Looking for a 170K on a 220K house, no proof of income on my side (Although around 45K) with iffy credit rating / wife - perfect rating with 25K PA.
Can it be done?
Trev
- posted
17 years ago
Re Mortgage
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- Vote on answer
- posted
17 years ago
Most likely, yes.
- Vote on answer
- posted
17 years ago
OK - how about.......
160K on 170K house with proof of income and salary of around 44K. Single application and excellent credit rating (I suspect), but have a 305 a month loan repayments repyable for another two years. The difference between the 170K and 160K is cash deposit. Not interested in buying, but am covering my options as I'm considering dumping long term partner and buying own place and want to know how likely I will be to be able to afford a place should I leave tomorrow. No other credit borrowings and no other committments (ie, kids, etc).- Vote on answer
- posted
17 years ago
Easily. Speak with an independent mortgage adviser.
- Vote on answer
- posted
17 years ago
As per the other chap, this can be easily done. Even taking into account the loan payments, you're only looking at an income multiple of about 4 times your income.
Speak with an independent mortgage adviser, make sure they look at the whole of the market and don't use a panel.