Possible ?

chances

Looking at renting our current property and buying a house.

current lender will give consent to let, rent will cover mortgage easily

oh's Salary £35100 full time employed 4 years

my salary - self employed 8 years
09-10 £16600
10-11 £16600
11-12 No profit!!!
12-13 £16600
13-14 £16600 books currently with accountant but will be £16600

We will have a deposit of approx 30-35k
What sort of purchase price range are we looking at if we were able to purchase another property? if its indeed possible.

thanks in advance

ACG

£200-225k plus your deposit on top.
thats a bit of a ball park figure, it will depend on your circumstances/expenditure/term of mortgage etc. You may be able to go a little higher.

castle96

how is your profit thr same each year - just interested why

chances

Thanks ACG

currently wife has a 10k loan and car finance payments total £484 month, i have no debts. To be honest we are looking at houses priced between 150k & 180k as dont want a huge mortgage.

Also as it would be a 2nd house, will mortgage companies want a minimum deposit? ie 15% or could it be done with 10%?

Will i be better going through a broker? due to me being self employed


thanks again for your help

ACG

Haha... this is where you start adding bits.

I would suggest speaking to a broker where there is a second property in the background. Some will do 90%, others will limit to 75/80/85% so its important you or a broker does the research.

The loan will reduce down what can be obtained (assuming its still in place on completion).

zain8500

Yes, it is possible............

Angry_Bear

Have reported previous post as spam as it looks like the poster is just trying to build up post count for links.