6K loan towards flat purchase
Comments
-
Thank you for your suggestion however I feel I am capable of entering a debate or discussion, for example in post 3 where I provided some (hopefully) useful advice to the OP.
You joined the discussion seven posts later with the perfectly understandable assumption that the 50K was their deposit. I politely advised in post 11 that I believed the £50K was their intended purchase price and not their deposit.
For whatever reason since then you have decided that rather than accepting that you may have simply misunderstood the original post based on the evidence from the OP which I re-quoted in post 15, you would instead focus on demanding I provide evidence of house prices across the UK in order to disprove my assumption. Evidence which I have since provided.
Until the OP returns and clarifies their situation we will remain at an impasse on this matter, so I will leave this thread for now and leave the other forum members to draw their own opinions.
I entered the discussion with a question, regardless of how many posts preceded. You provided Middlesbrough, and nothing else.
You seem to be more bothered about me than the actual discussion....0 -
List of cities where you can buy a place for £50k please...
You entered the discussion with a sarcastic and dismissive post that had no relevance, and wanted people to run about and convince you of something you could have done yourself.
The OP has already found a city to move to with £50k property, so they don't care if you need it proven. You still haven't added anything to this discussion beyond taking it wildy off topic.
In an attempt to bring it back on-topic; you should be able to get a £6k mortgage, or get a slightly bigger mortgage (if that's the minimum) and overpay it down to nearly £6k. It's pretty low risk for a mortgage lender because you've got £50k equity.0 -
Getting back on topic - why not ask for a car loan and then decide you'd like to put it towards a flat instead?
Yes it's dishonest but I've never known a bank to want to see the car you've bought.0 -
You entered the discussion with a sarcastic and dismissive post that had no relevance, and wanted people to run about and convince you of something you could have done yourself.
The OP has already found a city to move to with £50k property, so they don't care if you need it proven. You still haven't added anything to this discussion beyond taking it wildy off topic.
In an attempt to bring it back on-topic; you should be able to get a £6k mortgage, or get a slightly bigger mortgage (if that's the minimum) and overpay it down to nearly £6k. It's pretty low risk for a mortgage lender because you've got £50k equity.
Yeah, wildly off topic (not wildy, that might compromise your Google search if you spell it like that).
Asking about what cities you can get a property for £50k in a post where the OP enquires about cities where you can get a property for £50k.
All you needed to do was list a few but you were more bothered about my so-called sarcastic attitude, rather than list some cities, apart from Middlesbrough.
Its good however that you attempted to bring it back on to topic at the end here. It appears that you have unchipped that shoulder of yours to some extent.0 -
-
You entered the discussion with a sarcastic and dismissive post that had no relevance, and wanted people to run about and convince you of something you could have done yourself.
The OP has already found a city to move to with £50k property, so they don't care if you need it proven. You still haven't added anything to this discussion beyond taking it wildy off topic.
In an attempt to bring it back on-topic; you should be able to get a £6k mortgage, or get a slightly bigger mortgage (if that's the minimum) and overpay it down to nearly £6k. It's pretty low risk for a mortgage lender because you've got £50k equity.Yeah, wildly off topic (not wildy, that might compromise your Google search if you spell it like that).
Asking about what cities you can get a property for £50k in a post where the OP enquires about cities where you can get a property for £50k.
All you needed to do was list a few but you were more bothered about my so-called sarcastic attitude, rather than list some cities, apart from Middlesbrough.
Its good however that you attempted to bring it back on to topic at the end here. It appears that you have unchipped that shoulder of yours to some extent.
The OP never once inquired about cities where you can get a property for £50K.
You were the only person who ever asked that.
Also you have replied to someone completely different believing them to be me.• The rich buy assets.
• The poor only have expenses.
• The middle class buy liabilities they think are assets.
Robert T. Kiyosaki0 -
OP here. Yes, the 50K would be the full purchase price. And yes, there are many regions in the UK where this is possible, if you are only looking at 1 bed flats, which I am. It is not however possible where I live now. I also know a few people living in this city and have been there, got a reasonable chance of work, which is more than I can say about many cheaper places in the UK. The problem is I would have to buy in one of the less salubrious parts of the city. Now it has become reality, I am getting nervous. And greedy.
Yes, 20K in five years is not very impressive I know. But the inheritance was a game changer. Initially I was just saving not to be broke. I have been paying for food, bills, council tax, car. I will not have to have a car in the new place.
So, I need to talk to a broker, and try and see if I can get a minimum mortgage, then pay down what is in excess of what I need? This is my takeaway so far. So I suppose I would have to move first in order to do this? Part of my issue is also wondering what order to do things in.0 -
I think 20k in five years is impressive. I couldn’t save that amount!!! That’s 4K a year!!!0
-
So, I need to talk to a broker, and try and see if I can get a minimum mortgage, then pay down what is in excess of what I need? This is my takeaway so far. So I suppose I would have to move first in order to do this? Part of my issue is also wondering what order to do things in.
You will get the mortgage when you buy the new house. Do you have a job in the new place?0 -
So I suppose I would have to move first in order to do this?
You should be able to get a mortgage offer (usually good for ~3 months) before you put an offer in on the house you're looking to buy. Just go to the bank with the listing and all the details, they'll give you an offer, you then buy the house and have the mortgage paid out on completion (via your solicitor).0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards