and I am sure someone will be able to help.

Oh, and by the way - I would agree with shelly that you might want to pm your email address to people you select rather than risking it being available to all and sundry - not all of us are nice!! :rotfl:

But you just posted his email in your quote :rotfl: You may want to edit!

hethmar

My son was in a similar situation - not long graduated and he wanted to buy a flat, basically the broker told him what income he needed and left him to fill in the forms.

3 years on his fixed deal is up and he wanted out because it felt uncomfortable. I should say by this time his career is working out very well and he can easily afford the mortgage.

He just went to his building society and they fixed him another deal straight away - they wont ask you the ins and outs of the old one and if you have managed the payments then I cant see you have any problem at all.

I would add, check out if you have any overhang with the first company and whether they demand an exit fee first.

Good luck.

Jimmysmooth2001

Thanks everyone for you advise seems Im not in as bad situtation as I thought I think what I might do is try martin's tip on free advice that I read in his book and see what happens.