Welcome to the forum. Although you can post in any forum, the USA forum is here in case of local regs or laws

Mortgages

Status
Not open for further replies.
Don't just stick with one mortgage advisor, have a look at the mortgage market yourself, most of the deals these advisor's get you are open to you if you contact the relevant concerns yourself. You will pay less in fees.

Consider an offset mortgage, we have one of these, all your money goes in and your interest is calculated on the amount of money you have on a loan,

for an example: we have rental properties, two on mortgages,one on an offset pay about £200 per month, (no good for tax reasons, different story) the other same value house but on a repayment mortgage pay about £800 per month, both value of properties are the same.

Before you sign for anything do your research yourself, money supermarket etc.

For the best deal for yourself, don't be lazy and do what most muppets do and take what they're given. I'm lucky here my girlfriend loves doing this side of stuff.
 
Paid mine off four years ago, I was lucky though. Always over payed, never borrowed apart from work van. Did the house up myself when I could afford it. It's only an end terrace, but I don't see the point in getting a bigger house. Mines big enough, loft conversion, extension, double garage etc. you'd think times would be easy but kids and bills are horrendous these days. Mind you it does mean I can spend a lot more on my passion which is cars, don't even want to add up what I've spent on them.
 
The house we used to rent was beautiful. I rented it cheap off the same bloke who's lent me the money for the mortgage. So maybe he badly wanted us out!! LOL.

It was a detached country cottage, set in about an acre of land, with a big gravel drive and electric gates. He used to charge us £600 a month. Total bargain, but he didn't need the money. Bloke gets flown to work in a helicopter!

We lived there happilly for about 5 years. Which means it cost us £36,000. When we left, that was it. We handed it back and the money was gone.

At least with my much more humble mid terrace, 70's built house that we now live it.... When we have lived there for 5 years, I will have paid for a chunk of the house. I am personally happier here working towards paying the mortgage off and doing up my little house than I was lining the pocket of a landlord.
 
I've got a few years to go yet, but looking forward to the day when I can shut MY front door on the world, and not the banks front door.
 
vern said:
Should be sound then pal with 2 years slips, 2 of my mates who are SE can't remortgage as they want 3 years books, silly deposit or both! Days of self cert for a mortgage after recession and bankers frolics are well gone!
Click to expand...
Can probably put them in touch with someone. My mate paid someone a grand to basically fabricate 5 years books for him, got him mortgage no sweat
 
vern said:
Lol ain't that fraud:cyclist:
Click to expand...
Couldn't tell you how he does it or what is involved but I know he's been SE for 10 years and has now had a mortgage for 3, my other pal also done the same ring and has had a mortgage for about 6 years now and from about 15 to 25 he got paid cash in hand, he's 27 now!
 
There are ways round everything. Ill have my three years worth of books when I apply for mine. But won't have earnt enough in my first two years to get the mortgage I need. But I'll get it.
 
You're right Tom, I went to see mortgage adviser literally 3 months before recession, I even got offered a mortgage worth more than my house I wanted to buy so I could do it up etc and I thank the lord to this dy that I got blown out for no credit history because I was laid off 4 months later and didn't work fr about 3 months solid, not a day! This was when I fitting Ventilation fr a living and the firm I was subbing to laid off 40 blokes. Was very grim times and that is when I enrolled at y college to do plumbing on an evening course. Best thing I ever done and am aiming for my first mortgage by time I'm 30 an I've just turned 27. Will need a big deposit though. Where I live 10% is around £25,000 for a three bed
 
PlumbersMate said:
You're right Tom, I went to see mortgage adviser literally 3 months before recession, I even got offered a mortgage worth more than my house I wanted to buy so I could do it up etc and I thank the lord to this dy that I got blown out for no credit history because I was laid off 4 months later and didn't work fr about 3 months solid, not a day! This was when I fitting Ventilation fr a living and the firm I was subbing to laid off 40 blokes. Was very grim times and that is when I enrolled at y college to do plumbing on an evening course. Best thing I ever done and am aiming for my first mortgage by time I'm 30 an I've just turned 27. Will need a big deposit though. Where I live 10% is around £25,000 for a three bed
Click to expand...

If you had 25k round here you'd be a third of the way to buying one lol
 
SafeGasInstall said:
should not say that .....everywhere is better then London mate
Click to expand...

Aye I get you. My dad rented the cheapest flat in he could find in Staines last year, and for that money here he'd have got a mansion. Plus, it's not full of southerners 😉
 
Status
Not open for further replies.

We recommend City Plumbing Supplies, BES, and Plumbing Superstore for all plumbing supplies.

Back
Top