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Is it possible to get a mortgage without work-related income?

Manesova83
Posts: 44 Forumite
Hypothetically speaking, say someone is wealthy enough to not have work in the traditional sense. This person could afford to buy a new home outright but would rather get a mortgage and invest the funds freed up by doing so. Without a work-related income, is it possible to get a mortgage or other loan based solely on savings and investments?
Thanks in advance for your help!
Thanks in advance for your help!
0
Comments
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Not a residential mortgage.
You may be able to get a buy to let, but options will be limited and you will not be able to live in the property.
It is a regulatory requirement to assess income. Your investments could be worthless tomorrow, admittedly you could be out of a job tomorrow but you can always get a new job, your investments may never recover.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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