Possible to get a BTL with no job?

**Smiler** · 03-12-2012 13:13 PM

Any pointers on getting a BTL mortgage with no job? Would be putting down 30% deposit

**theartfullodger** · 03-12-2012 13:55 PM

As long as you have (usually..) £25k pa income apart from property.. I've done it..

'phone a mortgage broker specializing in B2L & ask...

Cheers!!

**Berlingogirl** · 03-12-2012 14:07 PM

Yes, I don't earn 25K. As long as your rental will cover 125% of the mtg (I think) you stand a chance.

But yes, see a broker.

**Claymore** · 03-12-2012 15:27 PM

There are some products and a mortgage broker will advise you - get him to check as many deals as possible because the fees are generally a bit higher if you don't have a regular income.

**mk_man** · 05-12-2012 10:34 AM

Yes you should be able to

**mk_man** · 05-12-2012 10:36 AM

Try a mortgage broker

**hech123** · 05-12-2012 18:52 PM

you would need a very large deposit in todays market!

**JRG** · 06-12-2012 09:10 AM

Yes it is possible providing that you have other income.

**Gordon999** · 06-12-2012 09:23 AM

Most lenders's criteria for offer of Mortgage is that the loan will not exceed 3.5 times the borrower's annual earnings. So if you have no job, you don't qualify.

So use you 30% deposit and buy a small house in Chicago USA. Houses are so cheap there and you can get 10% yield as advertised on the web . So investigate .

**theartfullodger** · 06-12-2012 09:27 AM

Originally Posted by Gordon999

Most lenders's criteria for offer of Mortgage is that the loan will not exceed 3.5 times the borrower's annual earnings. So if you have no job, you don't qualify.
.....

Gordon - surely "income" not "earnings". & "So if you have no income...."???

Many people have income but no job ....