Hi,
I have got a job lined up coming August and I'll be making a reasonable amount of cash. I have seen a house selling using a 50/50 scheme and it turns out that buying a two bed would be around £200 cheaper than renting.
I have enough money to pay for the deposit and the legal fees etc. I am just wondering how likely I am on obtaining a mortgage before I actually start working.
I will not be obtaining my contract (waiting on grade) until July however, I have previous experience with the company (worked last summer).
Using the simple online tools I am eligible for over £100k yet I only need around £70k for the house (based on deposit and salary).
Any advice?
Luke
EDIT: Although I would not rely on this method, would I also be able to have a lodger? In the area this seems like a simple £300 a month which will pay for all the bills.
I have got a job lined up coming August and I'll be making a reasonable amount of cash. I have seen a house selling using a 50/50 scheme and it turns out that buying a two bed would be around £200 cheaper than renting.
I have enough money to pay for the deposit and the legal fees etc. I am just wondering how likely I am on obtaining a mortgage before I actually start working.
I will not be obtaining my contract (waiting on grade) until July however, I have previous experience with the company (worked last summer).
Using the simple online tools I am eligible for over £100k yet I only need around £70k for the house (based on deposit and salary).
Any advice?
Luke
EDIT: Although I would not rely on this method, would I also be able to have a lodger? In the area this seems like a simple £300 a month which will pay for all the bills.