Finance & Investment Questions

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Sticky: Mortgage News by loanarranger Started by loanarranger, 23-12-2015, 19:43 PM	427 responses 26,465 views 0 likes	Last Post by loanarranger 02-11-2020, 10:04 AM
Looking to buy a resi but in a bit of a pickle by blinko Started by blinko, 24-11-2020, 22:19 PM	8 responses 69 views 0 likes	Last Post by loanarranger 25-11-2020, 10:51 AM
Very Frustrating and Unfair Mortgage situation by Mavis808 Started by Mavis808, 10-11-2020, 13:35 PM	10 responses 240 views 0 likes	Last Post by Mavis808 23-11-2020, 12:22 PM
first time buyer - need a lawyer by sixunforced Started by sixunforced, 20-11-2020, 14:21 PM	5 responses 65 views 0 likes	Last Post by loanarranger 21-11-2020, 22:34 PM
(Potential) new landlord questions for the experienced by Jimreaper Started by Jimreaper, 19-11-2020, 16:22 PM	14 responses 158 views 0 likes	Last Post by Flashback1966 21-11-2020, 17:42 PM
LIBOR Tracker mortgages? No more LIBOR? by Flashback1966 Started by Flashback1966, 19-11-2020, 10:48 AM	5 responses 62 views 0 likes	Last Post by loanarranger 20-11-2020, 16:30 PM
Who's buying who's selling? by jwcoupe1 Started by jwcoupe1, 18-11-2020, 15:19 PM	3 responses 108 views 0 likes	Last Post by Flashback1966 20-11-2020, 12:20 PM
London Borough of Camden experiences drop in rentals by loanarranger Started by loanarranger, 17-11-2020, 19:34 PM	2 responses 58 views 0 likes	Last Post by theartfullodger 19-11-2020, 11:39 AM
Low Value Mortgage by Trinniewhistle Started by Trinniewhistle, 18-11-2020, 21:22 PM	5 responses 52 views 0 likes	Last Post by jpucng62 19-11-2020, 07:32 AM
Portfolio Finance by jpkeates Started by jpkeates, 17-11-2020, 16:42 PM	2 responses 62 views 0 likes	Last Post by boletus 18-11-2020, 09:28 AM
2021 property investing via limited company by Newbielandlord2015 Started by Newbielandlord2015, 15-11-2020, 11:24 AM	4 responses 107 views 0 likes	Last Post by loanarranger 17-11-2020, 23:03 PM

Looking to buy a resi but in a bit of a pickle

by blinko

Hi all,

Was hoping for some advice, I'm currently employed and will be going self employed as of March 2021, I also have rental income and would be interested to buy about October 2021, how likely would this be considering I won't have completed 1 year of self employment and only have an...
- Channel: Finance & Investment Questions
24-11-2020, 22:19 PM
Reply to Looking to buy a resi but in a bit of a pickle

by loanarranger

Each lender has a different set of criteria for workers who are furloughed: in the main lenders will accept between 60% & 80% of the normal salary up to a specific amount normally £1850 , however some like Coventry and no longer accepting applications where the applicant is furloughed, a minority...
- Channel: Finance & Investment Questions
25-11-2020, 10:51 AM
Reply to Looking to buy a resi but in a bit of a pickle

by blinko

hhmmm how does this relate to my question.........
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25-11-2020, 10:14 AM
Reply to Looking to buy a resi but in a bit of a pickle

by Mrs Mug

That's why you take out mortgage insurance.
- Channel: Finance & Investment Questions
25-11-2020, 09:39 AM
Reply to Looking to buy a resi but in a bit of a pickle

by blinko

like wise my business could take a down turn...
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25-11-2020, 09:37 AM
Reply to Looking to buy a resi but in a bit of a pickle

by Mrs Mug

Because your tenants could stop paying their rent....
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25-11-2020, 09:34 AM
Reply to Looking to buy a resi but in a bit of a pickle

by blinko

thanks for your thoughts guys unfortunately i would need lenders that would be ok with including my BTL income as it makes up roughly 50% of my total income

I never understood why banks don't include rental income, eg what would happen if i had say 25k salary and 200k BTL income would they...
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25-11-2020, 08:44 AM
Reply to Looking to buy a resi but in a bit of a pickle

by loanarranger

Hi Blinko
Currently there are 14 lenders whose criteria accommodates self employed applications where there is one years accounts, however restrictions might be applied for the maximum LtV of between 75%/85%. Furthermore some insist that the accounts must be prepared by a. Suitably qualified...
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25-11-2020, 06:37 AM
Reply to Looking to buy a resi but in a bit of a pickle

by Gordon999

You should buy now whilst you still have a job and can prove your income to get a mortgage loan .
- Channel: Finance & Investment Questions
25-11-2020, 03:05 AM
Reply to Very Frustrating and Unfair Mortgage situation

by Mavis808

Lender has finally come back with an offer, but £20k lower than agreed. Excuse being they have changed their internal policy since because of COVID. So after all this time waiting I'm back to square one.
- Channel: Finance & Investment Questions
23-11-2020, 12:22 PM

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