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Mortgage for Moving Area
InDebted2U_2
Posts: 379 Forumite
How easy is it to get a mortgage to buy a house in another area? My current income will support the mortgage I need, which will be around 30% of the value of the new home. However, where I want to buy/move to is not within commuting distance of my current job. I assume lenders would take this into account? Am I trapped in a Catch 22 situation or will some lenders lend regardless of location? Could I get a 'no proof of income' mortgage? Would a buy to let mortgage be an option, even though I want to live in the home (and the stamp duty etc would be higher if I BTL)? Generally, what are my options?
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I would recommend a broker who can find a lender who will be ok with this.
Are you going to get a job where the house will be?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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