Buying our first house at the same time of a redundancy

Slithery

Diocletian_II wrote: »

Presumably, if the OP follows the lead you are encouraging, and encounters problems, you will stand shoulder to shoulder with him, and cover any financial losses, too?

I wasn't encouraging anything, just sharing a personal experience. If the OP finds a new job in a few days and it's still before they exchange then yes, I would fully stand by them as they wouldn't have any financial loss.

Nowhere in my post did I suggest that they exchange before full disclosure to their lender.

babyblade41

Diocletian_II wrote: »

Committing mortgage fraud is both senseless and immoral, but many posters here are encouraging it.

It does make one question the quality of advice given on internet fora.

..but you are a cash buyer so I wasn't aware you know how the mortgage system works


You keep saying you question the people on this forum, which makes me wonder why you are still here asking peoples opinions when you value them so lowly

System

You pointed out that your lender had no problem with you doing the same thing. That sounds like encouragement to follow your lead.

System

I had a mortgage on my fist two places. I never did mortgage fraud though.

I have learned since coming here that advice given on MSE can be very poor, and could get people into serious trouble, as reflected in this thread. People need to be warned about the poor advice.

System

What I find most disturbing about MSE is that posters are encouraging the OP to commit mortgage fraud, but when someone points out mortgage fraud is senseless and immoral, that person is attacked by other posters. This website ought to be on the Dark Web.

AdrianC

Umm, Diocletion... What "mortgage fraud" - and, indeed, what encouragement - has got you so exercised?

babyblade41

Diocletian_II wrote: »

I had a mortgage on my fist two places. I never did mortgage fraud though.

I have learned since coming here that advice given on MSE can be very poor, and could get people into serious trouble, as reflected in this thread. People need to be warned about the poor advice.

If that is your opinion, might I suggest you possibly go elsewhere to get advice.

You obviously have FA's to help you with your cash dilemma and wish to be totally risk free so maybe "webuyanyhouse.com" forum if there is such a thing.

I would imagine it would have lots of links to cheap properties that belong to owners in desperate need to sell with such cash liquidity like your good self .. totally free of risk and hey presto you are one happy bunny ,

You can then leave MSE's forum non experts to give really poor advice to those that ask

System

AdrianC wrote: »

Umm, Diocletion... What "mortgage fraud" - and, indeed, what encouragement - has got you so exercised?

The mortgage fraud that has been discussed in this thread. I suggested the OP should be honest and should take legal advice from their solicitor. I was attacked by some posters for this encouragement. Posters have been urging the OP to go ahead regardless. It is plain wrong for posters to encourage the OP not to take the honest path. That kind of advice should be limited to the Dark Web, not a family forum.

Arklight

Diocletian_II wrote: »

The mortgage fraud that has been discussed in this thread. I suggested the OP should be honest and should take legal advice from their solicitor. I was attacked by some posters for this encouragement. Posters have been urging the OP to go ahead regardless. It is plain wrong for posters to encourage the OP not to take the honest path. That kind of advice should be limited to the Dark Web, not a family forum.

You're making miles out of this that simply isn't there. OP is borrowing money from HSBC to buy a house with, which he will use to buy a house. A house which will become their house if he can't pay them. After they have deducted their many and substantial fees for the inconvenience of entering some numbers on a spreadsheet.

This scenario isn't even especially probable as two able people will find a way to pay a mortgage somehow. The risk is that they will pull the mortgage because of his partner's job.

System

Arklight wrote: »

You're making miles out of this that simply isn't there. OP is borrowing money from HSBC to buy a house with, which he will use to buy a house. A house which will become their house if he can't pay them. After they have deducted their many and substantial fees for the inconvenience of entering some numbers on a spreadsheet.

This scenario isn't even especially probable as two able people will find a way to pay a mortgage somehow. The risk is that they will pull the mortgage because of his partner's job.

The issue may indeed be no problem, but the OP should first discuss it with his solicitor to confirm that. The very fact that posters want him not to discuss it with his solicitor means they want him to do something they think may be dishonest.

The bigger question is why posters want the OP to do something they think may be dishonest?