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Mortgage transfer
Sinistro
Posts: 12 Forumite
I am writing on behalf of a friend. If I have a part-time permanent job and also work as a paid trainee. The annual income from both jobs is £25k, will the bank allow me to transfer the mortgage to just me in the amount of £116?
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Comments
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Presumably you meant £116K. ????
Amazingly, who'd have thought, different lenders, different rules & processes. And change over time. Your friend should ask (in writing) his lender.
I got a mortgage, expires at my age 83, with no salary (various pensions & savings mind..)0 -
There's not enough information. Lenders also take into account term, dependents, credit commitments, ground rent and service charge and so on...Sinistro said:I am writing on behalf of a friend. If I have a part-time permanent job and also work as a paid trainee. The annual income from both jobs is £25k, will the bank allow me to transfer the mortgage to just me in the amount of £116?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Depends what the property is worth as well. If it's a £500k property with £116k outstanding, you're more likely to get a Yes, than if the property is only worth £120k - they need to get their money back somehow. Affordability will be important - if you are a trainee shelf stacker that won't necessarily be as appealing as a trainee barrister (the ones who go to Court). In the end the computer will say Yes or No. I don't usually recommend them, but a broker might be best place to start.0
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That will be destist nurse practice, after I get full time contract. Property is worth around £220.0
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I've been dealt with by nurses I wished would desist.Sinistro said:That will be destist nurse practice, after I get full time contract. Property is worth around £220.
Presumably yu mean £220 K ??0 -
*dentist
Yes, £220k
One kid.0
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