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.


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.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

You are currently offline. Some pages or content may fail to load.