Mortgage whilst unemployed (UK)?
I lost my job a few months back and want to buy an apartment for £120k.
I have £100k in cash and looking for a loan to finance the remaining £20k.
Can you please advise if anyone knows how to manage this. i considered looking for a £40k mortgage and putting £80k towards the house (saving £20k to pay morgage until i find a suitable job).
Surely a company would look at a one sixth (20/120) investment into property as a low risk?