goldypurple Posted August 19, 2013 Report Share Posted August 19, 2013 My wife and i are currently looking to purchase our first house Im looking at one thats £250,000 with 4 acres of land, ive only seen it advertised at the moment and havent contacted an estate agent, it said in the listing that the building is part constructed of prefab concrete, would i be able to get a mortgage on a property of that construction. Also what is he likelyhood of us getting a mortgage, we have a large deposit nearly have of the value, but unfortunately i have defaulted recently on a couple of cards i have. what does pigeon watch massive say Quote Link to comment Share on other sites More sharing options...
al4x Posted August 19, 2013 Report Share Posted August 19, 2013 simply the construction is of varying importance, personally I have bought all sorts over the years the one before last was largely falling down with asbestos sheet roof and no issues but I did only have the minimum survey. The financial side is another issue with that deposit you do get more leeway but don't bank on more than 4x joint salaries and the cards might well be an issue, personally I would clear them and have a smaller deposit if you can but even that they may well still use it to charge you more for the mortgage Quote Link to comment Share on other sites More sharing options...
Penelope Posted August 19, 2013 Report Share Posted August 19, 2013 My house's construction is of pre-caste concrete and I got my mortgage through Santander. Just going through the process of remortgaging at the end of the 5 year deal and have offers in principle. Quote Link to comment Share on other sites More sharing options...
jasper3 Posted August 19, 2013 Report Share Posted August 19, 2013 I am in the same boat found a barn conversion with 6 acres .... couldn't get a mortgage until i buy the barn (scratches head) but could get a mortgage to do it up .... anyway...i found a cheaper barn with 5.5 acres . half the price of the 1st barn so fingers crossed..i may not need a mortgage now this credit rating is a pain...being self employed has always had me wealthy one minute , poor the next Quote Link to comment Share on other sites More sharing options...
Mikaveli Posted August 19, 2013 Report Share Posted August 19, 2013 what is he likelyhood of us getting a mortgage, we have a large deposit nearly have of the value, but unfortunately i have defaulted recently on a couple of cards i have. Do you mean that you missed a month's payment on a couple of your cards or that you actually 'defaulted' the account (missing 6 months of payments, then having the accounts closed). If it's the former, it's not a massive issue - particularly if you have a deposit bigger than 30% of the mortgage value. If it's the latter, you'll struggle to find a mortgage for at least three years after the default - 6 if you don't clear it yourself. If you've got "nearly have of the value" of £250k, why not just buy a house for cash and then save up? A £150k mortgage will cost you around £850-900p/m for 25 years! Saving that amount at the same rate would take less than 14 years (and you wouldn't be in t'shiz if you lost your job etc). Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted August 19, 2013 Report Share Posted August 19, 2013 Brown Sauce on here is great, just sorted out mine. Will get him to message you. Quote Link to comment Share on other sites More sharing options...
bullet1747 Posted August 19, 2013 Report Share Posted August 19, 2013 Just got rid of mine three weeks back it's great , Quote Link to comment Share on other sites More sharing options...
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