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Saturday, April 21, 2007
Beck
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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
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21 Apr 2007 1:48 PM
hudsey
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Hi, Smiley is the man to ask, send him a PM.
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22 Apr 2007 6:36 PM
EOS Team
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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.
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22 Apr 2007 10:50 PM
MaggieB
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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?
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22 Apr 2007 11:13 PM
Smiley
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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.
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NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
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22 Apr 2007 11:25 PM
MaggieB
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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!
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22 Apr 2007 11:31 PM
Smiley
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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
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com
Sarcasm is the lowest form of wit .....but any form of wit is an achievement
NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING!
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23 Apr 2007 1:04 AM
MaggieB
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Smiley,
What happens with contract workers abroad? and numerous employers??
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23 Apr 2007 10:59 PM
Smiley
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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.
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com
Sarcasm is the lowest form of wit .....but any form of wit is an achievement
NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING!
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02 May 2007 6:20 PM
jenni07
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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.
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02 May 2007 6:39 PM
JeansSis
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This message was last edited by JeansSis on 5/18/2007.
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02 May 2007 10:29 PM
mags59
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Hi Smiley,
Did pm you with basic details last week as not for forums?
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03 May 2007 2:31 AM
jenni07
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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.
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03 May 2007 5:08 PM
Smiley
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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?
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com
Sarcasm is the lowest form of wit .....but any form of wit is an achievement
NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING!
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03 May 2007 5:54 PM
jenni07
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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!!!!
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03 May 2007 6:40 PM
Smiley
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PM me with his e mail address and I have the ideal problem for him to solve
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com
Sarcasm is the lowest form of wit .....but any form of wit is an achievement
NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK.
TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING!
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03 May 2007 7:12 PM
leeabby
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I'm in Old Kilpatrick, Glasgow approx 20 minutes from Loch Lomond/purchasing in Almoradi,Costa Blanca, 10 mins inland from Guardamar Beach/25 mins from Alicante airport
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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
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03 May 2007 7:13 PM
JeansSis
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This message was last edited by JeansSis on 5/18/2007.
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03 May 2007 7:22 PM
jenni07
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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.
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03 May 2007 11:10 PM
EOS Team
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This is all getting a bit too heavy  . Now, where did I put those beers....
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