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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.
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