Hi all, I have a friend whose offer has been accepted on a property.
Problems:
1. he is immigration visa tier 1 - Entrepreneur Visa
2. he has outstanding 30K on credit cards
Solutions:
1. Some lenders will consider lending him like Halifax, Santander, etc..
2. he is raising 100k by selling his current flat to pay 15% deposit and clear off his debt
BUT, lenders are not considering that he will pay it off. I am unable to understand, what makes them think this and how do we explain them that of 100K, his 15% deposit is 54K + 10K buying expense and rest he can use to repay his credit cards? Is it so difficult for the underwriters to understand???!!! Need somebody who can help us resolve this situation.
CAN ANYONE HELP OR RECOMMEND SOMEONE WHO CAN HELP?