Amateur bob

Gas?

Ok ive been down having a look can anyone that knows let me know if ive got these right? Its strange as it looks like theres 2 water connection points, the 2 pics where it shows either end of a copper pipe im presuming are for gas? Thanks

Good morning i have recent taken delivery of a static caravan which i got cheap from a relative, he is currently on holiday for 6 weeks and uncontactable i was wondering how i go about setting this up there is no handbook or anything its a 2009 Willerby Savoy 35 x 12 Static Caravan i have a good level site for it near water and electric but looking underneath ive no idea what connects where 1.where does the water tend to connect? i see 4 tap like things underneath but after looking online it looks as if these are for draining it 2. at the back underneath there is a copper pipe with a connetion point on the end of it, the pipe looks to run along the inside of the chassi, i am unsure whether to connect water to here as it could also be for connecting the gas cylinder? and help or pics of where to connect would be very helpful thanks!

yes im going to speak to lenders soon i just want to do my homework first and find out what they will all be looking at, the business has some cash in it and also a 100k od facility which its not overdrawn on so some scope there but will depend how the harvest goes, if they could at least get me to wind and watertight stage i could work away doing some of it myself but id rather get the full amount and be done with it

yes that could be a slow process though and material prices could rise as quick as i earn if interest rates were to drop? i may have to consider it though if theyre not going to approve me for the full amount is it likely a lender would give me at least some money to do the build i.e 2/3 or something given my wife is on a secure salary of 20k per year

yes but demonstrates ability to pay a mortgage? i would also need tax returns etc to prove profit

this is interesting as i spoke to a broker and she said some lenders might only want to see 3 months of bank statements from my personal account? and tax returns etc , im hoping this is the case as my partnership accounts have 4 of us in them, myself, brother mum and dad, myself and brother have been taking the largest profit share each year though as mum and dad live in a mortgage free farmhouse and have pensions so dont need as much but a lender might take a different view and say we should all be taking equal shares of net profit and then my profit wouldnt be large enough for the mortgage is it possible your lender was unusually strict on you?

i mean a surplus of cash in my personal account at the end of each month

i wouldnt be able to get a bridging loan to build a house though?

are there any lenders that just focus on valuation and less strict on affordability tests?

do they cover scotland too?

i would like to get started but i had an expensive month in july were i was actually negative 400 due to a tax bill and a few other things so i was thinking of waiting until the end of october before applying for mortgage and giving them bank statements for aug/sept/oct, ive also started making a payment of 2000 extra from the business account to my personal account each month as previously i was just transferring enough to live on i now want to show a surplus to the lender is this a good idea?

ah i thought it would help though? yes theyll probably want to see me clearing at least 1500/month between in goings and outgoings?i had an expensive month in july were i was actually negative 400 due to a tax bill and a few other things so i was thinking of waiting until the end of october before applying for mortgage and giving them bank statements for aug/sept/oct will this likely be sufficient? the online calc says i can borrow 250k

is 6-8 weeks a realistic expectation from mortgage application submission to approval?

im sure i read somewhere that its harder to get a mortgage if the founds are already complete(possibly as lender wont know to what standard theyve bn done without inspection?) but from what your saying it could be the opposite? i could potentially use my own cash to get it to floor slab level and then apply for mortgage?

Yes the affordability will prob be the main one, i am moving out of rented accomodation into a static caravan next month hopefully that will help, did you find it easy enough to get a mortgage with you having a good deposit and owned plot or were they strict on you with the affordability test? ive heard you need 3 months of bank statements aswell as proof of your profits? ive been trying to keep my spending down the last couple of months as ill also need to show ability to pay an 11k tax bill for next year as well as the mortgage!

Thats very strange, surely if you own the plot you can use the asset value to borrow against? less risk for the lender

Good morning i am going to be applying for a self build mortgage soon is there any advice forum members could give me? I was told buildstore were good should they be my first choice? I own plot outright and have builder quotes from 310k to 350k, i have 130k saved up/from sold house, the concern i have is that im self employed although last year was quite a profitable one the year before i only got a 20k profit share(business with 4 partners), my wife is in a job earning 20k per year Am i likely to be able to borrow enough and how long roughly do these mortgage applications take? Any advice would be much appreciated! Thanks

is that true? first id heard of this surely its less risky to lend to a selfbuilder that owns their plot outright?

ah interesting, i should mabye try and register the plot then is this easy enough? ive not actually applied officially for planning or anything to have the static caravan there it was used for sleeping etc at lambing time and i simply rigged it up to the farm electrics and water, does this confuse matters me moving into it full time?

we have a house on another farm where my parents stay perhaps i could claim this as my permanant residence, i wouldnt want charged with mortgage fraud though, if i could get the static classed as permanant residence how would i go about this?

yes i though it might actually help me borrow more but just checking the residence angle

i own the farm the static will be situated on wold that help my case? i could just use the farm name as the adress, theres currently no house on this farm until i get one built

ive a wife and son whos 4 so not a huge family, were you in the static when you applied for the mortgage?