Mortgage help wanted please

Question

If i put £50K as a deposit on a house worth £90k could i get a mortgage if i only work part time

Answer 1

It all depends on how much you earn.  Normally they will lend you 2.5 times your verifiable annual income and these days they are very rigid about checking what you say on the form.  To get 40K mortgage, you need an income of £16,000.  Now to earn this amount, you need to work about 28 to 30 hours a week paying a decent wage.  

If you are working 232 days a year then you need about £70 per day and this is difficult unless you are a professional or semi professional.

Answer 2

Depends on how long you have worked there, and your salary.

Answer 3

Lenders use your yearly (pre tax) income to see if you can afford the monthly payments. It does not matter if you are working full or part time, what they will look at is how much you earn.

Answer 4

Check this site http://www.ukremortgagerate.co.uk

Answer 5

The answer depends on 3 things:

1) The amount of your income

2) The stability of your job (how long you have been there)

3) The extent of your other debts

So without additional information, I can't answer with certainty.

Answer 6

The mortgage will be based on a multiple of your income so you would need a mortgage of £40k therefore you would need to be earning £13000-14000.

The hours you work would not be relevant as long as the lender was satisfied you had a secure job.

If you get any answers from people asking you to go to their web pages for "special" deals I hope you have the common sense to ignore them