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Mortgage help

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atkinson2006
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2007/06/16 12:08:08 (permalink)
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Mortgage help

Why is so bloody confusing, why not make things really simple?
Anyway, what i want to do is purchase a house/flat for 'x' however i have a loan to finish paying for which is costing me 'x' amount, could i get a mortgage big enough to pay off my loan and just have mortgage to worry about do companies actually allow you to do this, plus i want that little bit extra so i can get some furniture?

Someone help me please?

13.12 Stone, 5ft9.5:
1RM Dead 205kgs
1RM Bench 130kgs
1RM Smith Flat Bench 150kgs
1RM Squat Unknown, but 150kgs for 2.
#1

9 Replies Related Threads

    TRAMP
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    RE: Mortgage help 2007/06/16 12:14:01 (permalink)
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    pretty sure you can, yeah

    It's finally arrived....PM Neb for swaps!


    #2
    dannyboy
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    RE: Mortgage help 2007/06/16 12:17:31 (permalink)
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    mortgage funds can be used for any legal purpose, you just need to make it known on the application form what the difference is being used for - otherwise they'll ask.

    You'll then end up with a mortgage offer stating it's a condition of the offer that you pay it off

    edit:

    This my line of work so what I'm saying is definitely correct.
    post edited by dannyboy - 2007/06/16 12:18:58
    #3
    ginasmg
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    RE: Mortgage help 2007/06/16 12:17:33 (permalink)
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    you should be able to mate,we borrowed more than we needed to pay off one debt and only had the one payment of the mortgage so yes you can.
    #4
    atkinson2006
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    RE: Mortgage help 2007/06/16 12:25:52 (permalink)
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    thanks guys, another question i have no money at all for deposit anyone no any good companies that offer 100% mortgage. I have used the moneysupermarket.co.uk thingy and well it don't make it easy to get what you need.

    13.12 Stone, 5ft9.5:
    1RM Dead 205kgs
    1RM Bench 130kgs
    1RM Smith Flat Bench 150kgs
    1RM Squat Unknown, but 150kgs for 2.
    #5
    dannyboy
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    RE: Mortgage help 2007/06/16 12:29:52 (permalink)
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    On all but the cheapest of properties you won't be able to get a mortgage big enough to give you 100% of the purchase price and extra to pay off the loan.

    Your best option is to speak to a mortgage broker who will be able to explain things to you properly.

    There's a few of them who post on the board, if you're anywhere near central London I can get you an appointment with an IFA who won't charge anything.
    #6
    theiopener
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    RE: Mortgage help 2007/06/16 12:33:34 (permalink)
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    you can get 100% mortgage through a few, best bet is to go to places like Haart, COuntrywide and others that offer independatn mortgage advice for free as theyre not commission based. Bought my place through bairstow eves and they were great as theyre part of the Countrywide group. One thing i will say with 100% mortgages though youl pay a higher rate of interest and also make sure you can afford the repayments if the interest rates decide to skyrocket again like they have done recently.
    #7
    Shades of Jay
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    RE: Mortgage help 2007/06/16 12:35:52 (permalink)
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    Northern Rock together mortgage is what you want.

    Up to 125%. 95% is a secured loan and then you can have up to £30000 unsecured on top of that up to a max loan to value of 125%

    A 2 year fixed is about 6.35% at the moment.
    #8
    atkinson2006
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    RE: Mortgage help 2007/06/16 12:38:34 (permalink)
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    thanks guys (again) i live in Bradford so london is a tad bit far for me to travel.

    13.12 Stone, 5ft9.5:
    1RM Dead 205kgs
    1RM Bench 130kgs
    1RM Smith Flat Bench 150kgs
    1RM Squat Unknown, but 150kgs for 2.
    #9
    tipex
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    RE: Mortgage help 2007/06/16 13:32:10 (permalink)
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    i had a half share in a house and a home improvement loan as well, when i sold up i rolled it all in to one on the next morgage.

    EAT MEAT
    #10
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