Advice on Mortgage

Gemmadm

Hi everyone,
(sorry its long)
I was wondering if anyone can give me some advice about a mortgage. We currently have a mortgage with Halifax for £90,000. We have decided to move to somewhere a bit bigger as family is expanding. We wanted a mortgage for £112,000 for a house worth £150,000 (75% mortgage). We phoned Bristol and West as some of our income is bonuses etc and wanted a self cert one. In principal they said we could get that amount subject to credit checks. The problem is that we have 2 loans - 1 for £10,000 (balance £9,500 and the other £4,300 and 2 credit cards, 1 for £1,500 and the other for £600. I told them the monthly payments on the phone - £150 and £134 and credit cards £25 and £10 ish (varies). This was put down so they said we could have that amount with these monthly payments. They don't know the actual amounts though. Would this matter. I don't want credit checks against us because if they refuse we will have to go somewhere else. We have no missed payments/late payments/ccj's/defaults etc between us.
His income = £16,000
Mine = £15,000 + we have some extras - approx £6000.
Monthly payments will be more than now but we can afford it comfortably and I will be changing my job in a few months and becoming self employed so we wouldn't be able to get a mortgage for a while after that so its now or in about 2 years.
Thanks Gemxx

wardlaw

The way income is assessed is for your joint income less any outgoings

ie £37,000.00 less Loan/Credit Card repayments = £319pm x 12 = £3828

Amount of Income to pay mortgage £37,000.00 less £3828.00 =£ 33,172

£33,172.0 IS MORE THAN ENOUGH TO PAY FOR A £121,00.00 MORTGAGE

In FACT YOU ONLY REQUIRE 75% LTV means there is plenty of security/equity for the lender so the income multipliers or afordability calculations will be high

Just checked the lenders lending criteria as I write

ITS 4x joint income WHICH IN YOUR CASE EQUATES TO £132.688.00

yOU HAVE NOTHING TO BE CONCERNED ABOUT

I am a Mortgage Adviser

You 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 financi
t

absolutebounder

I am a Mortgage Adviser

You 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 financi
t

You havent quite got to grips with IT skills have you?

jamesd

absolutebounder, please don't be unpleasant to new brokers while they learn their way around the place. We all started somewhere.

toonfish

You may well not need to go self cert, and should be able to get a better rate if you can avoid this. Why not see what the Halifax will offer you first and take it from there?

wardlaw

absolutebounder wrote: »

I am a Mortgage Adviser

You 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 financi
t

You havent quite got to grips with IT skills have you?

YOU OBVIOUSLY HAVE ABSOLUTELY NO EXPERIENCE YOU AROGANT !!!!

absolutebounder

jamesd wrote: »

absolutebounder, please don't be unpleasant to new brokers while they learn their way around the place. We all started somewhere.

Oh Wardlaw is a broker is he? How was I supposed to know? There is no brokers signature. Brokers usually can string a sentence together. Brokers use computers for their work so are usually blessed with some IT skill. Brokers can quite often spell medium length words.
This guy is not very convincing as a broker are you sure he is one?:rolleyes:

wardlaw

oooooooh scary stuff me thinks

Am I bothered

Do I look bothered


You obviously enjoy attacking people who you have never met


BET YOUR ONE OF THEM HOODY GUYS WHO SHOUTS BUT HIDES UNDERE HIS LITTLE OLD HOOD'Y:T :j

Rick62

Once again use capital letters very aggressively rather than conducting himself in a professional manner.

absolutebounder

"who is this ignorant idiot"

I think this is pot calling kettle black, from someone who cant even put a sentence together properly and has only learnt to write in capitals (big letters to you wardlaw).

wardlaw

I.m glad I came in here

Never had such a laugh for years

BRING IT ON

ITS SOOO FUNNY Mortgage Brokers attacking one another Kind of defeats the reason for forums. I believe Why do you do it ?


All these people attacking each other and they dont know each other

The question is, do all morgage brokers in England act this way, and if so, why do they bring their profession so far down the food chain that the APR is so high

Guess I rest My case <--feel more arrogant attackers comming on here, which if they do, will clearly state my point yawnnn

Can't wait for the next lame broker All you do is bring your OWN INTEGRITY DOWN AND NOBODY WILL ASK FOR YOUR ADVISE

It's like a BIG JOBBY they will bypass you:T

There are only 2-3 that act this way the ret are great AND convey great advise to all

You will know who I am referring to as the people in here are not stupid and are well aware of those who attack others and relent to ch:A ildish anticts:A


I understood brokers came here to help and not confuse ppl like you are clearly doing Dont you have enough clients to service

IF you did why come here and attack people you dont know

Is it play group or what

lolol
lmko:T :T :T :T :T