Selfy Employed 1st time house buyer.....
07 May 2005, 10:17 PM
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Selfy Employed 1st time house buyer.....
is this going to be the complete nitemare i think its going to be??
how do you manage to get a mortgage, when you have no real proof of earnings?
do you need to prove how much you have earned previous?
house prices seam to bea bit lower then the last time i checked them.
to be honest, all i want is either a nice long driveway or a garage and sumwhere to sleep at the end of the day
found a 3bedroom end villa house near where i grew up with a price of £110 000 ish
it has a 3 car block paving driveway, bonus!
but i am compleatly in the dark about house buying and stuff, even more so now im self emplyed
holiday in 2 weeks time then im putting cash away for a healthy deposit on sumthing, if i was to set a limit of 120k for a place, how much deposit would i need? i would ask sumbody in an estate agents, but to be fair, i class them as in the same league as a car salesman and would rather not pollute my mind with there crappy mind bending tricks
how do you manage to get a mortgage, when you have no real proof of earnings?
do you need to prove how much you have earned previous?
house prices seam to bea bit lower then the last time i checked them.
to be honest, all i want is either a nice long driveway or a garage and sumwhere to sleep at the end of the day
found a 3bedroom end villa house near where i grew up with a price of £110 000 ish
it has a 3 car block paving driveway, bonus!
but i am compleatly in the dark about house buying and stuff, even more so now im self emplyed
holiday in 2 weeks time then im putting cash away for a healthy deposit on sumthing, if i was to set a limit of 120k for a place, how much deposit would i need? i would ask sumbody in an estate agents, but to be fair, i class them as in the same league as a car salesman and would rather not pollute my mind with there crappy mind bending tricks
07 May 2005, 10:21 PM
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Originally Posted by StickyMicky
found a 3bedroom end villa house near where i grew up with a price of £110 000 ish
07 May 2005, 10:27 PM
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3 Bed End Villa
Entrance Hall
Lounge
Kitchen
Bathroom/wc
Parking And Gardens
Central Heating System
Upvc Double Glazing
A modern end villa in a small development situated with sunny southerly aspect to the rear. The property is attractively presented and decorated providing a spacious family home and includes entrance lobby and hall leading to appealing 19' lounge with double glazed french doors, 14' fitted kitchen, 3 good sized pleasant bedrooms, the master with fitted furniture and bathroom/wc with modern white 3 piece suite and shower. There is a block paved driveway to the front and and gardens to front and rear. In addition it has upvc double glazing and a gas radiator central heating system.
Entrance Hall
Lounge
Kitchen
Bathroom/wc
Parking And Gardens
Central Heating System
Upvc Double Glazing
A modern end villa in a small development situated with sunny southerly aspect to the rear. The property is attractively presented and decorated providing a spacious family home and includes entrance lobby and hall leading to appealing 19' lounge with double glazed french doors, 14' fitted kitchen, 3 good sized pleasant bedrooms, the master with fitted furniture and bathroom/wc with modern white 3 piece suite and shower. There is a block paved driveway to the front and and gardens to front and rear. In addition it has upvc double glazing and a gas radiator central heating system.
i will google self certing
07 May 2005, 10:30 PM
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Originally Posted by Spoon
Do you live in Beirut? A wheelie bin costs more here!!
i can still rember nicked cars being dumped at the end of the street at least once a week
, we moved away to sumwhere decent when my dad was promoted and then new labour came along and sorted the old place out
the bronx of the UK
hopefully there will be sum kind of massive crash, so i can buy lots of places for 20p
07 May 2005, 10:34 PM
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Originally Posted by StickyMicky
i can still rember nicked cars being dumped at the end of the street at least once a week
Trending Topics
07 May 2005, 10:36 PM
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Self Cert looks like its the future!!
so in basic terms, you work out how much you can afford, and thats that
it all seams so clear
red and white stripey house in the planning stage
so in basic terms, you work out how much you can afford, and thats that
it all seams so clear
red and white stripey house in the planning stage
07 May 2005, 10:48 PM
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Originally Posted by StickyMicky
the north east birds crap is much tougher then the southern stuff lol
it takes quite a bit of work to get it all off
it takes quite a bit of work to get it all off
07 May 2005, 10:54 PM
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Lol this thread.
