County Court Judgement & Self-Employed

herbiesjp

It will obviously be lower to minimise your tax bill, but it may still be enough to get the mortgage amount agreed.

The size of your deposit is great, and will open a lot more doors for you

Have you spoken to any other whole of market advisers?

Mr_helpful

if you have 15% deposit you could buy it as a buy to let on your income alone as rental income is the main cruteria . rent it to BF and then mysteriously fall in love and move in.

Hpriddle1

Guys your being real helpfull. Our mortgage broker mentioned Buy to let but I don't really understand the process of it. Can you enlighten me some more please

Hpriddle1

We have only spoken to the one broker but he has been reccommended and is proving to be extremely good.

Mr_helpful

buy to let most of the time works on how much the property would rent for and so in many cases your income is not looked at. The rental is assessed by the lenders valuer and depending on lender hasto cover mortgage calculated on interest only plus a margin. There are so many variations I cant list them here. I would contact someone like me there are plenty of advisers on this site who should be able to explain the finer points of Buy to let and rentals. I have several rented properties and never been asked to show income.

Hpriddle1

Have you bought in london at all?

Mr_helpful

outskirts inside M25 but not central london other half has btl in harrow

herbiesjp

Hpriddle1 wrote: »

We have only spoken to the one broker but he has been reccommended and is proving to be extremely good.

I would suggest going back to the broker then and asking him the same questions. See what he says, and what options he comes back with, and then you will have a better idea of what options you can go for.

Going for a BTL will not ignore the adverse credit history, and BTL rates and higher than standard deals.

Personally I would think getting a residential mortgage is the way to go for you here, as you will be both living in it from day , and based on your incomes you will be able to get a residential mortgage deal

HTH

AndyWallace

Mr_helpful wrote: »

if you have 15% deposit you could buy it as a buy to let on your income alone as rental income is the main cruteria . rent it to BF and then mysteriously fall in love and move in.

Whilst there may be an anomaly with BTL, in that the person buying the property must 'not intend' to live in the property at the 'time' of application, I think your comment is a rather poor indication of suitable advice.

It would seem this person is looking to purchase a home for herself and boyfriend.

Andy.

Mr_helpful

Oh sorry but I was unaware that saying you could do something was the same as I advise you to do it. She has her own broker he is the one that will or will not advise. Besides I have had it made quite clear to me by other posters that anything said on here means jack schidt as this site does not give advice.
I really do worry about the quality of English teaching in schools these days