Rooftop Mortgages.

roswell

Evening all,

Can anyone give me any info about a company "Roof top mortgages" , I have had a look on there site and it looks like they are only accessable via a IFA,

Im not interested in a mortgage through them more the opposite, I have been to view a repo and they were one of the lenders with a charge against the property, Im trying to take a guestimation at what will be a reasonable offer on the property before putting a offer in. I would like to know if possible what sort of LTV they borrow to.

Any help much appreciated.

roswell

Opps forgot to ask somethign so ill tail it on,

Do remortgages show on land registory data, As I have purchased a copy of the deeds and the charges (there is 2) It advises of the last sale price and transfer of the property but there is only 2 lenders (one a secured load) Woudl i be correct in thinking in that case if i added £25 000 to the original sale price that is not going to be a million miles away from the outstanding debt ?

MortgageMamma

Hi Roswell

They have historically been lending at 95% ltv but its been a long while since I have seen them on my sourcing system

Its difficult to guestimate how much to offer on repo's - I bartered one down in 1997 from 59k to 35k - but the property climates changed so much since then

silvercar

lenders have a duty to get the best price, though in a limited timescale. although they will be keen to cover the loan they won't just accept the first offer that does this.

roswell

Thats that is usefull,

Well We have started a good relationship with the agent (very surprised at some of the info she is willing to give) I also know that its been on the market 2 months, there has been 2 viewings (at the same time) that was ourselves and a family, it needs work (nothing major) but the other people viewing were a family that have a house to sell that isnt on the market (agent advised there not really a contender as they HAVE to sell before they can purchase this) Eg they arent purchasing as a second property.

There is another viewing next week and as good / bad luck would have it we know the couple that are going to view it, they arent a contender either due to personnal circumstances.

The agent advised that they are lookign for a quick turn arround and also said it would need to complete within 28 days of any offer being accepted.

So far we have showed the most interest and been in contact with the agent the most (she advised us this) we also had a good chat to her after the viewing so i just have a good feeling about it all.

Mortgage mamma, the mortgage is quite old 8 years plus, but the charges against the property are with in 2 months of each other last year, I guess its taken till now to get possetion, The last repo that went in this area was 2 years ago (i have a good memory) for the same style house, it went for roughly 1/3 of its marketing price, I agree the market was different then to now but it seems most people arent interested in repo. (missing kitchen and doors whats that about ??)

The agent also advised us that the property would go in the paper once there is a offer on it but also hinted that this isnt always the case.