Your credit score has a big part to play in how much you can borrow. In the most extreme cases a low credit score could prevent a mortgage lender from even considering you or, more likely, a low score could mean that the lender uses a lower multiple of your income to decide how much you can borrow.
Where is the property listed? Never feel pressured into selling your home with the estate agent you bought your house from. Obviously, if you were impressed by how they sold your house to you, you can.
You can see how much you could borrow based on your income with this mortgage calculator. The simple online tool shows you the amount you could borrow as a mortgage so you know before you apply. How much can I borrow? at What mortgage. compare mortgages for first-time buyers, use our free mortgage calculator, learn about remortgaging & APR.
· For tax purposes, vacation homes are subject to what’s called the 14-day or 10% rule. You can rent your place for up to 14 days a year and pocket the rental income without having to declare it on your tax return.
RO You would need to remortgage your current property, moving onto a buy-to-let deal totalling £97,000, which incorporates the £87,000 of your mortgage you still have to pay, plus the additional.
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Up to £1,000 back when you remortgage to us. Apply between 20th August – 21st October 2018 and complete. The refund will be paid directly into the bank account that pays the mortgage within 30 days of completion. This offer can be withdrawn at any time and excludes product transfers, Further Advances and Buy To Let. Minimum loan amount £25,000.
Find out if you can get a mortgage with Bad Credit. In just a few moments you can find out how likely you will be to get a bad credit mortgage. Just click here to gain a copy of your credit score and then use our calculator below.. Calculation results should not be considered as a quote.
· so my question basically is, can i use my existing property as deposit/equity towards a new house? and, what would this involve? would i have to remortgage my existing house for the amount of the deposit on the new house? or would the bank just use the existing property.