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Want to borrow £300000!!
House_2
Posts: 3 Newbie
Help - Can I do this?
Want to buy a small house its £300000 in London
Have £20000 deposit. No debt.
Income of about £50000 per year.
Does anyone know who will lend me this on interest only?
Many thanks
Want to buy a small house its £300000 in London
Have £20000 deposit. No debt.
Income of about £50000 per year.
Does anyone know who will lend me this on interest only?
Many thanks
0
Comments
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Northern Rock might.
But you're still borrowing 5.5 times your income. And while you're only on an interest only where and how will you be saving the repayment aspect?0 -
There may be just a coupel of lenders I can think of that might go for this, but it will depend on your circumstances.
Anything else you could post on the board?I am a Mortgage AdviserYou 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.0 -
I managed to get a mortgage for 350 over two properties from Natwest. However they have been both business and banker of mine for over 3 years.0
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dont forget you will need to cover stamp duty, legals, arrangement fees, survey, insurance, broker fees, building costs, removals, etc."enough is a feast"...old Buddist proverb0
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There is lots I could post, but rather not could we chat via email?
Thanks0 -
Sure - click on my name and use the drop down to send an emailI am a Mortgage AdviserYou 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.0
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