It’s weird, when I was looking to buy I had to have an AIP before the estate agents would even let me book viewings, otherwise it was a waste of their time completely.
Same here. The first time I bought a house, I had to have the deposit (I think it was 5% minimum back then!) as well as a mortgage in principle
(I think that’s what is was called). Before any viewings were booked, I had to have met with my mortgage advisor who sorted out the mortgage, so I knew how much I could get a mortgage for, how much I had in savings, and then look at houses in my price range. I’d assume it’s the same now still. It’s unlikely that sellers, estate agents etc would show potential buyers around, without something concrete to prove they could buy.
As she’s self employed, it would make things a little trickier, as you have to provide 2 years worth of regular income. Surely, they’ll be huge gaps, as she stated at Erin’s for months, and there’s no way she could have been working and earning a lot during that time.
If you’re self employed and have months where you don’t earn much, then getting a mortgage isnt possible. Her pyramid scheme nail “business” is o my something she’s done for 2 months, again, not something that the mortgage lenders would be able to see was sustainable. Like someone else said, they pick through bank statements, and £11.25 Henry Hoover £3.50 eye lash curlers, using going to pass as an income stream!
Now, she will likely get some form of benefits for her children who are autistic, and also I’m sure shell get similar to a foster carers payment for lady Lyra. Plus, child maintenance off her son’s dad. Whilst they do look at these amounts, they aren’t going to be reliable amount to go towards monthly mortgage payments.
Not only does she need a mortgage, and to save up £40k deposit, she then needs to have enough coming in each month, to pay the mortgage each month.
£400 000 house amount
£40 000 deposit= £360 000 mortgage owed.
Over 20 years (so she’d be 60) and not including extras, type of mortgage etc, she’d probably be paying £1500 a month. She’ll have to sell an awful lot of stick on nails in a month, oh, I forgot, she will make millions for selling her “online courses bundle” for £25 a pop. No one knows what the course is about, and even the promise of a few free PDF’s, won’t up the sales I don’t think. Maybe she can melt down all the metal pins she got for selling the most fake nails off the popularity of her “best friend”
How many rooms do they actually need? How many FT dependents?
Lady Lyra
Alex
Ifan
Doylan
Charlie
(Apologies for the spellings) They could have a 4 bedroom house, four boys split over 2 rooms, Lyra in one and Chris and Abi in another.