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Upon inspection, 2 month-to-month tenants left house in bad shape and want their deposit back!
We did not charge for wear and tear, etc. only what the lease said--maintain yard, clean ... |
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| Can you even get approved? If you can, what do you need to do to get started and how long must you wait after filing?? Thanks!... |
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 The good news is property prices here in Scotland are still on the rise while prices in the rest of the UK? |
| fall. Do you think that property prices in Scotland will also fall or do you think we will be okay. I am wanting to buy a house but I am not sure if I should wait and see if the prices go down in S... |
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 Landlord SLOW to deposit our rent check?? |
| I just moved into a nice new apt and everything seems alright so far. Our landlord still hasn't cashed our second months rent check and it is the 12th already. Cause for concern?... |
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| I asked the girl to consider carefully before giving me a deposit to secure the room of £220,as I had to ask another tennant to leave. She has not moved in as she now says the fridge is too small !! ... |
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 When you are looking for a home to buy, do you prefer to view it empty or furnished? |
Additional Details
I would much rather see it empty, as you have all said so far, so you can see better what is there. I think buying extra stuff to stage it is silly-- as in that hgtv ... |
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 I have just bought a house and got a letter from my mortgage lender..? |
i dont understand if i have too make two payments or one.
this is what the bank wrote:
Your first months mortgage payment will be 957.30. Please send us a cheque for this amount ... |
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 Will I be able to purchase my first home? |
| I just got married and I am 25 years old and $25,000 in credit card debt with $25,000 in student loans. My husband is 23 years old and declared bankruptcy 2 years ago. He has no debt but will also ... |
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DolceVita | UK question: Can you get a mortgage if you are unemployed? |
SInce being laid off I have been looking for work, but havent found anything in my field. But in the meantime I want to buy a flat and let it, as the rental income should take care of the mortgage. Are there any lenders out there who provide this kind of mortgage? Please give sources for your answers where possible.
Additional Details
Ps - although i am not working i have some savings which will take care of deposits, solicitors fees and surveys etc. |
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MSMORTGAGE
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yes you can but you need to see a broker, this kind of mortgage needs dealing with properly - you can't just apply to the lending institutions that finance these sort of deals. Some lenders will lend up to 95% on Buy to Let. Need any help e-mail me or visit www.marshallfinancial.co.uk - Good Luck PS - BUY TO LET PROPERTY MORTGAGES ARE BASED ON RENTAL VALUE AND NOT INCOME - THEY ARE UNREGULATED UNLIKE OTHER MORTGAGES. |
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sparkle79
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No mortgage company will give you a mortgage without proof of long term income as you will have to show you are in a position to continue paying for such a large investment x |
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Annie M
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You will need 15% deposit if you are buying to let....So on a place costing 150k, you need 22.5k. I enquired myself last year when thinking of buying a place to rent out, but no way could I afford that kind of deposit. However, I only went to one mortgage company so could be different advice.
Also, if you are not working and the place doesnt get rented out, you are high risk, so reckon thats a no. |
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roy_s_jones
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Yes you can but you have to show some money. For example another house with equity, stock options, whatever with value that would repay the mortgage if something goes wrong.
Good luck ! |
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GorGeous_Girl
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of course if you do not have any means of regular income, you will not be able to pay off the mortgage.
there is a risk that the flat doesnt get rented out - that risk the bank does not take.
you have to show proof of sufficient income to (1) pay the mortgage regularly (2) upkeep yourself independently from that income
if above two are not satisfied, mortgage will not be granted. |
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eflatsharp
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Tell them you're an illegal immigrant. They seem to get EVERYTHING ! |
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Valiant
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You need a buy to let mortgage to rent the flat out. There are many lenders in the UK that offer this type of mortgage however, you will usually only be able to raise 85% of the purchase price of the flat so you wil need the deposit plus legal fees, survey etc. A buy to let mortgage is usually based on rental yield so being unemployed is not a bar in this case.
One down side is that if you are a first time or inexperienced land lord then the lender may ask for a minimum income in which case, this would currently rule you out.
Also, please be aware that if you are unemployed and you have no tenant in the property then you will need to maintain the mortgage or run the risk of default and repossession.
Contact me if you have further queries. |
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minerva
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no..you must have an income. it could be from a trust fund but mortgage lenders usually want you to have a steady job for 3 years+ |
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spindal2001
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the lender will need to have proff of income so no, they wont allow u to get a mortgage |
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oohbetty
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No. You have to have proof of income and a good credit rating. Mortgage lenders would never take the risk. If they did then everyone would give up their jobs! Two words come to mind -DREAM WORLD! |
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JasonLee
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Worldwide: If you want a legitimate mortgage from banks then answer is no. You need income to get a mortgage unless yr savings is generating enough income which can subsitute as salary. |
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