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Any mortgage experts?
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 cardiff eagle  08 Apr 17 1.01pm |
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Hi guys, I'm currently looking at new jobs and basically while all roles i'm looking at are similar, the main difference is location. E.g. local to where i now live in Kent or in London. Do any of you know when it comes to mortgages if the amount i can borrow will be based on a multiplier of gross salary or if they take into account travel costs etc? Because, say i get a job at 60k in London and travel his £450 per month, my take home pay is the same as a £50k job in Kent with much lower travel costs. When I do the online calculators, they offer me loads more with the first scenario compared to the second. Can any of you experts confirm this is true? Cheers, CE
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Casual  Orpington 08 Apr 17 1.26pm |
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Originally posted by cardiff eagle
Hi guys, I'm currently looking at new jobs and basically while all roles i'm looking at are similar, the main difference is location. E.g. local to where i now live in Kent or in London. Do any of you know when it comes to mortgages if the amount i can borrow will be based on a multiplier of gross salary or if they take into account travel costs etc? Because, say i get a job at 60k in London and travel his £450 per month, my take home pay is the same as a £50k job in Kent with much lower travel costs. When I do the online calculators, they offer me loads more with the first scenario compared to the second. Can any of you experts confirm this is true? Cheers, CE Get someone you know who's got a few quid to pay for your travel costs. Keep your money in your account so it looks like you have a surplus. Then pay them back once the mortgage has gone through.
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| Ginger Pubic Wig Wickham de L'Ouest 09 Apr 17 10.04pm |
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You can fudge travel costs if you want but they do take it into account normally. It will be part of your outgoings calculation. At least that's how it was for our last mortgage 8 years ago.
If you want to live in a world full of kindness, respect and love, try to show these qualities. |
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Jimenez  SELHURSTPARKCHESTER,DA BRONX 09 Apr 17 10.08pm |
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Why not cycle to work and save yourself 450 a month?
Pro USA & Israel |
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 Cucking Funt Clapham on the Back 09 Apr 17 10.46pm |
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Originally posted by Jimenez
Why not cycle to work and save yourself 450 a month? Bicycle bender.
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| cardiff eagle 10 Apr 17 6.27am |
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Originally posted by Jimenez
Why not cycle to work and save yourself 450 a month? It's take 3 and a half hours each way according to google! The problem isn't so much the travel cost. It's more that I want to take the local job but despite it working out the same take home pay after cost as the better paid London one it seems I can borrow more with the London one! Seems kinda ridiculous
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| Michaelawt85 Bexley 10 Apr 17 8.19am |
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Originally posted by cardiff eagle
It's take 3 and a half hours each way according to google! Get up earlier
When I was a young girl my Mother said to me.. You listen here kid you're CPFC |
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| Pikester Worthing 10 Apr 17 8.23am |
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Mortgage companies have got a lot stricter since the 90's when they were just just basing it on a simple calculation of gross salary. You really need to prove you can afford the payments after all of your outgoings have been taken (which is kind of good). Your best best is popping into an Independent Financial Advisor who may have some deals that aren't available to the public. Should be free advice too.
You fed me, you bred me, I'll remember your name. |
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| 7mins In the bush 10 Apr 17 8.39am |
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Mortgage companies will look at your expenditure from your account. Like someone said on here, get a mate to pay for travel, reimburse once mortgage agreed. I get about 3-4 mortgages a year, lending criteria has got stricter.
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| Midlands Eagle 10 Apr 17 9.05am |
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If you want a sensible reply have a word with Hoof Hearted who used to be an IFA
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Kermit8  Hevon 10 Apr 17 9.10am |
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Originally posted by Pikester
Mortgage companies have got a lot stricter since the 90's when they were just just basing it on a simple calculation of gross salary. You really need to prove you can afford the payments after all of your outgoings have been taken (which is kind of good). Your best best is popping into an Independent Financial Advisor who may have some deals that aren't available to the public. Should be free advice too. No. Read it three times now. Come on. 'Fess up. It's too well hidden. Where's the bit that always makes me guffaw? Popping, stricter, gross - there is some base material.
Big chest and massive boobs |
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| Michaelawt85 Bexley 10 Apr 17 9.50am |
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Originally posted by 7mins
I get about 3-4 mortgages a year, Gosh.. you must be loaded... fancy a coffee ?
When I was a young girl my Mother said to me.. You listen here kid you're CPFC |
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