trying to remortgage

matty_hunt

Hi. Im hoping that some money guru on here can help me out.

My situation:
Mortgage free. Have £1 nominal balance with Nationwide.
House worth about £170k
Do not work.
Currently fixing house up to rent out as Im moving in with other half.

What I'd like:
I need to raise £50 to 60k for a short term investment, about a year.

Problem:
Nationwide will not extend me the money as I dont work. Is there anyone how will, using the house as security? Do you think I could remortgage my own place as a buy-to-let? Any other ideas?
Much appreciated.

Thrugelmir

matty_hunt wrote: »

Problem:
Nationwide will not extend me the money as I dont work.

Without an income then there's no chance. Should be obvious as to the reasons.

Conrad

A couple of lenders allow a refurbishment mortgage without earnings as long as you genuinely plan to NOW move out and into some other property.

They also do buy to let, so something could be possible. Earnings are not required.

matty_hunt

Thanks for the response. So, would a buy to let on my own property be straight forward? Is there anything I need to look out for or pitch the correct way when applying?
Thanks