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changing your mortgage?

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  • changing your mortgage?

    Hi, me and my partner fell in love with a house and decided to try n get a mortgage with the co-op. we only had a 10% deposit but enough for the house...after the bank messing up a little bit they finally told us we could only lend 99000, 15000 short of the property...we know there is no way too find this money and have give up on this house. in the meantime we have fell out with my step dad giving us the gifted deposit so now we only had 5000 deposit...so we have decided to buy a cheap house and do it up, anything to get us on the market. weve found the house, in a town that both me and my partner come from...we need to sort something really fast beacause where we are renting wont let us take back our notice, so does anyone know if we can apply for this house on the same mortgage application? The bank is giving us our money back from the valuation we had done on the last property because they take blame on not telling us sooner that we couldnt lend what we needed. Could we use this money to have this house valued? like i said, were in a rush to get it sorted because we have to be out by the beginning of January, and we have two babys
    Any help or advise would be great, thank you, stacey

  • #2
    Re: changing your mortgage?

    Your estate agent should be able to point you in the direction of a good mortgage/financial advisor who will be able to assist you.
    Looking for a large mortgage?

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    • #3
      Re: changing your mortgage?

      Hi,

      I agree with property diamond. A financial advisor will find you the best mortgage out there for your situations they are all FSA approved therefore you can trust there information, if you have been excepted before then the Financial advisor will be able to another one with another financial company.
      We have debt solutions to help you get out of debt problems

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      • #4
        Re: changing your mortgage?

        Hi Staceallana

        Im sorry to hear about your predicament. Some good advice has been given here. You must try and act quickly in order to not let things get any worse by getting hold of a good broker. Your situations seems fairly specific so they should be able to help out.

        Good luck with everything.
        Free Guides For First Time Buyers!

        www.FirstTimeBuyerGuru.com

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        • #5
          Re: changing your mortgage?

          So the question is, can me and my partner change the mortgage at our current house to a buy to let mortgage and then get another mortgage using my parents

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          • #6
            Re: changing your mortgage?

            Absolutely you can, but you'll either get a consent to let from your lender or have to switch to a full buy-to-let mortgage...which will require a hefty deposit of at least 20% (although some at 15% are available).
            Free Guides For First Time Buyers!

            www.FirstTimeBuyerGuru.com

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