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buy-to let mortgage while unemployed
mike8888
Posts: 13 Forumite
Hello,
Can someone please tell me whether it is possible to obtain a buy-to let mortgage while unemployed?
I am at present a full-time student, and have no income, but I can provide a deposit of £150,000 towards a flat purchase. I am thinking of buying a flat costing about twice that figure, and renting it out, thus paying the interest on the required loan. Hence my query is, will anyone lend me the extra £150,000 or so to buy the flat?
I do have additional assets; I own outright my present home, valued at about £150,000, and have about £50,000 in cash, which I can live off until I find a job.
Any advice welcome.
Cheers,
Mike.
Can someone please tell me whether it is possible to obtain a buy-to let mortgage while unemployed?
I am at present a full-time student, and have no income, but I can provide a deposit of £150,000 towards a flat purchase. I am thinking of buying a flat costing about twice that figure, and renting it out, thus paying the interest on the required loan. Hence my query is, will anyone lend me the extra £150,000 or so to buy the flat?
I do have additional assets; I own outright my present home, valued at about £150,000, and have about £50,000 in cash, which I can live off until I find a job.
Any advice welcome.
Cheers,
Mike.
0
Comments
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Given your situation, this should be achievable.
You are highly likely to require a mortgage broker mind you, as many of the buy to let lenders deal exclusively with brokers.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks for the advice.
Cheers,
Mike.0
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