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How Can We Take Advantage of This?
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How much do you need to borrow?
What income for the self emp person was declared for tax and what does the employed person earn?0 -
I'm going to check my Experien report and come back to you. Thanks for your helpStarted Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0 -
No worries, for an extra £2 each do check Equifax also as it may provide an opportunity.
This will be challenging, although worth pursuing for now I would expect...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Very surprisingly my OH credit report is excellent and mine is good. We would need to borrow 186 ,400 to remortgage. The problem would be proving income as we only earn about 35000 total between us. Are self cert mortgages still a possibility?Started Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0 -
No self cert any more.
What doe the reports show? Any adverse credit? Don't pay any attention to any scores given by credit reference agencies.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No adverse credit on OH and just one on mine for a small amount on a credit card which I am paying back on an agreed monthly amountStarted Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0 -
with the offer deducted[
Conflicting info.....is your LTV 22% or will you have 22% equity.....i read from your post the latter?
Your income is low for the loan size you have..but it should be possible for you buy a smaller property for now should your deposit he big enough. Try and stay on the property ladder as its hard to get back on.
M plc mortgages are not portable, so if your on interest only now, you wont get it again going forward without proving how its to be repaid back.
The debts you have if not cleared will seriously pull back your lending amount.0 -
Sell your property to obtain the discount. Then take matters forward from there. Even if it means renting. As otherwise you will remain trapped and burdened with debt.0
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Thrugelmir wrote: »Sell your property to obtain the discount. Then take matters forward from there. Even if it means renting. As otherwise you will remain trapped and burdened with debt.
Sweet!!
Only 34 more thanks T?0 -
Lets not forget the OP is moving to rental, just cannot sell quick enough to achieve the discount..
Therefore, they are looking to move quickly to remortgage using the discount as a deposit - It was me who confused the LTV apologies, they have 22% equity/deposit but do not want to port.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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