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    • Beechy74
    • By Beechy74 7th Jan 18, 9:22 PM
    • 1Posts
    • 0Thanks
    Residential Mortgage
    • #1
    • 7th Jan 18, 9:22 PM
    Residential Mortgage 7th Jan 18 at 9:22 PM
    Good evening.

    Ive been reading throughthe forum and i think residential is what i'm after. I'm looking at buying a property for 60k. I own one home outright through the right to buy scheme that my mum lives in. Im currently living in a rented house. However, ive been self employed 3 years and my second years tax return was around 3k due to buying a vehicle for 17,000.

    I could easily put down a 20k deposit and the home i currently own outright is worth about 80,000.

    Would a bank touch this even though last years tax return states around 3,000 earnings? Or would it be best to wait a few months for when 2016/2017 tax returnis are due which would be about 20,000 earnings?

    So what im asking is could i borrow around 45,000 solely set against the property i own, or will last years earnings suggest ''on ya bike''?

    I hope that makes sense,

    Many thanks
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