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High deposit and mortgages
truTy
Posts: 1 Newbie
Hi everyone, I'm looking to buy a house and have quite a high deposit (about 180k -incredibly generously gifted from family), however in the last 5 years I've not had the most stable or high earning income, and to top it all off I have been self employed for the last couple of months but currently do not have any jobs to take so I'm presently seeking employment elsewhere.
I want to buy a house that is about 260k, but I'm not sure anyone would give me a mortgage to cover the rest of the balance. My credit history isn't bad, I think it is just my employment record, any ideas on how to proceed? I'm just a bit lost in all of the information you can find on the internet!
I want to buy a house that is about 260k, but I'm not sure anyone would give me a mortgage to cover the rest of the balance. My credit history isn't bad, I think it is just my employment record, any ideas on how to proceed? I'm just a bit lost in all of the information you can find on the internet!
0
Comments
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Go and have a non obligation chat with a mortgage advisor at your local bank. They can give you an idea of what they would lend
super helpful to have done. 0 -
You could just buy a lovely 180k house and have no mortgage. What a dream that would be!0
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you will need to show the banks you are capable of funding the monies required to repay a 80k mortgage. That amount will depend on the term of the mortgage you choose and the IR but are you capable (ie do you have evidence) of demonstrating this? If you have been paying £1k rent each month for 3 years or something then presumably you can.0
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