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If you have large deposit, with alot still left in the bank.

A large deposit, money in the bank. Can you get a Mortgage? I am planning on renting a room out.. plus maybe cheap buy to let outside London.. to cover Mortgage payments... any replies much appreciated..

Asked on Mar 26 2010, House Prices in New Malden | Report content

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  • I can't see why not unless you have a bad credit history or something which may go against you but most mortgage companies are now slackening the lead a bit so good luck.

    Answered on Mar 27 2010, Report content
  • As long as you have a credit worthy history and income to support repayments, buy to let will be fine as long as the rental income supports the mortgage payments. If you do not have an income telling the bank you are renting a room out will probably not be suffice. If you would like independent financial advice I can get my broker to contact you.

    Answered on Mar 27 2010, Report content
  • Yes seems fine, unless your credit rating is low. Not sure having a large amount in the bank will help!! your better of shrinking your deposit, but for safety sake its good to keep.

    Answered on May 4 2010, Report content

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