Sinking like a ship! Please help!

flizzmo

Hello!

The mortgage is for 140,000 and the repayments are approx' 800 a month. And yes, my credit rating at the time was very good.

Can someone please confirm if I can take out this 6,000 by requesting it to the Mortgage Company - thus increasing my borrowing to 146,000? If accepted, how do I 'cash' this amount?

Thanks.

jonesMUFCforever

flizzmo wrote: »

Hello!

The mortgage is for 140,000 and the repayments are approx' 800 a month. And yes, my credit rating at the time was very good.

Can someone please confirm if I can take out this 6,000 by requesting it to the Mortgage Company - thus increasing my borrowing to 146,000? If accepted, how do I 'cash' this amount?

Thanks.

The mortgage lender will advance all the monies to your solicitor in time to complete the purchase.
You need to advise the solicitor to hold onto the extra £6k and tell him why.
It does not really matter whether you or the solicitor writes out the cheque to the family member as long as you get confirmation that is payment is full and total repayment of the outstanding loan.

flizzmo

Hey, thanks for the reply.

One very quick question though (for anyone reading this), can you advise as to whether or not another credit check will take place for this extra 6,000; how does this work?

Cheers

jonesMUFCforever

flizzmo wrote: »

Hey, thanks for the reply.

One very quick question though (for anyone reading this), can you advise as to whether or not another credit check will take place for this extra 6,000; how does this work?

Cheers

I would think so.

maninthestreet

What makes you think your morthage lender will be prepared to lend you an additonal £6000 for the mortgage. How much is the property worth you are going to buy, as shown in the surveyor's report?

flizzmo

Hello.

The property is valued at 218,000. The mortgage is for 185,000. There's a 15% deposit, for which I have 27,000. Albeit, the house price around the area has increased significantly in the past three months.

Thanks again.

wannabedebtfree_2

I am getting confused...............you said in the above post that your mortgage is for £185k, yet before you say its for £140k, even if you take the £27k from the £185k you end up with £158k, where is the additional £18k coming from?? And how did you manage to save up £27k without paying back your friend??

piglet29

hi, my daughter has found about today the hard way having been ripped off by these scam operators. she rang to dscuss a loan on saturday, paid the £49.95 fee, and was told she had been approved for a loan for £2,000, paying back £42.?? a month for 60 months. when the details arrived in the post it was still a loan for £2,000 but over 36 months for £75.?? a month. Also the loan company she rang was called " Tenantloans", but the loan details were with a company called "FLMloans". when she rang to query the points she was rather rudely told they were the brokers and it was not up to them to discuss anything to do with the loan,, she would have to ring FLM, when she did it was only to discover the flm tel no was the same as tenant loans, she became suspicious and after another upsetting phonecall totenant loans i rang them myself and was quite rudely spoken to as if i was a three year old, she has now contacted her bank to try and stop payment, she has written totenant loans explaining whe wants her money back within 14 days or else she weill be going to Watchdog about them and also trading standards!!! hope this works, she is a single parent and also in college at the moment so she needs every penny she can get!! not giving £50 to these shamming ba*********ds. sorry if this is a bit long winded but i a so angry at the moment once i started i couldnt stop!!!!:mad::mad::mad::mad::mad:

geoffky

Your Scum Pure And Simple Who Pray On The Poor.....leeches Who Suck On The Poor And Needy......and Your Apr Rates Should Be Criminal...

jonesMUFCforever

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