mortgage advice

srobbo74

In a real quandry! have rung 4 mortgage advisors this week and not heard back off any of them!!

Anyway my existing deal has ended a month ago so mortgage has decreased by £87 a month. Me and my wife would like to move and the house we originally wanted is now back on the market!!

Question is we have enough for a 10% deposit on the new house on the market for £135k my sister is the agent selling house and vendor will accept £130k. Will we be able to get a mortgage? if so can anyone recommend any in the birmingham area.

I would love to be able to keep my current house but selling it will slow the process down and mean we will miss out on the house we like

Dave_Ham

Hi - I cannot understand why mortgage advisors would not call back...?

In any case you do need to talk to someone. You will need to give us an idea on incomes and commitments of those involved - this will be crucial to your chances of success.

Keeping your house will depend upon the above, although if your current lender (?) will consent to let this may help. Depending upon your lender, they are likely to hike up your rate for the accomodation of this.

Remember stamp duty kicks in at £125k, so always surprised to see a £130k purchase price in there...

Good luck

srobbo74

Nor me!!

current lender santander svr of 4.29% borrowed 90k and put 10k deposit down on 100k purchase price house been valued at 115k by 2 agents so far.

income £35,700 and 9k self employed with 3 years books

Dave_Ham

Possible, but will need some work...

Not sure on the current Santander policy for consent to let, although given their policy on everything else!!

Go into a Santander branch and ask the mortgage advisor how they will treat a consent to let. Do not give them personal details or let them pretend there is hope you could have 2 mortgages with them - no hope..

Get some decent advice, and quickly given your OP

Good luck