Resolved Question

Can I get a morgage for £40,000?

I'd like to buy a houseboat, I've seen a few in this price range.

Also, I earn 21,000 a year here in the UK. Would I also be able to get a morgage for £150,000? Without a deposit?

Best Answer - Chosen by Asker

No.

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Other Answers (3)

• For a mortgage of £150,000 you will currently need a deposit of approx £15,000 to £30,000 meaning you would then be borrowing £120,000 to £135,000. As your income is £21,000 you have no hope of borrowing that amount on your own.
  
  In addition, those figures are based on mortgaging a house rather than a houseboat. You will find far fewer lenders willing to lend for the purchase of a house boat and their rates and criteria will probably be even stricter.
  
  Sorry, but I think that this is a non starter unless you have a sizeable chunk to put down now.
• You will get the mortgage easily, but you will need atleast a 10% deposit.
• deposit required