ING Direct - Mortgage Application

mjoseph

Hi

I wish to apply for a mortgage with ING Direct.

My situation is as follows:
1. Loan amount reqd = £365k
2. LTV = 80-85% (i.e. we have a deposit of 15-20%).
3. I am married and the property I live in with my wife, who is self employed, is in my wife's name and always has been.
4. Jointly own my parents home with my dad. Remaining amount = £83k. Repayment = £566.
5. Jointly own buy to let flat with a friend. Mortgage outstanding is £126k. Repayments = £131 and rental income = £700pcm.
6. Zero outstanding loans or credit card bills.

The new mortgage we're seeking will be entirely in my name because my wife has been self employed for less than a year so cannot self certify and add herself to the mortgage yet. She is not a dependent though.

Before I proceed with the application with ING Direct, the question I have is exactly what evidence/requirements will they ask for? For example will they request 1, 3 or 6 months wageslips? What about bank statements? and so on...

Perhaps someone has some specific advice with other lenders based on the above info?

I don't want to proceed with the mortgage application until I am certain I can meet and fulfil the lenders criteria and provide them with everything satisfacorily.

Would REALLY appreciate any kind of advice for someone in a similar position or who has recently applied for a mortgage with ING Direct.

Thanks in advance!!!

GMS

What is your income?

mjoseph

£75k gross.

GMS

4 x income max for ING as far as I am aware.

You would need to deduct commitments before applying multiples so other mortgage with Dad will be taken as a commitment.

Need to look elsewhere it seems.

shortchanged_2

Look for a cheaper house.

JA1000

You won't get more than 80% with ING

dimbo61

Buy to let flat with £126K mortgage costs £131 a month !
Thats an interest only mortgage with a rate of 1.25%
Please tell me its fixed for 10 years as well