Can I get a mortgage?

Posted on 7 July 2012 by elizabeth


Can I get a mortgage for £50,000 if I do not work yet have £50,000 in savings? I am looking for a new job in the future.

Elizabeth

I regret that until you have an earned income that will support the amount you want to borrow you will not be able to get a mortgage.  You may be able to get a loan secured against your savings, but I think this is very unlikely in the current economic climate and would certainly not be for £50,000.

I recommend that you speak to your bank to see how far they would be able to assist you.

Peter

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