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Parents to provide 100% cash for purchase, then how to get a mortgage in 6months?
Comments
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getmore4less wrote: »Do they NEED the cash back.
Why not pay them back over time.
Be carefull with the loan agreement you need to word it so you acound for not being able to mortgage and your potential deaths, get wills made up as not married.
I don't think they would be up for the idea of a 25year loan?
Having spoken once again with the broker originally used he has suggested that he might be able to find a lender willing to lend - he has said that these will be the smaller lenders as a result the rate will be much higher and they will offer smaller multiples. Is this assumption correct?
Previously my most favourable lender was with the Halifax however they are unwilling to lend on a job offer. I haven't personally tried any others as this would require time consuming appointments for them to turn around and say "sorry but computer says no". Any further recommendations welcomed, and thanks again for all your thoughts and opinions so far.0 -
They will, as long as the commencement date is within three months of the date of the application.Previously my most favourable lender was with the Halifax however they are unwilling to lend on a job offer
Can't you wait until next week?I am a mortgage broker. 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 financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
This question of lending against a job offer depends on the start date for the job and when you need to drawdown funds.
This will then dictate a suitable lender.
It seems clear your current broker has no idea on this type of case.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 -
Im sure 'money laundering' will be mentioned when trying to do this - i might be wrong....0
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