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Mortgages - Yawn.

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    Mortgages - Yawn.

    Greetings wise ones,

    I've done a quick search and found this thread:

    Mortgage Thread

    , but I was wondering if anyone can add any further advice? Just so you know I've worked under a brolly from Oct 08 -> Sept 09, have been limited since Oct 09. Current contract is until end of March. 'Only' looking for £140K with a ltv of about 35%.

    I've had zero joy so far, although I did have a very pleasant chat with a chap from Indian last night.

    P.s. Rather embarrassed that I can't buy it cash like all good contractors - such are the times.

    #2
    Originally posted by The_Equalizer View Post
    Greetings wise ones,

    I've done a quick search and found this thread:

    Mortgage Thread

    , but I was wondering if anyone can add any further advice? Just so you know I've worked under a brolly from Oct 08 -> Sept 09, have been limited since Oct 09. Current contract is until end of March. 'Only' looking for £140K with a ltv of about 35%.

    I've had zero joy so far, although I did have a very pleasant chat with a chap from Indian last night.

    P.s. Rather embarrassed that I can't buy it cash like all good contractors - such are the times.
    That thread refers to using ContractorMoney who I have used in the past. Have you tried them?

    Comment


      #3
      Abbey

      I got one with Abbey -they approved on the spot. No contractor questions asked. Don't bother with contractor mortgages. You can do what they do yourself and save £500 in the process.

      Comment


        #4
        Originally posted by oracleslave View Post
        That thread refers to using ContractorMoney who I have used in the past. Have you tried them?
        On today's list of things to do. Looks like it's the only way to go, although people spoke of going direct to the Woolwich. Wondering if anyone has managed to get a mortgage direct.

        Comment


          #5
          Originally posted by DocP View Post
          I got one with Abbey -they approved on the spot. No contractor questions asked. Don't bother with contractor mortgages. You can do what they do yourself and save £500 in the process.
          Cheers. They are now on today's telephone list too.

          Means I may join the ranks of those who live in South Manchester. Well it's better than living in that tulip hole that is London!

          Comment


            #6
            If you are finding it very difficult to arrange a mortgage and given the LTV amount you're after would it not be possible to get a bridging loan and then arrange a secured loan on the property once you are in possession?
            Coffee's for closers

            Comment


              #7
              I used First Direct and they were happy with 2 years net profit figures. In your case, you'd be looking at proving salary with the brolly, which I assume would be healthy?

              Contractormoney were more expensive both times I went looking for a mortgage...

              HTH
              Older and ...well, just older!!

              Comment


                #8
                Originally posted by ratewhore View Post
                I used First Direct and they were happy with 2 years net profit figures. In your case, you'd be looking at proving salary with the brolly, which I assume would be healthy?

                Contractormoney were more expensive both times I went looking for a mortgage...

                HTH
                The brolly salary was healthy enough and limited salary/divs are good too, although yet to take any divs. The stumbling block is that fact I've only be a ltd for a few months.

                Ironically I've got a friend who would be very keen to rent a room which would cover about 80% of the mortgage cost/month plus a few months war chest, oh plus plan B which would keep me more or less ticking along in beer and baked beans. Unfortunately none of that helps.

                Wouldn't even consider buying a house right now, but this one is special (to me).

                Comment


                  #9
                  Originally posted by The_Equalizer View Post
                  On today's list of things to do. Looks like it's the only way to go, although people spoke of going direct to the Woolwich. Wondering if anyone has managed to get a mortgage direct.
                  I did - Woolwich. Easy.
                  ______________________
                  Don't get mad...get even...

                  Comment


                    #10
                    Originally Posted by The_Equalizer

                    Condolences btw - RIP
                    ______________________
                    Don't get mad...get even...

                    Comment

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