Any mortgage experts?
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 Palace_love_affair  SE London 10 Apr 17 3.35pm |
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Originally posted by JohnB
I have just got a mortgage for a new house and I can't recommend highly enough a mortgage advisor. I went into my bank and also looked a bit online and on average I'm saving about £350 per month in repayments. They will also tell you accurately what you can and can't borrow. From my limited experience, they look at your salary and what your outgoings are and base it on that. They ask for bank statements for the last 3 months so they can assess what is a regular outgoing. The only thing that seemed to be a myth was the 'online gambling showing on my outgoings' hinders the mortgage. I don't gamble huge amounts but the fact about £100 in the last 3 months had gone to Bet365 didn't make a difference. I intentionally didn't gamble at all for 3 months as I heard that too. I believe that if there are some serious spending habits (gambling or otherwise) it would raise alarms bells. They look at credit card statements too and if you were broke enough to withdraw cash on it, that's a red flag apparently.
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| Rudi Hedman Caterham 10 Apr 17 3.57pm |
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Originally posted by Hoof Hearted
That sounds like a plan? Although I guess, some of the flat owners will be less enthusiastic as others to muck in and/or contribute but probably better than having to have increasing ground rents and fees imposed by a 3rd party. Costs of maintenance drop 25% instantly becoming freeholders as that's their fee for all work done. You'll also save by shopping around as there's probably some back handers from hired maintenance workers to property management boss for hiring them. Also you might have certain things done less often or by yourselves. Vacuuming, windows cleaned, sweeping up outside, bits of gardening etc. Value and saleability of property can rise too.
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| Rudi Hedman Caterham 10 Apr 17 3.58pm |
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Originally posted by Palace_love_affair
I intentionally didn't gamble at all for 3 months as I heard that too. I believe that if there are some serious spending habits (gambling or otherwise) it would raise alarms bells. They look at credit card statements too and if you were broke enough to withdraw cash on it, that's a red flag apparently. You can just use PayPal or Skrill instead or use a different bank and bank account.
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| Lyons550 Shirley 13 Apr 17 10.54am |
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Originally posted by Rudi Hedman
Costs of maintenance drop 25% instantly becoming freeholders as that's their fee for all work done. You'll also save by shopping around as there's probably some back handers from hired maintenance workers to property management boss for hiring them. Also you might have certain things done less often or by yourselves. Vacuuming, windows cleaned, sweeping up outside, bits of gardening etc. Value and saleability of property can rise too. I've just purchased a couple of places in Margate ...each with a share of the Freehold...whilst its true that it saves you paying the ground rent it means you take on other burdens such as the responsibility of maintaining the communal areas and the fabric of the building along with the others, which wont come cheap.
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