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Mortgage advice needed please
hopefullbuyer_2
Posts: 3 Newbie
Hi
I am drawing a blank with my solictior and mortgage company so wondered if anyone can help.
I want to buy a house with my partner. He has signed a contract and paid a deposit on a property overseas some 4 years ago and the sale has not gone through. We are doubtful of the honesty of the developer but have been advised by the overseas courts that if the developer decides to he can enforce completion on the property.
Therefore we want to make sure that the house we buy is protected in the event that this happens. I have £100k deposit for a property that is £243k, I earn £25k/year. I have checked with all the high street vendors and they wont lend me the remainder. Do you know of any lender that would? My partner earns £25k basic also but we want to keep his name off mortgage just in case anything happen overseas. We have looked a getting a joint mortgage and setting up a trust deed but the mortgage company won't let the trust deed be set on the title deeds as a second charge.
Would really appreciate your help
I am drawing a blank with my solictior and mortgage company so wondered if anyone can help.
I want to buy a house with my partner. He has signed a contract and paid a deposit on a property overseas some 4 years ago and the sale has not gone through. We are doubtful of the honesty of the developer but have been advised by the overseas courts that if the developer decides to he can enforce completion on the property.
Therefore we want to make sure that the house we buy is protected in the event that this happens. I have £100k deposit for a property that is £243k, I earn £25k/year. I have checked with all the high street vendors and they wont lend me the remainder. Do you know of any lender that would? My partner earns £25k basic also but we want to keep his name off mortgage just in case anything happen overseas. We have looked a getting a joint mortgage and setting up a trust deed but the mortgage company won't let the trust deed be set on the title deeds as a second charge.
Would really appreciate your help
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Comments
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A loan of almost 6 times your annual salary is a complete non starter. You will either have to try to get a straightforward loan based on your joint income or look for a cheaper property.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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As above. Best way forward is to try to sort out the foreign mess. Either that or save another £50k or so, or buy a smaller house.
Or, bit radical, find a new partner. Maybe one who already has a lovely house.
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