mickie smyth
New Member
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- 2
I'm pretty sure I already know the answer to this question.
I know we don't want to go back to crazy days, but do any banks / lenders offer any very low deposit options for buying a 2nd hand house with the long term plan being to sell it (unless the tax treatment of renetal income ever improves). I have about 500 in equity on our house, and have an oppertunity to buy a house nearby that would make quite a bit with only a small amount of works. While I've equity and have a good income, I don't have a cash stockpile as we've just gone through having our kids and I've been doing up our own house.
I know the official rules re affordability, but was wondering if anyone knows if practice if exceptiosn are made for that for equity. / secure jobs (public sector x 2) etc.
I know we don't want to go back to crazy days, but do any banks / lenders offer any very low deposit options for buying a 2nd hand house with the long term plan being to sell it (unless the tax treatment of renetal income ever improves). I have about 500 in equity on our house, and have an oppertunity to buy a house nearby that would make quite a bit with only a small amount of works. While I've equity and have a good income, I don't have a cash stockpile as we've just gone through having our kids and I've been doing up our own house.
I know the official rules re affordability, but was wondering if anyone knows if practice if exceptiosn are made for that for equity. / secure jobs (public sector x 2) etc.