Mortgage In The Uk

Teresa Said:

Will the UK mortgage market achieve positive growth in 2008?

We Answered:

It may, closer to 3rd Quarter or the end of the year, but I expect we'll see more write-offs first during Q1 and Q2. Pound may well follow the Dollar's slide first part of 2008 due to this.

Marshall Said:

Getting a mortgage (UK)?

We Answered:

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!

Jordan Said:

paying off mortgage & uk benefit?

We Answered:

if u pay it off in 1 go the benefits agency will start diggin,be careful if ur gonna apply 4 benefits an they find out u had all that money they will refuse u any benefit

Patrick Said:

Will they give us a mortgage? (UK)?

We Answered:

You don't mention your ages but that should not matter too much. Even in the current climate you should be able to get a mortgage. Get in touch with a broker who will advise.

From the figures your bf earns as a self employed you should be able to achieve between £110,000 and £165,000, also if you are working they would include that as well.

Alternatively if you have not got a house in mind look at the big building companies such as Barrett's and Persimmon etc... They are desperate to shift their houses and are offering creative mortgage and buying packages.

Good luck

Tonya Said:

Can I rent my house on a normal mortgage? UK Only!!?

We Answered:

You should let the mortgage provider know and they may then convert you to a commerical mortgage.
But hey - what they don't know they can't do anything about. If you get caught though it'll cost you a bomb.

Darren Said:

Can i change my mortgage (UK)?

We Answered:

If you want to change Mortgages it will be like starting again. Payslips, credit checks, bank statements and so on.
You will also pay fees.
Stay where you are for the time being.

Clara Said:

Is it possible to transfer a UK mortgage to the USA?

We Answered:

If you have 25% equity in your UK home, just sell it and pay off the mortgage. You'll have a tidy pile to put towards a purchase elsewhere.

You can't "transfer" a UK mortgage, nor would you want to. Fixed rate mortgages are the rule in the US -- for the LIFE of the mortgage! And current rates are below 6% PA!

One caution about TX though. Although the weather can be lovely at this time of year, you'll have a different opinion in July and August where temps can easily exceed 40C in the daytime and don't drop much at night. And do keep in mind that most of TX is in the heart of "Tornado Alley" so do be sure that whatever you buy has a proper storm cellar!

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