Need to get myself together: The beginning

abba1772 · 4 May 2018 at 11:03PM

It's moving forward and thsts the main thing mins try and have a relaxing weekend xx

monz · 8 May 2018 at 8:31AM

Morning. Had a good weekend. Was not spendy yay lol!

Had a chill one mainly and saw my friend and her baby

Hoping this week everything is sorted (fingers crossed)

Joined Slimming World also. My weight gain has been shocking but think its due to this year stress and everything been eating everything in sight

but joined to give myself a kick up !!! and also done shred last night. Got a new Jillian Michaels DVD her new one sent from America due this week so will try that.

Got my £45 amazon voucher for a survey I done and will get my microwave

. Also got £20 argos vouchers so will get a kettle and iron lol oh my days when I know I am getting old being excited over these free buys :P

pay day is 23 days away and money is not so bad since I have become anti social going out lol xxx

abba1772 · 8 May 2018 at 9:37AM

I love buying house stuff

I'm itching to get back to my 30 day shred but can't until after next weekend when I get the all clear from the eye doctor xx

monz · 9 May 2018 at 9:43AM

I got news about the mortgage, it was approved but before yays and that here is the scope of it

As its "concrete build" only letting me get 80% mortgage aka I have to add additional £8k, I asked my mum and she ranted abt how I been on holidays swanning off to Flrida and now Spain in cpl months and Belfast to see my cousin basically not a chance.

I have (after lawyer fees) £5k I can pay extra. Do you think if I get a loan with RBS this would be ok? Or would it not be allowed.

Means I wont have anything for house. I can get furniture I have in flat and means a cpl months without an over (I will have a microwave though) but will work hard doing what I can each room when I do get paid and still strip walls etc over summer and when I can buy paint I will do each room.

I dont know if its allowed. Thank you Dolly listening to my tears and that over phone during texts

I have applied for other loans last night just in case . Santander/ RBS/ Halifax and Virgin Money xxx

UncannyScot · 9 May 2018 at 10:05AM

I'm not sure how these things work tbh...
Not got good experience when it comes to home ownership and mortgages etc.
Personally, I would steer well clear of RBS, I know a lot of folks who were dropped in the s*** by them... myself included...

I'm sure it will work out for you, cut back where you can / should and you will manage it. You have done it before and you can again.

Main thing is to do what YOU can afford to do.

BIG (((((HUGS))))) to ya missus

YOU will get there

[Deleted User] · 9 May 2018 at 10:39AM

Hi Monz,

Grr to your mum but I guess you were kind of expecting that :mad:

Not too sure how things work, could they add the £8K to the mortgage as a loan??

I have every faith that things will go your way, you've fought long and hard for this.

Big hugs lovely, here if you want a rant xx

monz · 9 May 2018 at 10:53AM

My dad was great was like you know we will help dont worry about it and my mum came shouting on phone worst daughter etc....

I will ask her on Friday shes off until then. Or ask RBs last resort. Also applied to other mortages now too

xxx

kindofagilr · 9 May 2018 at 12:40PM

Hugs Monz

You technically aren't supposed to get a loan I heard, but we ended up having to as well as the mortgage company decided to not let us have as much as they originally said they would, so we got a loan for £5k and it all went through fine xx

monz · 9 May 2018 at 2:01PM

oooo did you!!! this was exactly what I was needing to hear!!!

xxx

JoJoC · 9 May 2018 at 2:52PM

You need to be really careful about the legal side of getting a loan to finance a deposit on a house - you're not supposed to and I think they can reject you based on that.

We were considering getting a loan to finance the deposit on our house because we couldn't sell the flat (negative equity) but we were told by financial advisor and lawyer that the underwriters of the mortgage will ask for proof of your deposit and will look into your bank statements to see where that money is coming from. If you can prove you've had it in your bank account all along, no problem, but if they see a big loan deposit from a bank they could reject you.

What we did in the end was get my parents to take the loan out in their name then 'gift' it to us (they had to write and sign a letter to prove that it was a gift and not a loan) and then we paid them back every month starting from when the mortgage was complete (i.e. so it didn't show up on my bank accounts a regular payment to my parents every month in case they asked for more statements or anything).

I'd be really careful and seek some advice before you make any moves here.

Sorry, i don't want to scare you but i'd hate to see it all fall through because you moved quickly on the wrong thing. Have you got an independent financial advisor? Maybe talk to them about whether you should try for a different mortgage or try to find a solution with the offer you have.

Also, check with the lawyer what proof the lender will require on the source of your deposit etc.

Hopefully when you speak to your parents again they'll be more understanding and less abusive (sorry) because I think that'll be the easiest way to get round this.

I'd also hang fire on applying for loads of loans and mortgages all at once because that'll well and truly raise red flags on your credit file etc.

Take deep breaths and come up with a plan!

Need to get myself together: The beginning

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free