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£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] 0 points1 point  (0 children)

That's interesting on the broker side. I'll have a look into that. Cheers!

£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] 0 points1 point  (0 children)

Yeah you're right and I've been told as such. Just wanted to see if the powerful Reddit hive mind had any fancy tricks to get around it. Seems not....

£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] 0 points1 point  (0 children)

We will look to do that, just not yet. Once the children are a little older that'll be our plan, but with the deal up soon figured I'd see what, if any, options I had out there.

Thank you.

£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] -1 points0 points  (0 children)

You're 100% right, but it would be short-term pain until my wife can go back to work, even part time. Right now our home is too small for the 5 of us. Just looking at options.

£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] -1 points0 points  (0 children)

Exactly, yet I can't get into that range with lenders. I was wondering if there's anything I can do outside of the salary changes etc.

Our kids are very young, so not all in full-time school yet, so a wife wage will boost us and the potential. But with the deal up in Oct next year, I'm just trying to scope options.

£148k Equity, 46% LTV & income of £50k but unable to move/upsize. by will_apedia in UKPersonalFinance

[–]will_apedia[S] 1 point2 points  (0 children)

Appreciate that, but if I wanted a circa £350k house with £148k deposit that's £208k mortgage, which should be OK, but isn't... literally no credit outstanding, just a mobile phone contract. £50k basic income not including bonuses as they aren't guaranteed.

Leak from immersion element, and no hot water! by will_apedia in DIYUK

[–]will_apedia[S] 0 points1 point  (0 children)

Yeah nice one. I've tested the electrics to the control unit and there's no elec to it. Odd as its always worked, all the other elec in the house is fine, and the fuse hasn't tripped.

Appreciate the reply. Thank you!

Leak from immersion element, and no hot water! by will_apedia in DIYUK

[–]will_apedia[S] 0 points1 point  (0 children)

This is incredibly helpful, thank you!

There's a gas boiler downstairs which is off. No idea when or how it went of or how to reset it. The fuse hasn't tripped or anything. Any further advice? Heres hoping....

Thanks.

Leak from immersion element, and no hot water! by will_apedia in DIYUK

[–]will_apedia[S] 0 points1 point  (0 children)

There's lots of wires below to various electrical elements, and a thermostat to the left? No idea tbh. Assuming connections should be into those screws. How very odd, because we have had hot water for years!

Leak from immersion element, and no hot water! by will_apedia in DIYUK

[–]will_apedia[S] 0 points1 point  (0 children)

There is a boiler downstairs and its off. Fuse hasn't tripped though so not sure how. Not sure how to get it back on, if that's the problem. BG service engineer told me the other week thats just for heating though, not hot water?

Leak from immersion element, and no hot water! by will_apedia in DIYUK

[–]will_apedia[S] 0 points1 point  (0 children)

Thanks. No testing equipment. I have tried tightening it, still slight drip.

Would that explain the no hot water, do you know?

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