I moved to England from Nov 1999 from an EU country and held a job from then till March 2001 earning only £25000/year. But since 6 mths ago I started contracting (self-employed) and started earning some good money - equivilent of £65000 gross.

Anyone have any idea who will lend me money to buy a house? Most banks I called require 2/3 years books. I don't know if I can wait that long considering that I am paying £850/mth in rent plus council tax!! Any advice would be appreciated.

-- Mr John Doe (sikesapa@yahoo.com), September 12, 2001

Answers

There are some specialist lenders, you will probably be able to find through mortgage brokers, who may be willing to lend. However, you might find that the interest rate is higher because of the greater risk to the lender, and the broker might make a charge to arrange the mortgage.

As you get approx 5500 a month gross, 850 isn't a huge amount out of your salary for rent. If I were you I'd wait the 3 years and save up a substantial deposit in the meantime!

-- pendle (pendle_666@yahoo.co.uk), September 12, 2001.

go to www.mortgage-refused .co.uk a company specialising only in problem cases.It may not be as bad as you think.

-- roger watts (rwatts.homeloans@virgin.net), September 16, 2001.