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mortgaging a property - no job mortgaging a property - no job

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Old 01-12-2008, 10:30 PM
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Default mortgaging a property - no job
Is it possible to mortgage a (paid for) property for half its market value and pay for this via the rental from it without having a job?

Cheers
Lee
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Old 09-12-2008, 11:39 AM
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Ok, what do you think a cash-strapped suspicious minded bank that doesn't want to lend will think of this?
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Old 09-12-2008, 01:59 PM
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I think the words 'too high risk' springs to mind.

Maybe a couple of years ago you would have a bank willing to take a chance but in the current climate I would say your chances are slim to none.....sorry.
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Old 19-12-2008, 02:55 PM
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I thinks it a bit premature to say this is too high risk. Just because this gentleman does not have a job does not necessarily mean he does not have an income for eg. could have substantial pensions income or invesment income.

The type of mortgage leeuk is after is a BTL remortgage and many lenders will consider his application.
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