Mortgage Advice

I'm looking to buy a resale property but would need a mortgage.I've been told I can have  70% of the value of the property, Can the IVA be added to the price and be part  of the mortgage as well ?  .

Thanks

Beck

Hi,  Smiley is the man to ask, send him a PM.

Beck, Smiley will correct me if I'm wrong but I believe you can if the bank valuation of the property is higher than the sales price.  If there's enough margin you could add the IVA in to get your 70% mortgage.   If the bank valuation were to be the same as the actual selling price then you couldn't do it.

Not really a reply to anyone! but can you advise on possibility of a mortgage if you are working abroad outwith tax limits in UK and only have bank staements as proof? what proof do you need to buy a property in Spain?

Blimey Moderator you are a regualr mortgage expert!! Clearly you remember what I was explaining when you interviewed me. If using a lender that bases the mortgage on value not purchase price is it possible to incorporate the IVA in to the mortgage as long as the mortgage does not exceed 80% of bank valuation.

Smiley, was hoping you would be the best man for the job!! ie. question I asked ha!ha! would love to add icons but not tech enough ? and I am old hee! hee!

Hi Maggie sorry I didnt reply to your question. Certain lenders will accept bank statements as corroboration as long as confirmation can be provided by an employer

Smiley,

What happens with contract workers abroad? and numerous employers??

Depends on exact circumstances Maggie - without more info impossible to be precise - if you wanna chat confidentially let me know via my e mail address in the signature. Definitely some products will be ruled out but not necessarily all. 

Hello,

 

I know a fantastic mortgage / financial advisor that works very quickly.

** EDITED ** Against forum terms of posting

This message was last edited by EOS Team on 5/2/2007.

This message was last edited by JeansSis on 5/18/2007.

Hi Smiley,

Did pm you with basic details last week as not for forums?

Sure..

 

He's based in Hull and works along side one of the biggest overseas property sellers.

He's an independent mortgage advisor.

Anyway, If YOU would like any more info on him you can pm me.

 

 

So spends a lot of time dealing directly with the Risk Directors and Underwriters of the major Spanish and offshore mortgage lenders then who strangely enough are not based in Hull and has direct communication with the directors of the valuation companies as well?

Actualy you know what... email him with a situation and I guarantee he will get back to you promptly with a solution.

Find out for yourself before you make snotty remarks like that.

 

I got my mortgage from him and it was an excellent experience.

 

Please post back to let me know what advice he gives you!!!!

PM me with his e mail address and I have the ideal problem for him to solve

Oh, stop arguing children!!

Anyway, Smiley, are you going to be anywhere near Alicante between 13th and 24th May???

If not, I will just give you a phone when I get home.

Atlas have slightly changed the terms of the mortgage in principle that they offered us, a bit better, but still a bit expensive overall I feel.

I have now my husband's end of year earnings figure and my civil service pension figure, but still awaiting something else coming through.

Too lengthy I know to go into here, but if you were going to be in the area we could have met, if not as I said I will phone you when we come home.

Sharon

 

This message was last edited by JeansSis on 5/18/2007.

 

Obviously I have stepped on somebody's toes. Not sure exactly what I have done but its always a good idea to get a second opinion.

 

So Smiley if you would like to email me on  Jenni@overseaspropertybroker.com   I'd be glad to pass on any of your questions or you can contact him directley at  Kevin.mcadam@thinc.com

Lastly, Kevin has 20 years experience in this industry and is trusted by one of the biggest property agents in Spain.

 

This is all getting a bit too heavy .  Now, where did I put those beers....