Mortgages!

[Jon_nova1]

These topics seem to be coming up quite abit now i noticedlol

so i know all about the mortgage etc, but being on a crappy wage means i can only get certain things, mortgage companies say you can include upto 50% of your overtime on your income, but would i have to actually do the overtime for when i send proof of income to them to show the overtime? or would i be able to just get them to ask my manager or something?:wtf:

the fact is, i have enough money so don't bother doing OT because i want to enjoy my life lol

[Pistol Pete]

IMO i wouldnt get a mortgage based on or including OT. If it dries up (i'm speaking from experience here!) you could find things a little tight.

Just get it based on your average. Then if you do get OT its extra.

[NovaLad]

Bro in law just set up the same thing...
His average wage is around £450 say a week... so that's what he told them when setting up the mortgage but when he works away and gets the overtime which can be frequent it can be say around 1100 a week.

Which frees up money to be spent on other things...

If the OT is frequent enough you will be more than able to enjoy life and not feel so tied down and skint.

[peester]

around 1100 a week.


crickey i dont get that per month lol

[NovaLad]

Can't wait till the gf goes coll, leaves unit then gets a job... should start off on about 25 - 30k a year then work her way up to about 60k or 80. lol. me hopes :D

[sulphur]

crickey i dont get that per month lol

Amazes me how some people on here earn little(no offense to your wage or whatever), yet spend huge and have money-filled novas. lol

[sulphur]

Can't wait till the gf goes coll, leaves unit then gets a job... should start off on about 25 - 30k a year then work her way up to about 60k or 80. lol. me hopes :D


What's she studying? lol Looking at that wage bracket, you'll be waiting 5yrs at least lol

Hopefully you'll still be with her when she's earning the big bucks. :thumb:

[NovaLad]

Something to do with science...
She's into all that Biology, Chemistry, Physics etc...

She was telling me the other week that even if she just went as a chemist worker they earn around 30k+

Been looking at houses for my future lol.!!!!

[craig green]

Amazes me how some people on here earn little(no offense to your wage or whatever), yet spend huge and have money-filled novas. lol

It's all about priorities & not having them in the right order. lol

Mortgages these days seem to be more about the size of the deposit & choosing what interest rate you think will pan out right in the long run.

[peester]

obviously these 'big spenders' havent got a mortgage..?

nowt wrong with spending your hard earned on your pride and joy.
it the ****ers that get it bougut for them that you might want to direct your moaning at..

[Lynsey]

Damn right Peester :thumb:

[NovaLad]

obviously these 'big spenders' havent got a mortgage..?

nowt wrong with spending your hard earned on your pride and joy.
it the ****ers that get it bougut for them that you might want to direct your moaning at..
Woop! +Rep!

[sulphur]

obviously these 'big spenders' havent got a mortgage..?

nowt wrong with spending your hard earned on your pride and joy.
it the ****ers that get it bougut for them that you might want to direct your moaning at..

I wasn't moaning about anything. :wtf: I don't know your circumstances, income etc. it was merely a statement referring to my own current financial situation. I'm on decent money and can't afford sh!t all.

No need to get touchy :tard:

[Ben]

II'm on decent money and can't afford sh!t all.

Im in that club lol

[Pistol Pete]

Im in that club lol

+1 lol :roll: :(

[Jon_nova1]

wow, i thought oooh 2 pages, they'll be lots of useful mortgage related information for me to read on lol

I have a 20K deposit, the having to work overtime isn't a problem, its due to the wage that i'd be limited to what i can get off the bank, i wouldn't have to do any overtime to afford the mortgage as it would only be around £300-£350PM, its just the banks will only allow a certain a certain amount based on wage, when really i'm earning 4 times the mortgage cost Per month or six times more based on the minimum overtime they have per week.

[Hayley]

wow, i thought oooh 2 pages, they'll be lots of useful mortgage related information for me to read on lol

I have a 20K deposit, the having to work overtime isn't a problem, its due to the wage that i'd be limited to what i can get off the bank, i wouldn't have to do any overtime to afford the mortgage as it would only be around £300-£350PM, its just the banks will only allow a certain a certain amount based on wage, when really i'm earning 4 times the mortgage cost Per month or six times more based on the minimum overtime they have per week.

I had that problem when I was looking at getting a mortgage. got a fair deposit and take home £1600 a month but I couldnt get anything near to what I needed. Have you considered one of those Homebuy shared ownership things?? I looked into it coz I would only need to find a £70k mortgage on a £140k flat. the other £70k was rent that you paid to the Council. Quite a good scheme I thought.

[Jon_nova1]

a 140K flat? its not that posh round here lol

a 3 bed house with 2 bathrooms a driveway and garage are up for 90K with the property needing abit of work

[Hayley]

a 140K flat? its not that posh round here lol

a 3 bed house with 2 bathrooms a driveway and garage are up for 90K with the property needing abit of work

90k!! :eek: dam, im moving up north

[Jon_nova1]

lol you could do

you may want to check out london and country

http://www.lcplc.co.uk/

they offer free independant advice, you tell them what you need and they'll tell you the best thing to do, they managed to find me a natwest mortgage at 2.49% just in my upper limit, which is why i want to see about the overtime thing, so when i come to get it they'll be no problem

I also tried moneysupermarket.com, they were crap with advice lol

[Rob]

Amazes me how some people on here earn little(no offense to your wage or whatever), yet spend huge and have money-filled novas. lol

lol i,m on minimum wage,got a mortage,3 kids,1 cavalier, two novas ones an xe and the others a t40,d 1.4 loon it all works somehow lol :thumb:

[peester]

yeah i was abit mardy yesterday lol

its prob because i couldnt afford the things ive done to my car lol

[NovaLad]

brother in laws is 120k house. 4 bedrooms. 3 toilets. 2 bathrooms 1is the ensuite to the master bedroom, little drive with a garage and quite a big garden. that's the north for ya. yet you go london and you're paying that for a dinky flat.