Best Remortgage restucture - Open table

markdirect

Hi

Where to go to get a pre approved remortgage . Self Cert basis as 14month new business start and income streams preferred kept confidential at this time. So need to certify myself and have accepted . Need a remortgage for £46- 47k max but £15k my max I will sign off anyway.

I dont want to pay much more than £300 pm on repayment mortgage .
The term therefore 25 years. Criteria must clear a 68 year remaining lease and aging 42 male (67 at end term if 25 yrs)

The endowement is not part of the deal as this has been already set aside for £24.2 on letter of no further interest. Property bought for 48.1k and worth 125k 2007. LTV = 46.5/125. My debt/income ratio is (300+50)/1250 = 28% at best.

Feel I want to move now cause of the interest I'm paying on £46k and likely hood of mass hike up on libir variable interest and lender who feels it un necessary to confirm any mortgage paticulars . Need to move fairly quickly .

Cannot afford to put myself at more risk of a failed application via incorrect processing error as the damage then done. So really wanted to pre qualify approval. I can verify most requirement factually by obtaning the relevant record filed and providing as evidence. I never state anything unles this can be factuallly supported. I wouldnt so you don't ! . Let check each other.

Dont want to be rejected by lender using own method as an unknown. O tracker interest rate + margin wanted as I not signing for a svr ever again and want a no tie in , setupcost , close cost etc etc which are reasonalbe spread over the 25 years equally .

Basically put the real costs in the interest (up front no hidden !!!!!!!!) . The other option is with some setup cost budget (£1250.00 allin inc my costs - is this reasonable) as I may have a claim for reimbursement.

One last request . I have need to increase income streams and have designed to bedrooms by replanning whole interior . Also improves property. I would prefer to remortgage on a buy let precedence but something tells me no. Can this be built in at controlled costs A rent a room option . Estimate best annual retunr 3 to 4k as a part student let.
Lender must not have a problem here as flexibiltity advantagouse because this will be the only move. commercially let maybe or let rooms basis . But dont want my desire over complicate the urgent need to restructure.

One last thing I will not be doing anything if I recieve any urges to increase my debt . especially with silly fees for pre approval wink wink. As I hope the facts are reasonalbe. for sortinh. O big apologies for any sarcasm or mis-guided plans . I really need this to happen so please assit .
PS The sold endowemnt will be used to reduce repayment capital to thereon reduce interest charges. All sums now diverted when free to pay prinicipal. Option final 1 .

The alternative my preferred not sure it might be cause of the cash to handcraving) Cash endowement and offset to mortgage amounts to reduce interest chargable freeing more cash to pay loan , The plus is cash lump sum kept as separate pot. Else all eggs in one basket - the flat - feels dodgy especially on an expiring leasehold. If only I could somehow utilise equity sitting doing nothing like a security charge. (10k to extend lease to 158 years on offer) .

I actually would love to sell tomorrow but where to leave as once off the ladder without big incomes its going to be hard to get back to the semi I wanted round the corner for £220.

Thats it

Sorry for spelling errors and going on and on but feel better for getting out in the open. Why im I struggling to do the deal. maybe I except to much Can someone give me perspective

back soon

mark