how can I get a mortgage without proof of income?

Pdocherty

Hi Jacka87,

Yes it is certainly relevant - HSBC wouldn't consider me as apparently they don't lend on fixed term contracts of employment at all. Clydesdale Bank did say that they were happy to treat it as a fixed term contract and they do lend on those in some situations, for instance teachers.

Dan_1976

I have set up mortgages in the past for this sort of situation with smaller deposits. The market was in a very different position but I am sure a good broker could help.

Why do you not have proof of income? If you are getting cash in hand a: you have to declare it b: you cant use it as it's not legal income

nervousftb_3

you may get a mortgage, but it will be hard work at the moment! i am a postgrad too and i get a grant of about the same as you. recently got a mortgage with my OH (who earns a 'normal' wage) and it was very difficult. the majority of lenders will not take your grant into account (we were refused by britannia, halifax, and some others). some will count it, but will only take 75% as income. the fact it runs out in 14 months is also going to be an issue. i was lucky in that we had my partner's wages to take into account, and also that my grant lasts until 2012, otherwise i don't think we would ever have got a mortgage (less deposit and higher value than you are looking at though).

i am not saying it is impossible, just that you need to be prepared for a bit of a struggle to get people to understand your circumstances fully. your large deposit will definitely help too. as for proof of income, you will need payslips from your job and some proof of your grant from the university - i just had a letter stating the amount and the duration and that was sufficient. they may also wish to see your bank statements as additional proof that you have a certain amount of money paid in per month/quarter by your uni.

good luck!