Mortgage whilst unemployed (UK)?

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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?

Any ideas?

Thank you

1 Comment
  1. Reply
    January 28, 2011 at 12:18 am

    It is FAR less likely a bank will lend an unemployed person £20K than it is the seller may accept £100K cash…try that!

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