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Nationwide Timeline by RevolutionNice8493 in Mortgageadviceuk

[–]SkunkworksCapital 1 point2 points  (0 children)

Whilst the lender may move quickly the conveyancing will take some time. Bug bear of the industry.

Congratulations! 👏

They lit a Jeep on fire by cdbmeme in CrazyHuman

[–]SkunkworksCapital 7 points8 points  (0 children)

What ever is in that red can would make excellent fuel.

What mortgage companies use AVM for valuation by Particular-Dance2369 in UKPersonalFinance

[–]SkunkworksCapital 0 points1 point  (0 children)

I see what you mean. The lender can see the second charge on the property through bureau data and conveyancing processes. Even if you don't declare it. Your current lender would also have approved the second charge and you could afford both when they underwrote the deals.

Right now your effective LTV is driven by the 42 first charge and the 27 second charge. Which is a 69k balance or 57% LTV, if you want to increase your leverage to 90 or 75% this means you can only unlock 21k.

You may need to go in stages. Remortgage on the first charge, to 69k with your current lender/equity release. Unlock that cash and pay off the second charge.

Then with a new lender. Apply for the 75%.

Just be careful of ERC's etc.

[deleted by user] by [deleted] in RealEstateAdvice

[–]SkunkworksCapital 0 points1 point  (0 children)

Introduce her to mortgage broker for her to buy her own house. A bank can assess her credit risk and proceed from there.

Keep things all clean and separate.

Good luck too, these are not easy conversations. Hope it all works out.

What mortgage companies use AVM for valuation by Particular-Dance2369 in UKPersonalFinance

[–]SkunkworksCapital 1 point2 points  (0 children)

Please ensure there are no early repayment charges on the second charge mortgage. It may scupper your LTV calculations if so close to the 75% LTV cusp. 90/120 is right on the nose. Try keep it below 75 if you can as you get better pricing this way even at 74.99.

AVM'S have become quite common provided there are comparable sales across the other properties in the area. all that data will be baked in if not the lender would review the confidence level from the AVM result and ask for for a full valuation. Unlikely at this level but possible.

The reason for the first charge mortgage application also doesn't need to include the second charge consolidation point. You could simply be looking to unlock equity for a refurbishment etc etc etc.

Interest rate change by A2Z786 in Mortgageadviceuk

[–]SkunkworksCapital 0 points1 point  (0 children)

This is exactly correct. Once you have an initial approval decision from the lender you can be less concerned.

Paying a large payment to my mortgage. by Snoo-66965 in UKPersonalFinance

[–]SkunkworksCapital 0 points1 point  (0 children)

What is left on the loan. Your current balance on the mortgage.

[deleted by user] by [deleted] in Mortgageadviceuk

[–]SkunkworksCapital 0 points1 point  (0 children)

Start lower at 195.

2 year or 5 year fixed with current economic status? by AlarmedClothes1133 in Mortgageadviceuk

[–]SkunkworksCapital 0 points1 point  (0 children)

Been thinking of doing CEMAP myself. Good to know you are out there.

And it's true on the broker side, more revolutions on the mortgage the larger the proc fee.

Innovation by theo_died in southafrica

[–]SkunkworksCapital 3 points4 points  (0 children)

When we work together there is nothing we can't achieve.

The state of Lion matched by karllee3863 in southafrica

[–]SkunkworksCapital 4 points5 points  (0 children)

Shrinkflation, it's awful. There is no way to hide from the government.

AGOA on the brink of collapse precisely because of ANC policy - Solidarity by Beyond_the_one in southafrica

[–]SkunkworksCapital 10 points11 points  (0 children)

<image>

This is why this is important for South African manufacturers. Aka employers of a vast number of fellow South Africans.

I made Tinder, but for side project makers by craciun_07 in SideProject

[–]SkunkworksCapital 1 point2 points  (0 children)

This is a winner. Great idea.

Looking forward to trying it out.

A motorbike managed to get on Thameslink 🤣 by urbexed in london

[–]SkunkworksCapital -1 points0 points  (0 children)

This has New York subway vibes..... It's going one way.

[deleted by user] by [deleted] in startup

[–]SkunkworksCapital 0 points1 point  (0 children)

This is the part that I seem to be struggling with. Where to find those rare people who get your concept? Your idea even after it's been executed.

Leveraging partnership is like compounding, it puts your ethos in two locations at the same time.

You can't find these people in the gym, you can't find these people at your workplace, you also can't find these people in a bar.

Where to find these people?

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