buying new property

esne12

Thanks for any help.
My partner owns 2 properties

home - £230k - Around 60k equity
BTL - £175k Around 40k equity

So we have approx 100k deposit. She has just started a new position in family business on a yearly salary of 84k

We are looking for properties in the 450-500k range.

Can anybody offer advice on the best way forward please...

cjv

Best way forward is probably to contact a Mortgage broker and go through your circumstances in detail, see what they come up with.

AnotherJoe

When you say you have £100k deposit do you mean you have that in cash, or is that the 60k + £40k ? And do you propose to sell those two ?

esne12

yes we are selling 2 properties and using the 100k from the sale of both..

MortgageMamma

You will have selling fees to factor in

The estate agents fee x 2 including VAT
The legal selling fees for both properties
Fee's to empty both properties and possibly put belongings in storage until you can move, otherwise you could be in a lengthy chain waiting for two properties to sell so you can complete on yours and that could put potential buyers off.

With regards to the mortgage, you do need advice as your partner works for a family firm, some lenders are not comfortable with this, some will be fine but insist on further checks to ascertain the long term viability of your partners salary and the financial health of the business before they would be happy to offer a mortgage

Do you work?