Posted on 22 November 2011 by volkan
I want to buy a house in the UK. I have been in london for 1 year and I am self employed. We have a house in Turkey in my mothers name. I want to know can I show that house as security and get a mortgage in London, my mother is happy to help? I earn about £1200 a month and have about £10,000 deposit for a small flat? Thank you.
I am not aware of any UK banks or building societies who would be willing to take a house in Turkey as additional security for a mortgage in the UK. Your Mother may be able to raise some capital on it to provide you with a larger deposit, but this would have to be arranged through her local bank.
I regret that I do not think you will be able to obtain a mortgage large enough, based on your sole income and deposit, to be able to buy a small flat in London. You will also find that UK lenders nearly always want you to have at least 2 years self employed accounts to back up your declared income figures.
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