I run a small mortgage broking business, every now and then I like to post up conversations I have with potenial clients
******kwit: Hi I need a BTL mortgage for £320,000
Me: Ok Sir do you have a 25% deposit
******kwit eh 25% oh eh, right 25% you sAY
Me: yes sir minimum 25% depsosit + arrangement fee of 2%
******kwit:I have 5% in savings, right well I could use the draw down facility on my mortgage account
Me: Sir thats like 70k
******kwit: yeah my wife says with a reccesion on now is not a good time to buy
Me: Dont listen to her what does she know
******kwit: your right, I am off to see my bank mananger will call back later.
Would love to be a fly on the wall in his house when he tells his wife he just added 70K plus fees to his mortgage so he can make 300 quid a month.
This guy is going to bet his savings, his mortgage and his equity so he can make 300 quid a month.
will keep you posted if he phones back