General Discussion: Property thread


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Scottishmark
Scottishmark avatar

621 posts since 25/1/11

5 Aug 2020 17:10
From a purely “can this person actually save and look after themselves POV” it makes perfect sense doesn’t it? Laughing out loud
Rirawin
Rirawin avatar

9363 posts since 17/7/05

posted 5 Aug 2020 17:24, edited 5 Aug 2020 17:24
.
edlo
edlo avatar

631 posts since 13/9/14

posted 5 Aug 2020 18:19, edited 5 Aug 2020 18:19
Seems to be just for 90% ltv mortgages. I'd be concerned too about lending somebody money if they can't even come up with a 7.5% deposit without a handout…
pops
pops avatar

4143 posts since 2/9/09

5 Aug 2020 18:31
edlo wrote: I'd be concerned too about lending somebody money if they can't even come up with a 7.5% deposit without a handout…

Presumably you don’t live in London then
edlo
edlo avatar

631 posts since 13/9/14

5 Aug 2020 18:49
If you want to live in zone 1 you're going to have to save up, don't see the point in crying about lenders
MattC
MattC avatar

779 posts since 20/3/12

5 Aug 2020 18:53
Cant get a 90% mortgage just now anyway.
Rirawin
Rirawin avatar

9363 posts since 17/7/05

posted 6 Aug 2020 10:57, edited 6 Aug 2020 10:57
Anyone own a second property/is a landlord? Aware there are restrictions with Buy to Let mortgages and a regular mortgage for a second home.

How do the mortgage lenders actually know that:

1) You're not letting family staying there rent free
2) You're letting it out as an Airbnb. Do they carry out checks on who pays the council tax or ASTs that have been signed?
3) Is a Holiday Let Mortgage better to consider if it's used 50/50 between family staying there and letting it out as an Airbnb?

Asking for a friend.