Mortgages 101

[yasockie]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

[TheFaQQer]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

Entitles you to nothing. You may be eligible for something though.

[Pondlife]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

This is going to end in tears.

[Old Greg]

This is going to end in tears.

Yes, he has already used '/' in addition to 'p', where one of them is clearly superfluous. I wouldn't lend money to someone like that.

[SueEllen]

What's your deposit?

Have you done a budget planner?

[Old Greg]

What's your deposit?

Have you done a budget planner?

And how often do you intend to bleed your radiators?

[Martin@AS Financial]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

This will depend on what your deposit is but more importantly, what is affordable to you on a monthly basis after calculating all essential outgoings.

As a contractor, you have 2 options. Firstly you can either work off your limited company salary and dividend figures or net profit and salary depending on which bank you approach. The second option is to work off your daily rate. Lenders that are sympathetic to contractors will take your daily rate - multiply that by a 5 for a 5 day week and then multiply that by 48 to assume you give yourself 4 weeks off a year.

[MaryPoppins]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

Ah, well. The 'London' daily rate [per day] would make all the difference.

[Old Hack]

Up to 600k

[nomadd]

Yes, he has already used '/' in addition to 'p', where one of them is clearly superfluous. I wouldn't lend money to someone like that.

P-p-p-per day.

Boy has a stammer. Leave him alone, you bully.