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Mortgage options if not working
whatstheplan
Posts: 158 Forumite
How many lenders are open to considering mortgages for applicants that don't work? What criteria do they base suitability on if there's no regular income?
In this scenario, the applicant would be in a position to put down a sizeable deposit i.e. in excess of 50%. They have no bad credit history, never declared bankrupt etc. Has previously worked and intending to return to work after further education.
In this scenario, the applicant would be in a position to put down a sizeable deposit i.e. in excess of 50%. They have no bad credit history, never declared bankrupt etc. Has previously worked and intending to return to work after further education.
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Comments
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@whatstheplan The deposit doesn't matter without some form of adequate provable income (employments, pension, stipend, maintenance, dividends, benefits, etc etc) to meet lender affordability requirements for the loan size that you are looking to borrow.
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