Mortgage Feasible?

fiveyear

Hi

Are there any experts that can advise on whether this scenario is feasible?

I am looking at the possibility of taking an Interest Only mortgage for £250k.
The property is worth £290k

My Permanent Salary is £42k. However, my partner has just started a new business (only been running for 3 months) a projected income would be around £15k.

We have a few unsecured debts but these will be paid off by the re-mortgage.

Credit rating is excellent for the two of us.

Many Thanks, JB

homer_j_3

Is it feasible - possibly.

Depends on your partner more than anything. You could look to self-cert but with minimal trading, it might mean you are going into a very expensive arena at the moment. If your partner was doing something similar prior to going self employed and has had a solid work history prior to that then there are people that would look to help if your credit is excellent and everything else stacks up.