Mortgage for a low income? Do these exist

elfy100

Hi, I am currently on a svr with Northen Rock after coming out of my fixed rate last year, at the time I had just been made redundant so didn't look for a new deal as I didn't think there would be any point. Luckily I got a job quite quickly, however on a very much lower salary than I was previously on. My question is will there be any mortgage providers willing to give me a new deal? My new salary is just over £15,000, I've worked out my LTV at 85% and I have never missed a mortgage payment or been late with one even duing my unemployment. I am however, just under my credit limit for one of my cards, despite not using it for sometime. I am just about keeping my head above water but with talk about rates rising I am very keen to get something fixed......any help/advice will be very much appreciated as I am very worried about this.

_Andy_

Impossible to say given you haven't mentioned how much you owe on the mortgage

opinions4u

Mortgage for a low income? Do these exist

Yes. They tend to lend you less money than they would advance to those on high incomes.

elfy100

Hi, £70,000 - hope this helps...thanks

_Andy_

Not aware of a lender that will go that high.