Getting a mortgage on reduced wages?

C

celtictech

Guest
Hi,
I am looking at buying my first home, but before I approach my bank I have a query. I have been on half wages for the last 6 months due to things getting quieter at work. Working 2 wks and getting social welfare for the other 2 wks.This shows no signs of changing at the moment. I have savings to cover a deposit. What are my chances of getting a mortgage in this situation?
 
probably nil

Why are you buying a house anyway given that you are not in full time employment and indicate that it may be some time (if ever) before you will be again in your current role?
 
Because I'm getting tired of living at home, and feel the time is right to buy in this area.
But as you say, the finances are not in my favour.
 
Dont think bank will give you mortgage

If tired of being at home, then try renting a house...rent rates good at moment.. you do not want the burden of not being able to pay for the house on top of not knowing where you stand from employment viewpoint... you may need to move elsewhere to get work and house then of no use to you
 
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