We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Car Lease end and New Build Timeline
Alphabet89
Posts: 21 Forumite
Hi all,
I have a car on lease which finishes in september 2016.
Having run the affordability calculators, i won't be able to get required mortgage with this lease however:
New build property i'm looking at is not due to be completed until Nov/ Dec 16- lease will be finished and i will be purchasing a replacement vehicle outright.
With new builds i could be exchanging prior to the lease being finished. Are there any recommendations? i.e wait for the lease to be within 6months of finishing or even 3 months?
I'm using HTB scheme so developer is keen to not commence these proceedings until within 6 months of completion- in case government were to ever withdraw HTB. Sensible move.
Thanks for anticipated responses.
I have a car on lease which finishes in september 2016.
Having run the affordability calculators, i won't be able to get required mortgage with this lease however:
New build property i'm looking at is not due to be completed until Nov/ Dec 16- lease will be finished and i will be purchasing a replacement vehicle outright.
With new builds i could be exchanging prior to the lease being finished. Are there any recommendations? i.e wait for the lease to be within 6months of finishing or even 3 months?
I'm using HTB scheme so developer is keen to not commence these proceedings until within 6 months of completion- in case government were to ever withdraw HTB. Sensible move.
Thanks for anticipated responses.
0
Comments
-
Lenders will generally discount finance arrangements that are a few months from finishing.
They may wonder what your plans are for transport when the lease finishes.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards