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80k deposit but cant get any type of Mortgage please help

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Comments

  • beecher2 wrote: »
    If your story is true (I personally don't believe a word of this thread and think you got a bit carried away with the car being squashed part) then you've cost the public purse a lot more than many benefit claimants through your tax avoidance scheme.

    everything I have said on this forum is 100% true, disappointing that you would make an unfounded, uneducated opinion and basically call me a liar. I can see that your location is listed as Glasgow, an area of the UK with high unemployment and where many benefit claimants reside, I expect you must have a totally different perspective which I will seek to understand.
  • kidmugsy wrote: »
    Mm, it tops even the cats and the hysteria-prone Slovak.

    so if I say I have cats I am a liar? want me to send a photo of me with pregnant wife with cats standing next to a battered car? laughable - I can see that this thread has now runs it course and that the comments have now become valueless - thanks to all the professionals and experts who have contributed, I will pursue our most likely outcome of purchasing a cheap house in cornwall with cash in the next six months or so. thanks everyone
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    everything I have said on this forum is 100% true, disappointing that you would make an unfounded, uneducated opinion and basically call me a liar. I can see that your location is listed as Glasgow, an area of the UK with high unemployment and where many benefit claimants reside, I expect you must have a totally different perspective which I will seek to understand.

    I think you're a troll and you're enjoying all the attention. Nothing rings true, and your digs about the NHS, and now Glasgow are just to make people bite.
  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    edited 8 August 2014 at 11:11AM
    Wow not sure where you get off saying benefit claimant as if it is something to be ashamed of. You are in no position to judge as you are also a taker not a contributer to the system. If you and others like you paid your fair share of tax maybe the nhs could hire more staff and be less stretched and therefore the ambulance could have come to your wife earlier and the hospital may have been able to scan your unborn child rather than sending you away

    Those is glass houses shouldn't throw stones
    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 financial advice.
  • beecher2 wrote: »
    I think you're a troll and you're enjoying all the attention. Nothing rings true, and your digs about the NHS, and now Glasgow are just to make people bite.

    troll troll thats me lol, I think you are up in gloomy glasgow and quite bitter, anyway I have work to do and it seems there are no more good ideas, thanks and good bye :o
  • suse*
    suse* Posts: 303 Forumite
    Sixth Anniversary Combo Breaker
    unless you're planning to remortgage the flat and overpay it to 75%ltv or lower you have no chance of nram giving you permission to rent. They will only do it for a year as well. Believe me I have been down this road trapped in negative equity with no escape for years and in turned trapped in one place. The insurance to just leave the place empty isn't cheap either. Again again if the rates go up you won't be able to cover the mortgage so won't have a high enough yield from what you've said.
    [STRIKE]Original Mortgage 07/07 £160000 LTV 100% [/STRIKE]Remortgaged 10/13 £118000 LTV 84%
    Outstanding 02/12/14 £107652.40
    LTV 76%
  • AFK_Matrix
    AFK_Matrix Posts: 682 Forumite
    I wouldn't bother suse as he has completely ignored my questions and advice on renting out his flat. He obviously is trying to avoid the fact he is going to probably have to sell his flat, thats if he is even telling the truth.
  • yes I may well sell the flat since it hasnt/inst/wont make me any money - in order for the rental income from renting out the flat to actually benefit me rents would either need to rise to say 13-1500 pcm which is possible but not any time soon or I would need to remortgage the flat with a chunky deposit which would see me losing that depos amount of say 40-60k from being used on my actual family home, so the flat is looking like providing minimal gains over a very long period of time - not a great investment financially, its just difficult thinking about selling it because its cutting off any potential I had hoped to gain from it after 7 years of ownership, it would be as if I had just rented all these years so it would cement the fact that I have achieved absolutely nothing so far. think id rather torch it than sell it tbh unless sale price allowed me to gain some benefit rather than just handing it over for nothing. thanks
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    it would be as if I had just rented all these years so it would cement the fact that I have achieved absolutely nothing so far. think id rather torch it than sell it tbh unless sale price allowed me to gain some benefit rather than just handing it over for nothing. thanks

    I hope this chap is a fake because otherwise he's a public danger.
    Free the dunston one next time too.
  • ChumpusRex
    ChumpusRex Posts: 352 Forumite
    He's a contractor, working through a limited company. It's the companies income, of which he's a director and pays himself salary and dividends. The company pays tax on it, he pays tax on his income from it.

    It's all above board.

    However, by declaring only a small personal income, most of the money is not his, it's the company's. He therefore can't go buying a house with it without incurring massive tax liabilities.
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