Who will lend me £245,000

CONCHO_2

Ember999 wrote:

Meanmachine,

If they get into problems (which they will with a mortgage that size!) how do Northern Rock lose? Northern Rock reposess, sell at auction and get most of their money back. It's the original poster who gets black-listed to hell and back with a bill the size of a house to pay if his reposessed house doesn't sell for enough at auction etc. Credit ruined, unable to ever get a mortgage again, homeless etc. Northern Rock chasing him forever for monies owed. Building Societies/Banks never lose out, you don't pay, you lose your home...

Jesus you two are so cross! Has someone dealt you a bad hand in life or something? Its just a mortgage its not the end of the world! So much anger. Thanks for nothing guys, hopfully someone else will look at this thread apart for you two, cos are no help at all. :T

Ember999

CONCHO wrote:

Jesus you two are so cross! Has someone dealt you a bad hand in life or something? Its just a mortgage its not the end of the world! So much anger. Thanks for nothing guys, hopfully someone else will look at this thread apart for you two, cos are no help at all. :T

Now that is where you are wrong my friend, I am not cross, I am a happy person and with good reason to be! I am financially affluent, sucessfully married for 18 years and move into my dream cottage in 2 weeks time. I've hardly been dealt a bad hand in life LOL...but there again, you make your own luck in this world and I wouldn't dream of doing what you are proposing.

I gave advice to warn you of the pitfalls of what you are doing. It seems you don't like good advice so I won't offer it again. It's a shame you feel the need to be nasty just because people on here don't agree with the stupidity of your wanting to get such a high mortgage in today's financial climate. But, as you say, it's your life, your choice, I hope it works out for you.

Ember xx

elona

There is the well known adage that "anyone who disagrees with me must be a fool or bad".

No-one is trying to make the OP feel small - or trying to tell him how to live - but it is human nature that if you see a disaster about to happen - you try to warn those in danger.

CONCHO_2

elona wrote:

There is the well known adage that "anyone who disagrees with me must be a fool or bad".

No-one is trying to make the OP feel small - or trying to tell him how to live - but it is human nature that if you see a disaster about to happen - you try to warn those in danger.

Bit dissapointed with this forum now, maybe I should have gone to the samaratans. I wanted advice about what my options are not what they arnt!
I know the risks in mortages etc, I'm not a child, if I wanted negative advice I would have asked my Dad! Don't think Martin Lewis would agree with the advice you are giving me! After all my original question was "Who will lend me £245,000, Not please try & talk me out of moving and borrowing some more to do it!

LouLouHelen

Standard Life Bank offer that type of level, they have an affordabilty calculator on their website. The longer the term of the mortgage the more they will lend you so play around with the figures.

All the life lessons aside , if you are increasing your mortgage by a far bit just make sure that you can afford it if/when to go up by 1 or 2%.

Hope this helps.

CONCHO_2

Cheers for that its appreciated!

Edinburghlass_2

CONCHO wrote:

Bit dissapointed with this forum now, maybe I should have gone to the samaratans. I wanted advice about what my options are not what they arnt!
I know the risks in mortages etc, I'm not a child, if I wanted negative advice I would have asked my Dad! Don't think Martin Lewis would agree with the advice you are giving me! After all my original question was "Who will lend me £245,000, Not please try & talk me out of moving and borrowing some more to do it!

Please don't be disappointed with the forums on this one experience. You posted on the correct board and should have been given advice regarding your question.

Why not go and see an IFA for advice regarding this mortgage, they should be able to tell you the current offers and your options

margaretclare

Ember999 wrote:

Now that is where you are wrong my friend, I am not cross, I am a happy person and with good reason to be! I am financially affluent, sucessfully married for 18 years and move into my dream cottage in 2 weeks time. I've hardly been dealt a bad hand in life LOL...but there again, you make your own luck in this world and I wouldn't dream of doing what you are proposing.

I gave advice to warn you of the pitfalls of what you are doing. It seems you don't like good advice so I won't offer it again. It's a shame you feel the need to be nasty just because people on here don't agree with the stupidity of your wanting to get such a high mortgage in today's financial climate. But, as you say, it's your life, your choice, I hope it works out for you.

Ember xx

I agree with Ember and meanmachine. Like Ember, I'm happy, I'm reasonably well-off, and the advice I give (sorry it's not wanted) is from a lifetime of experience. Which you might get from your Mum and Dad just the same!

I agree with others, there is no need to be nasty, and there is also no need for blasphemy.

Margaret Clare

meanmachine_2

Concho, I gave you information about a) a provider who will lend you what you want and b) exactly the multiple they might be prepared to give you.

How did I fail to give you the advice you wanted?

I also took the time to put this advice into context and suggested it was crazy.

Five years ago you'd have been lucky to get 3.25 a single income and 2 times a joint income.

But then I'm old fashioned.

Do you treat your parents with this same contempt? Or do you brush off their advice in the same manner?

By the way, if you want advice on reckless borrowing, go visit moneywastingexpert.com instead.

Good day sir!

meanmachine_2

CONCHO wrote:

Don't think Martin Lewis would agree with the advice you are giving me!

Well that's for him to comment, but I think Martin Lewis would support responsible borrowing.

I should imagine he'd suggest only borrowing what you can afford now and if interest rates should rise.

If you think your proposed borrowing fits these criteria, then go ahead.