01 Feb 2016

A question about : Chance of getting a mortgage?

I will be speaking to a broker/adviser as I think this maybe a complex mortgage application, would like to hear your thoughts on it as well.

My father owns some properties, one of which he'd like to give to me at a reduced price. The property has current tenants which I'd like to keep there. I'd be a first time buyer so was hoping to use the difference between the house value and the amount I need to mortgage as my deposit, should be around 75k. The property takes a rent of Ј550 per month and I would think the mortgage will be around the Ј500 per month mark.

The problem I think maybe with me earning a low wage and being self employed for the last two years. I take home roughly 18k but my house rent is paid by our business which amounts to an additional 8k. It's obviously an opportunity I'd like to take but what are my chances?

Thank you in advance.title=Smile

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    Category: 
    Mortgages & Endowments
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