Getting a mortgage (UK)?
I am looking to buy my first house and I do it with my father, my father is retired and has a pension of £ 38k per year, but I currently have no job because I’m just doing my finals at uni, I had a job and started up in late July (signed contract). Therefore I will report any revenue hipotek.Saya When we typed in some numbers into an online mortgage calculator, and when I have a joint mortgage with my income is zero is not rejected only we could get lower credit value pinjaman.Apakah .. I know it’s really hard now. My parents do not have a mortgage left over in their own homes.
Related Posts
Other Posts:
- Bad Credit Remortgages Explained
- Mortgages for single mothers
- Best Bad Credit Remortgage - Bad Financial Situations Is Still Okay
- Best Ways to Find a Good Remortgage Deal
- Prune Mortgage Burden Through Bad Credit Remortgage UK
January 28th, 2011 at 8:25 am
If I understand you correctly, you are asking your father to co-sign your loan. There is a better and more tax efficient way to do this; get your parents to mortgage their house, loan you the money and then buy the house you want for cash.
Better still have them give you the money. If they make this a gift, you can avoid inheritance tax if they survive seven years. In the meantime you can ‘support’ them by giving them money each month that just happens to be equivalent to the amount they are paying for their mortgage.
If you borrow from your parents, they will need to be ok with the possibility that it could be a while before you can get a mortgage in your own name as banks require an earnings history not just a contract!
January 28th, 2011 at 9:08 am
Best advice I can say is, once you are working, save as much as possible even it lasts a year or 2, and then see how much you can get.
It is possible because I did the exact same.