Can i do this? Have i benefited off the budget?

Skint_Ben

I dont know why everyone keeps assuming my girlfriend doesnt earn enough to get a £150k mortgage? why would i even ask the question if she didn't meet the basic requirements? yes she has debt, that does not mean she can't get a mortgage.

10% deposit could be borrowed short term from family, and given back after completion. (same principal applies to some of the credit card debt)

are there any legal problems involved in what i am trying to do.

again, i don't want to be rude, but i'm not really bothered about hearing if people think my girlfriend can or cannot get a mortgage.

What i am interested in knowing, is........... ASSUMING SHE CAN GET A MORTGAGE, is what i would like to do possible and legal?

I apreciate the fact people are taking there time to give me advice which they feel is helpful, but, unless you anyone has any views on the question i actually asked, then i'd prefer to not have any more advice on my girlfriends likelyhood of being offered a mortgage, thank you

shop-to-drop

Is stamp duty abolished for the seller as well as the buyer on a property under £250K?

I thought it was just the buyer.

JA1000

shop-to-drop wrote: »

Is stamp duty abolished for the seller as well as the buyer on a property under £250K?

I thought it was just the buyer.

Stamp duty for the seller - has this been introduced?

JA1000

Skint_Ben wrote: »

I dont know why everyone keeps assuming my girlfriend doesnt earn enough to get a £150k mortgage? why would i even ask the question if she didn't meet the basic requirements? yes she has debt, that does not mean she can't get a mortgage.

10% deposit could be borrowed short term from family, and given back after completion. (same principal applies to some of the credit card debt)

are there any legal problems involved in what i am trying to do.

again, i don't want to be rude, but i'm not really bothered about hearing if people think my girlfriend can or cannot get a mortgage.

What i am interested in knowing, is........... ASSUMING SHE CAN GET A MORTGAGE, is what i would like to do possible and legal?

I apreciate the fact people are taking there time to give me advice which they feel is helpful, but, unless you anyone has any views on the question i actually asked, then i'd prefer to not have any more advice on my girlfriends likelyhood of being offered a mortgage, thank you

Yes you can do it, go for it but without earning the £40k and the debts no chance.

shop-to-drop

JA1000 wrote: »

Stamp duty for the seller - has this been introduced?

My mistake no stamp duty for seller. I thought there was for seller and buyer but as I've never sold before... Well that's a relief anyway!:D

TrickyDicky

Skint_Ben wrote: »

What i am interested in knowing, is........... ASSUMING SHE CAN GET A MORTGAGE, is what i would like to do possible and legal?

Yes. But the legal fees wipe out most of the saving.

Skint_Ben

great, not really worried about the legal fees wiping out the saving. more concerned about my monthly outgoings at the moment.

cheers.

will update if i decide to attempt this and let you all know how it goes on getting the mortgage

TrickyDicky

Skint_Ben wrote: »

great, not really worried about the legal fees wiping out the saving. more concerned about my monthly outgoings at the moment.

cheers.

will update if i decide to attempt this and let you all know how it goes on getting the mortgage

Why wouldnt you just re-mortgage anyway? theres no stamp duty on that.

Skint_Ben

i cant get a remortgage due to my ccj (i'm already at 75%).......otherwise thats exactly what i'd do

RufusA

@Skint_Ben I know you probably don't want to hear this, but you really do need to seek professional advice about your debt.

You can't just magic it away by juggling property ownership, and if you try and presuade your girlfriend to be less than 100% truthful on the mortgage application she or both of you are likely to end up being prosecuted for fraud.

By truthful she needs to be honest both about her income, and the source of the 10% deposit (including if she' borrowed it).

Unless you have dependants, I would seriously consider selling up, cuttings your loses and clearing your debts.

If you love your girlfriend and are genuinely concerned for her, then seek professional help now before you embark on something you could both end up regretting!

Sorry - Rufus.