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advice regarding further advance?
Hi all,
I am looking at asking my bank for a further advance but before i begin proceedings i was wondering if anyone could advise me.
I have a mortgage of just over 156k with a recently valued property (by an estate agent so not official) at 215k. I am looking to get another 25k in order to build an extension as i'm a builder so can do it for a reasonable cost.
I'm currently unfixed on a SVR and was wondering, do the banks ask for salary before or after tax and will my finance on my car affect the outcome?
Many thanks, Matt
I am looking at asking my bank for a further advance but before i begin proceedings i was wondering if anyone could advise me.
I have a mortgage of just over 156k with a recently valued property (by an estate agent so not official) at 215k. I am looking to get another 25k in order to build an extension as i'm a builder so can do it for a reasonable cost.
I'm currently unfixed on a SVR and was wondering, do the banks ask for salary before or after tax and will my finance on my car affect the outcome?
Many thanks, Matt
'There is no happiness except in the realisation that we have accomplished something.'
0
Comments
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You might be better asking this on the mortgages and endowments board.
If extending your mortgage then this would take you up to around 85% which is certainly possible.
Earnings for affordability calculations are normally quoted gross but affordability will be reduced by things like a car loan or credit card debt.
A number of brokers are normally on the other board so that's the best place to go for something more reliable.0 -
Oh OK thanks, I'll head over there
'There is no happiness except in the realisation that we have accomplished something.'0
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