Seriously, get advice from Independent Financial Advisor.
Tiggs might reply.
Look on www.housepricecrash.co.uk, advice there and links.
Seriously, get advice from Independent Financial Advisor.
Tiggs might reply.
Look on www.housepricecrash.co.uk, advice there and links.
07 May 2005, 11:05 PM
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Originally Posted by StickyMicky
i grew up in a rough and ****ty place to be honest!!
i can still rember nicked cars being dumped at the end of the street at least once a week
, we moved away to sumwhere decent when my dad was promoted and then new labour came along and sorted the old place out
the bronx of the UK
hopefully there will be sum kind of massive crash, so i can buy lots of places for 20p
i can still rember nicked cars being dumped at the end of the street at least once a week
, we moved away to sumwhere decent when my dad was promoted and then new labour came along and sorted the old place out
the bronx of the UK
hopefully there will be sum kind of massive crash, so i can buy lots of places for 20p
07 May 2005, 11:35 PM
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i *think* you have to be self employed for at least 3 years before most banks etc will consider a mortgage, not 100% sure, but i have friends who are self employed, even though working for a company full time and earning £700 every week set pay, they couldnt get a mortgage until self employed for 3yrs... not 100% sure tho!
08 May 2005, 11:23 AM
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I thought they'd stamped out self certs due to a fair amount of abuse of the system (lending up to 10 times earnings). FWIW I've got a self-cert (own limited company, relatively low salary) at base rate +1% which is OK. The range of products available as self-certs isn't as competitive as ordinary mortgages.
08 May 2005, 02:28 PM
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Originally Posted by mr & mrs carlos uk300
Was it hendon by any chance, or was it meadowell?
allthough half my family is from medowell
i rember my aunty being on the fone, telling my mam that they were petrol bombing next doors house when they had them crazy riots a few years back
nice place
will check out the house price crash site, dunno if i can wait 3 years for acounts to be honest, i want out NOW!!
08 May 2005, 02:57 PM
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Can you get a guarantor on your mortgage? Parent with paid off house perhaps? I have £60k @ base rate + 0.5% with no regular income (student) with YBS thanks to having a guarantor.
08 May 2005, 03:08 PM
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no idea im compleatly clueless, but to be honest i dont really like having people "helping me" with stuff that can come back to harrass me
08 May 2005, 03:12 PM
#21
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I was going through this a couple of years ago. It cost me my then girlfriend and a lot of stress.
Good Luck!
PS Still haven't got a house but about to go through the whole thing again!
Good Luck!
PS Still haven't got a house but about to go through the whole thing again!
08 May 2005, 03:52 PM
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Also goes on your credit history...which if its a A+ report and you can show you have been bringing in a stable income for a certain time I dont see why not!! Go talk to an advisor 1st to see what they would allow you to borrow!!
Most places are 5% min deposit although you can go with no deposit...I wouldnt advise it though!!
Most places are 5% min deposit although you can go with no deposit...I wouldnt advise it though!!
08 May 2005, 03:58 PM
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Originally Posted by StickyMicky
G/F wants a "home" anyway next year, so it might have to wait until then
In with both feet...thats the way!!!
And I went with Lloyds TSB 1st time buyer mortgage, they offered me 4x my annual income and paid for arrangement fees and house survey
08 May 2005, 06:09 PM
#27
you will be lucky to get a £110k mortgage with no accounts and 1st year self employed. ive been self employed for years and i struggled to get a mortgage for mine and it was only £70k when i bought my house. apparently im too poor to afford the bigger morgages
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