Mortgage Advice

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21 Apr 2007 00:00 by Beck Star rating. 1 posts Send private message

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 13:48 by hudsey Star rating in Hexham, Northumberla.... 120 posts Send private message

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



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22 Apr 2007 18:36 by EOS Team Star rating in In Spain of course!. 4018 posts Send private message

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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 22:50 by MaggieB Star rating in Dunfermline,La Marin.... 52 posts Send private message

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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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Mags



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22 Apr 2007 23:13 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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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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Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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22 Apr 2007 23:25 by MaggieB Star rating in Dunfermline,La Marin.... 52 posts Send private message

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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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Mags



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22 Apr 2007 23:31 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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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   www.comparetravelcash.co.uk




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23 Apr 2007 01:04 by MaggieB Star rating in Dunfermline,La Marin.... 52 posts Send private message

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Smiley,

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


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Mags



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23 Apr 2007 22:59 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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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   www.comparetravelcash.co.uk




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02 May 2007 18:20 by jenni07 Star rating. 5 posts Send private message

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 18:39 by JeansSis Star rating. 2377 posts Send private message

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



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02 May 2007 22:29 by mags59 Star rating. 6 posts Send private message

Hi Smiley,

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





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03 May 2007 02:31 by jenni07 Star rating. 5 posts Send private message

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 17:08 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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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?

_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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03 May 2007 17:54 by jenni07 Star rating. 5 posts Send private message

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 18:40 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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

_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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03 May 2007 19:12 by leeabby Star rating in Old Kilpatrick, Glas.... 140 posts Send private message

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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 19:13 by JeansSis Star rating. 2377 posts Send private message

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



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03 May 2007 19:22 by jenni07 Star rating. 5 posts Send private message

 

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 23:10 by EOS Team Star rating in In Spain of course!. 4018 posts Send private message

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

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Schools in Spain Guide | The Expat Files | Learn Spanish | Earn a living in Spain




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