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Student trying to get mortgage

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Comments

  • poppy10_2
    poppy10_2 Posts: 6,597 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Supreme wrote: »
    How exactly are you planning on getting a £200k mortgage as a student on 'low income'? Logic says you would need approximately £50k/yr salary to get that amount.
    If it's a buy to let then it will go by rental income rather than salary
    poppy10
  • Cannon_Fodder
    Cannon_Fodder Posts: 3,980 Forumite
    Living in it will stop it being BTL, afaik. Which stops the rental income being able to be set against the mortgage. Comes back to the lack of income.

    If somehow it did qualify for BTL, OP would need 125% of mortgage in rent, which doesn't appear to be covered, anyway.

    Will new HMO rules apply?

    LTSB 'Lend a Hand' etc will need approx £50k income to support the size of mortgage being sought, not being BTL.
    Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.
  • robin_banks
    robin_banks Posts: 15,778 Forumite
    Part of the Furniture Combo Breaker
    You haven't a cat in hells chance of getting a mortgage.

    Which is reassuring tbh.
    "An arrogant and self-righteous Guardian reading tvv@t".

    !!!!!! is all that about?
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