Mortgage

[Masons]

You only have two years accounts?

How long have you been window cleaning?

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[All Round Cleaning]

Lol my rent is £82 a week and we think thats expensive lol .

We will probably buy ours to part ex for a new house later on will be cheaper than our rent lol .

 

[chris]

thats the thing I haven't a clue . I heard the bigger deposit the less you pay monthly but I'm not sure

youd pay less per month because your borrowing less cash. Just hope you find one and don't have to pay crazy rents much longer

 

[HotWash Window Cleaners]

Help to buy government scheme, they will lend to anyone with deposit

 

[Neil]

You only have two years accounts?

How long have you been window cleaning? Been window cleaning 9 years mate but on my own 2

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[Smurf]

Is that not just new build?

Help to buy government scheme, they will lend to anyone with deposit

 

[Neil]

Is that not just new build?

i think it is mate

 

[M.K Cleaners.co.uk]

Is that not just new build?

To start with it was not any more tho

 

[nwcs]

About 5 year ago if you had a big deposit like 20%

You could get a mortgage been self employed.

Now with whats gone on you will need at least 4/5 years of good books/accounts.

And a big deposit.

If you have 30% or more to put down you may get away with only having 2 years accounts.

But most mortgage companys wont touch you.

Go see a mortgage advisor. Its free and they will check to see witch companys will deal with you if any.

The moral of the story is buy a house before going self employed. ....!!!

 

[norm]

When the mortgage rate rises from 1-2% it is now to 4 -5 times that in 5 or so years the **** may hit the fan.The low rates arent going to be here forever. They reached 13-14% 20 years ago The banks want our money :Image15: . Have bonuses to pay to there hard working bankers

 

[shazzy692002]

I think the low rates will be here for a few more years. My mortgage is well low cos of it...but could triple if they did rise.!

Normally banks will lend you 4 x your wage(there all different). so £25k a year you could borrow 100k.

My mortgage cost me about £215 a month, on a 65k mortgage. but I am only 1% above the bank of England interest rate, My house is worth £230k so I have enough collateral to keep my payments low.

Deffo worth speaking to a financial advisor, they are not free as such, as they will try and sell you products, plus they would get paid from any lender. But free to you.

 

[norm]

Nice one Shazzy unlike yourself a lot of people in N.Ireland are in negative equity they say 1 in3 homes. House prices here still dropping so if bank rates rise fast and u cant pay your morgage payments and selling your house wont cover your morgage loan oh oh you are in the brown stuff

 

[nwcs]

I think the low rates will be here for a few more years. My mortgage is well low cos of it...but could triple if they did rise.!

Normally banks will lend you 4 x your wage(there all different). so £25k a year you could borrow 100k.

My mortgage cost me about £215 a month, on a 65k mortgage. but I am only 1% above the bank of England interest rate, My house is worth £230k so I have enough collateral to keep my payments low.

Deffo worth speaking to a financial advisor, they are not free as such, as they will try and sell you products, plus they would get paid from any lender. But free to you.

Nice one shazza.

If I was you I would be paying lump sums off at the end of each year so then you pay it off loads quicker.

Thats what ive done and mines about paid.

 

[shazzy692002]

Nice one shazza.

If I was you I would be paying lump sums off at the end of each year so then you pay it off loads quicker.

Thats what ive done and mines about paid.

I know that's the way forward, but I really like my holidays. lol. I do spend to my means!!! I still have 24 years left on it to, as was a 30 year mortgage...I think I should take my own advice and get a financial advisor....

I do actually save in a isa, so maybe that could pay it off one day. (I put more in the isa than what I pay off the mortgage). But the ica is giving me about £17 per month interest. Not sure what is the best way to do it really?.

 

[Tuffers]

I was due to finish my mortgage forever this month. Crappy endowments put paid to that. I'll be paying a mortgage until I'm at least as old as Smurph I reckon.

 

[norm]

I got screwed on that one too

 

[Gmeister]

Endowments?

 

[norm]

Paid interest only off mortgage.Rest of your payment went stock market at end of term of mortgage supposed to pay rest off with what your endowment/investment had made.and a nice sum for yourself

Of course banks being banks in the middle or near the end of this began to say there might be a wee prob on return you get on your investment. Year or two later warning you might be a shortfall. Then another wile offering you another endowment cus your mortgage aint going to be paid at the end suckers