Tradefair & Financials
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i play poker for a living and have done for 5 years. i graduated 2 years ago and live with my parents. i have no records whatsoever really.
i'd like to get a mortgage for a house, i could probably put as much as 60% down. my mum works part-time and my dad at the moment has a temporary job. they have a 250k house on which they owe 40k.
i have heard about 'guarantors', would they be able to act as one given their mediocre employment situation? i really don't know anything about any of this stuff and would appreciate any advice. i just don't want to look like an idiot when i call up a mortgage place. i bank w/ hsbc, nationwide and ING if that is relevant.
i was reading about self-cert mortgages before, then i came across this :
http://www.myfinances.co.uk/mortgages/news/self-cert-mortgages-banned-in-regulation-shake-up-$1335046.htm
are those just plans to ban them, or are they now banned?
last but not least, a house nearby was 150k in the summer, is still on the market now for 120k and has been repossessed by the mortgage company. what do you think the chances are they would accept 100k?
thanks very much anyone to who read all this.
i'd like to get a mortgage for a house, i could probably put as much as 60% down. my mum works part-time and my dad at the moment has a temporary job. they have a 250k house on which they owe 40k.
i have heard about 'guarantors', would they be able to act as one given their mediocre employment situation? i really don't know anything about any of this stuff and would appreciate any advice. i just don't want to look like an idiot when i call up a mortgage place. i bank w/ hsbc, nationwide and ING if that is relevant.
i was reading about self-cert mortgages before, then i came across this :
http://www.myfinances.co.uk/mortgages/news/self-cert-mortgages-banned-in-regulation-shake-up-$1335046.htm
are those just plans to ban them, or are they now banned?
last but not least, a house nearby was 150k in the summer, is still on the market now for 120k and has been repossessed by the mortgage company. what do you think the chances are they would accept 100k?
thanks very much anyone to who read all this.
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auctions check them out, good source of cheap propertys. goodluck
If its a reposession, try and offer them the 72K cash?? if you can put 60% on 120 than yo must have the cash. see what happens, worst they can say is no. If they accept then they will put a "Notice" in which case the public have 7 days to better or its yours.
Daft responses!!
Unfortunately without income you will stand little chance of getting a mortgage(without Lieing). Parents could stand as guarantors, however with your father being in a temporary job the lender would only use your mums income. The value of their house is not relevant, although their morgage would be treated as a commitment and would affetct the amount they can guarantee.
Not sure what you can do other than buy a cheaper property
Unfortunately without income you will stand little chance of getting a mortgage(without Lieing). Parents could stand as guarantors, however with your father being in a temporary job the lender would only use your mums income. The value of their house is not relevant, although their morgage would be treated as a commitment and would affetct the amount they can guarantee.
Not sure what you can do other than buy a cheaper property
How can it still be difficult to get a mortgage if you can put 60% down?? Surely the risk for the bank is very small?
The Knight 19 Dec 10:45
Of course, the poster could just get a job....
If he earns a lot more playing poker than he would in a job it would be a high price to pay though. I think you need to be employed for at least 3 or 6 months before you can get a mortgage right?
Of course, the poster could just get a job....
If he earns a lot more playing poker than he would in a job it would be a high price to pay though. I think you need to be employed for at least 3 or 6 months before you can get a mortgage right?
If he earns a lot more playing poker then he would wait a few months and buy said £100K property outright.
You will find it very hard if not impossible to get a mortgage in your circumstances in current conditions. In response to the other part. At auction a high street £150K property can be had for around £75-£90K. I'd expect the bank to refuse offers below the £90K level and go to auction instead, where they would expect to get at least £75 and maybe more.
I presume you were measuring your 60% deposit against a £100K offer? In which case you would be a little short, and you may well get that sort of money through your parents, though it may be easier for them to simply remortgage their home and give you the cash as a private loan and not complicate matters with guarantors for poker playing sons etc.
Good luck
You will find it very hard if not impossible to get a mortgage in your circumstances in current conditions. In response to the other part. At auction a high street £150K property can be had for around £75-£90K. I'd expect the bank to refuse offers below the £90K level and go to auction instead, where they would expect to get at least £75 and maybe more.
I presume you were measuring your 60% deposit against a £100K offer? In which case you would be a little short, and you may well get that sort of money through your parents, though it may be easier for them to simply remortgage their home and give you the cash as a private loan and not complicate matters with guarantors for poker playing sons etc.
Good luck
The Knight 19 Dec 10:45
Of course, the poster could just get a job....
..This is a site for punting and punters .. sharp minds and all that
Suggest you hop back to the Da ily M ail site with your sad Middle England attitude
Of course, the poster could just get a job....
..This is a site for punting and punters .. sharp minds and all that
Suggest you hop back to the Da ily M ail site with your sad Middle England attitude
Your mind isnt sharp enough to see what The Knight was suggesting.
Harry Crumb is right...
Some real sharp minds on here...not!
Some real sharp minds on here...not!
On the Contrary...
U mind like to check out amazon for a book called 'How to play Internet Poker to Win'..
See if you can spot the likeness between my id. and the author's surname...
You might even like to buy yourself a copy, then you'd know that those of us with 'Middle England Values' are not always as you seem to think!
U mind like to check out amazon for a book called 'How to play Internet Poker to Win'..
See if you can spot the likeness between my id. and the author's surname...
You might even like to buy yourself a copy, then you'd know that those of us with 'Middle England Values' are not always as you seem to think!
he Knight 21 Dec 11:13
On the Contrary...
U mind like to check out amazon for a book called 'How to play Internet Poker to Win'..
See if you can spot the likeness between my id. and the author's surname...
You might even like to buy yourself a copy, then you'd know that those of us with 'Middle England Values' are not always as you seem to think!
A full time Horse racing punter for 6 years now ... havent felt the need to write a 'how to' book to make up any earnings shortfall yet
On the Contrary...
U mind like to check out amazon for a book called 'How to play Internet Poker to Win'..
See if you can spot the likeness between my id. and the author's surname...
You might even like to buy yourself a copy, then you'd know that those of us with 'Middle England Values' are not always as you seem to think!
A full time Horse racing punter for 6 years now ... havent felt the need to write a 'how to' book to make up any earnings shortfall yet
Royreanie,
Missing an income stream then aren't you?
Very sharp! LOL
Missing an income stream then aren't you?
Very sharp! LOL
The Investor,
Yeah, that would be very sharp wouldn't it? Give the f**cker away!
Enough people selling it for 1p as it is (it came out 3 years back).
Although, to be fair, John Grisham and the bird who wrote Harry Potter were never cacking it at the top of the best seller lists anyway!
Yeah, that would be very sharp wouldn't it? Give the f**cker away!
Enough people selling it for 1p as it is (it came out 3 years back).
Although, to be fair, John Grisham and the bird who wrote Harry Potter were never cacking it at the top of the best seller lists anyway!
from my experience the only legible way to purchase a property with no income is outright. unless you purchase a cheaper property and use your fathers income
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