Any hope of me getting a mortgage as self employed?

mynewusername25

Hi,

       is there any point in me trying to get a mortgage as a self employed person earning not very much? Average about 13K a year and have about 10k saved. Accounts back to 2012. (Good credit score and no debt anywhere ).. I only want about 60K mortgage so not a huge amount. But I don't think they'd lend to such a low income.

se2020

That should be fine.
If you can save another 2k you will have a 20% deposit and would be able to borrow the remaining 58k with income of 13k a year providing all your other details/paperwork are in order.

se2020

Ps, that's providing you can find a house/flat for 60k though?
It will be a lot harder to borrow for a plot of land or a burnt out flat that needs re building etc.

MovingForwards

se2020 said:

Ps, that's providing you can find a house/flat for 60k though?
It will be a lot harder to borrow for a plot of land or a burnt out flat that needs re building etc.

Think you mean nearly £80k property.

It's possible, I did. Look outside the south of England, the major UK cities and there are some gems hidden away.

mynewusername25

Yes you can buy somewhere niceish in liverpool for 70k ish. Regularly see 2 bed houses in reasonable condition going for 60 to 80k. Thanks