Hi,
I'm new to the forum, though am an avid user of the website.
I am a financial dunce (though don't fare too badly to be fair!), but particularly where mortgages are concerned as we are fortunate enough to live in tied accommodation (well, fortunate providing you aren't made redundant, twice...) and it is a contractual obligation to do so.
Partly due to the previous redundancies, we have been looking into the possibility of maybe, potentially, perhaps buying a house to let out now, but as a back up for the future, and would definitely be needed by retirement age regardless.
A scout around of potential mortgages highlighted we'll need a bigger deposit for the type of property we would be looking at than we have just now due to the % involved, but we were willing to commit to the saving of the rest. However a quick read around the forum this evening suggests we would be very lucky to even find a lender willing to take a risk on us as FTBs/with no residential mortgage, but that isn't ever going to happen while we have the funds to do it, ie while my husband is in gainful employment.
There must be a way of doing this, we certainly can't be the only profession stuck in this scenario?
Anyway, enough rambling, I would be very appreciative of any advice the moneysaving experts could offer.
TIA
I'm new to the forum, though am an avid user of the website.
I am a financial dunce (though don't fare too badly to be fair!), but particularly where mortgages are concerned as we are fortunate enough to live in tied accommodation (well, fortunate providing you aren't made redundant, twice...) and it is a contractual obligation to do so.
Partly due to the previous redundancies, we have been looking into the possibility of maybe, potentially, perhaps buying a house to let out now, but as a back up for the future, and would definitely be needed by retirement age regardless.
A scout around of potential mortgages highlighted we'll need a bigger deposit for the type of property we would be looking at than we have just now due to the % involved, but we were willing to commit to the saving of the rest. However a quick read around the forum this evening suggests we would be very lucky to even find a lender willing to take a risk on us as FTBs/with no residential mortgage, but that isn't ever going to happen while we have the funds to do it, ie while my husband is in gainful employment.
There must be a way of doing this, we certainly can't be the only profession stuck in this scenario?
Anyway, enough rambling, I would be very appreciative of any advice the moneysaving experts could offer.
TIA