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Mortgage for the unemployed?

getgobby
getgobby Posts: 78 Forumite
Part of the Furniture
in Mortgages & endowments
Is is possible in today's climate to be able to apply for a mortgage whilst being unemployed?

The houses/flats I'm looking to buy fall in the 160-180k range, and I have a deposit of 2/3 that amount.

If I'm unable to obtain a standard mortgage, is there anyway of obtaining a BTL mortgage with a massive deposit, and saying that the income on the rent can pay the mortgage off?

Thanks in advance

Comments

  • TrickyDicky101
    TrickyDicky101 Posts: 3,535 Forumite
    Part of the Furniture 1,000 Posts
    How do you intend to pay the mortgage if you are unemployed?
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Absolutely no chance,

    Why not buy something smaller with the cash that you have and have an actual income from that.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • getgobby
    getgobby Posts: 78 Forumite
    Part of the Furniture
    TrickyDicky101 wrote: »
    How do you intend to pay the mortgage if you are unemployed?

    I make money from playing poker
  • getgobby
    getgobby Posts: 78 Forumite
    Part of the Furniture
    McKneff wrote: »
    Absolutely no chance,

    Why not buy something smaller with the cash that you have and have an actual income from that.

    I'm looking to buy in the SE, theres nothing for 120k or less (except perhaps, retirement flats).

    Basically I'm looking for a self cert, or BTL mortgage. Anyone help?
  • TrickyDicky101
    TrickyDicky101 Posts: 3,535 Forumite
    Part of the Furniture 1,000 Posts
    As McKneff says I don't think you will get one. A cheaper property would seem to be the obvious solution. Or continue to save until you are in a position to buy a place at this level without borrowing.
  • getgobby
    getgobby Posts: 78 Forumite
    Part of the Furniture
    TrickyDicky101 wrote: »
    As McKneff says I don't think you will get one. A cheaper property would seem to be the obvious solution. Or continue to save until you are in a position to buy a place at this level without borrowing.

    thanks. I guess I'll just have to wait another 6 months or so :(
  • evosy1978
    evosy1978 Posts: 652 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    getgobby wrote: »
    thanks. I guess I'll just have to wait another 6 months or so :(


    thats some big wins on the Poker. :D
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