We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Getting a mortgage with low income
blue_max_3
Posts: 1,194 Forumite
I am looking to buy a property and have the cash to buy it outright.
However, it is my belief is that I would be better to take out a mortgage and keep some cash aside. Given the paltry mortgage rates, it is something I'd rather take the chance that I could invest the cash over time and outstrip the mortgage. But I digress.
Given I am self-employed (director of limited company), my income is low. And I'm potentially going to move away from my current job, so it may be close to zero.
I take it, I'm unlikely to get a reasonable mortgage? Is there any other options for me? Would buying the property and then trying to refinance help my situation?
Thanks for any thoughts.
However, it is my belief is that I would be better to take out a mortgage and keep some cash aside. Given the paltry mortgage rates, it is something I'd rather take the chance that I could invest the cash over time and outstrip the mortgage. But I digress.
Given I am self-employed (director of limited company), my income is low. And I'm potentially going to move away from my current job, so it may be close to zero.
I take it, I'm unlikely to get a reasonable mortgage? Is there any other options for me? Would buying the property and then trying to refinance help my situation?
Thanks for any thoughts.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards