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Additional borrowing
Loanadvice
Posts: 8 Forumite
Will mortgage companies lend for tax debt?
If you have good credit rating and the loan to value rate is 45%
And you can afford the repayments
If you have good credit rating and the loan to value rate is 45%
And you can afford the repayments
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Comments
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Some will, but many will not like it.
A broker will guide you through your options on this one.
Is this a situation where funds are required quickly?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 -
It has not been settled yet, so maybe 6-10 months.
The loan to mortgage 45% would be the amount after borrowing for tax. The loan would be for 12 years due to our ages.0 -
It has not been settled yet, so maybe 6-10 months.
The loan to mortgage 45% would be the amount after borrowing for tax. The loan would be for 12 years due to our ages.0 -
Thanks for the replies
Yes a mortgage broker can help and we have one now and are able to deal with it0 -
Hello everyone,
We have a 132000 mortgage on a 170k valued house with natwest and are applying for 10k additional borrowing in order to clear 2 credit cards which we have hanging over us. We have an offer in principle agreed as will only increase the mortgage monthly payment by 50 pound but effectively save us 400 pound of monthly. As I say we have an agreement in principle which includes a credit check as both me and wife are in the good category. Our income has also increased considerably since we started the mortgage a year ago but we are simply struggling to rid ourselves of the cards. I have sent off our bank statements and payslips but am panicking that for some reason this potentially life changing application (positive!) will be declined. Am I right to be Worried? We both have quite large overdrafts (2k and 1k on our accounts) which we hope to reduce quickly with the surplus money we save.0 -
Hi, Best to start a new thread rather than post on another. As makes for confusing reading.0
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Sorry wasn't sure how!0
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