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About yug222001

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  1. Hi, Sorry to hear your mortgage was declined. Most lenders will require the property to be ready for let within 30 days. They will also assess the works required to get the property to this standard, they do this by categorising the level of refurbishment needed. New floor coverings along with decorations would be fine with the majority of lenders, however, lenders can get nervous when you are looking at new new kitchen and bathroom suites. Any changes to the property layout, extensions or structural work would be tricky to find financing for under a standard buy to let product.
  2. Hi Jacqui, Stephen Pendry at Willow Private Finance would get my vote, he recently completed a mortgage for a couple of expats in Canada. He can be contacted on stephen@willowprivatefinance.com or 07828 304487. Good luck with your search.
  3. Hi, Thanks for your post. A few issues with what you are looking to do here. The property doesn't meet the help to buy criteria which I have noted below; The home you buy must: be a new build have a purchase price of up to £600,000 in England (or £300,000 in Wales) be the only one you own not be sub-let or rented out after you buy it be one that you can show you cannot afford (if you're applying in Wales) Hope this helps
  4. Hi Minda, Your initial query makes a lot more sense now. I have checked Nationwide's intermediary site which notes the below; Income from bonus, overtime and commission From 2 April 2020, we won’t accept BOC income on any new applications. This also applies to any additional income that we currently treat the same as BOC. Unfortunately, no change since April 2020. I note that Nationwide have early repayment charges of 1.75% and 0.75% applicable to years 4 and 5. These charges are based on current charges and may differ to your current arrangement. In my experi
  5. Hi Chay, I am personally on Vouchedfor and can be found in the Chichester area.
  6. A number of lenders are now accepting overtime and regular commission. Is there a specific reason as to why you are looking at Nationwide specifically?
  7. in my experience a number of lenders are happy to accept one months payslip along with corresponding bank statement. However, if overtime, commission or variable income is to be considered then further evidence will be needed. Good luck with your property hunt.
  8. Hi, This is a fairly straight forward lending request which most lenders would be happy to accommodate. As always, you would need to meet the lenders affordability criteria in your own right. Do be wary as there could be taxes due on the disposal of your family members share. I would recommend speaking with a mortgage broker or financial adviser, this will ensure the process is tax efficient and you get the lowest possible interest rate.
  9. Hi Gabriella, This shouldn't be a problem, however, the lender may ask for a breakdown of the renovation work you intend to carry out. Providing this stacks up, this should be fairly straight forward. Good luck
  10. Hi Danielle, As you are looking for advice on the LISA and mortgages, I would suggest a financial adviser who can advise on both products. I am qualified in both areas of advice and would be happy to have an initial conversation. You can check out my reviews on Vouchedfor, link below. https://www.vouchedfor.co.uk/financial-advisor-ifa/chichester/063209-guy-ovenden
  11. IN the current market, there are a number of lenders which will lend without requesting information around current income. A number of lenders stipulate that, you must be a home owner, not a first time landlord as well as a few other criteria.
  12. Hi Wookash, Very good question you have here, also a common question asked by portfolio landlords. The common obvious have been noted above. However, the use of pensions during your working life are a sensible option. Income received from property is taxable at your rate of income tax. Now, contributions into a pension during your working life benefit from tax relief. As a basic rate tax payer. You pay 20% tax on your income yet that 20% is given back when contributions are made into a pension. Example You earn £30,000 salary from your employer and earn
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