Reply to: Mortgages 101

[yasockie]

Up to 600k

Thank you
Admin: please delete all the other O/T posts

[Old Hack]

For arguments sake, imagine I was a MATHEMATCIAL GENIUS, stay-at-home-dad (well, ok, I don't STAY-AT-HOME with him per se, he's sent away to nursery, and a nanny), who had TWO clients, both paying me WELL OVER £1000/day for pretty much doing sod all, how much could I borrow then?

ftfy

[Old Greg]

For arguments sake, imagine I was a MATHEMATCIAL GENIUS, stay-at-home-dad, who had TWO clients, both paying me WELL OVER £1000/day for pretty much doing sod all, how much could I borrow then?

A shed load of cash.

[DimPrawn]

This will depend on what your deposit is but more importantly, what is affordable to you on a monthly basis after calculating all essential outgoings.

As a contractor, you have 2 options. Firstly you can either work off your limited company salary and dividend figures or net profit and salary depending on which bank you approach. The second option is to work off your daily rate. Lenders that are sympathetic to contractors will take your daily rate - multiply that by a 5 for a 5 day week and then multiply that by 48 to assume you give yourself 4 weeks off a year.

For arguments sake, imagine I was a MATHEMATCIAL GENIUS, stay-at-home-dad, who had TWO clients, both paying me WELL OVER £1000/day for pretty much doing sod all, how much could I borrow then?

[Old Hack]

You didn't think this was a serious post worthy of a serious answer did you?

He's on commission; I'd venture if someone mentioned they were entertaining the thought of entertaining the thought of remortgaging he'd respond.

I know i would!

[Old Hack]

Question is: Do I want a £20 million house? sasguru

ftfy

[nomadd]

Lenders that are sympathetic to contractors will take your daily rate - multiply that by a 5 for a 5 day week and then multiply that by 48 to assume you give yourself 4 weeks off a year.

Question is: Do I want a £20 million house?

[Ticktock]

This will depend on what your deposit is but more importantly, what is affordable to you on a monthly basis after calculating all essential outgoings.

As a contractor, you have 2 options. Firstly you can either work off your limited company salary and dividend figures or net profit and salary depending on which bank you approach. The second option is to work off your daily rate. Lenders that are sympathetic to contractors will take your daily rate - multiply that by a 5 for a 5 day week and then multiply that by 48 to assume you give yourself 4 weeks off a year.

You didn't think this was a serious post worthy of a serious answer did you?

[nomadd]

Yes, he has already used '/' in addition to 'p', where one of them is clearly superfluous. I wouldn't lend money to someone like that.

P-p-p-per day.

Boy has a stammer. Leave him alone, you bully.

[Old Hack]

Up to 600k

[MaryPoppins]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

Ah, well. The 'London' daily rate [per day] would make all the difference.

[Martin@AS Financial]

With the new rules in places, for the first time in my life, I have found interest in mortgages.
Assuming a generous London daily rate of 500GBP/pd what sort of mortgage does that entitle me to?

This will depend on what your deposit is but more importantly, what is affordable to you on a monthly basis after calculating all essential outgoings.

As a contractor, you have 2 options. Firstly you can either work off your limited company salary and dividend figures or net profit and salary depending on which bank you approach. The second option is to work off your daily rate. Lenders that are sympathetic to contractors will take your daily rate - multiply that by a 5 for a 5 day week and then multiply that by 48 to assume you give yourself 4 weeks off a year.

[Old Greg]

What's your deposit?

Have you done a budget planner?

And how often do you intend to bleed your radiators?

[SueEllen]

What's your deposit?

Have you done a budget planner?

[Old Greg]

This is going to end in tears.

Yes, he has already used '/' in addition to 'p', where one of them is clearly superfluous. I wouldn't lend money to someone like that.