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Can I get a mortgage?
julsxx
Posts: 11 Forumite
I would like to move location and buy a house renovation and leave a sum of money in the bank for this. My Deposit would be fairly substantial but as I am moving would not have a job immediately. Would I be able to get a mortgage? My plans are to rent a couple of rooms out for income, but get a job asap once moved and renovations are done.
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Comments
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Do you have a job now?
How far away are you moving?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
No income would mean you won't get accepted for a mortgage.
What will be your LTV ratio?"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
This is not practical as far as lenders are concerned Juls.
If they are to lend you money they will want to be confident you have sufficient earned income coming in and will continue to do so.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 -
Thank you for your replies, I am moving about 50 miles away, I do have a job at the moment, am planning on buying a house for about 80,000 with a deposit of 30,000 so would need a mortgage of 50,0000
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