We have a house for sale in the UK and it's going slowly. We have one potential buyer who really wants it, but the buyer for her house still has a small property to sell. We won't accept an offer if there's an uncertain chain.
But, they've offered us theirs as a part ex. Initially we said no, but now the idea may be OK. Ours is £585k and theirs is £375k. It would give is a big dollop of cash and still have a house to rent out.
But we have no real income, so can't transfer the small mortgage on ours. The only way would be a Buy To Let mortgage.
I've seen many adverts on the on the internet offering BTL mortgages with no income, but they seem a bit iffy.
I'm asking on here as the general age group is the retired folk with no earned income.
Any advice ?
Thanks in advance
But, they've offered us theirs as a part ex. Initially we said no, but now the idea may be OK. Ours is £585k and theirs is £375k. It would give is a big dollop of cash and still have a house to rent out.
But we have no real income, so can't transfer the small mortgage on ours. The only way would be a Buy To Let mortgage.
I've seen many adverts on the on the internet offering BTL mortgages with no income, but they seem a bit iffy.
I'm asking on here as the general age group is the retired folk with no earned income.
Any advice ?
Thanks in advance