Can you receive home financing all on your own?

Can you receive home financing all on your own?

Yes, but you’ll want to make money that is enough cover the expense of your monthly mortgage repayments.

It would likely be harder to save up for the deposit, and you will never be in a position to borrow the maximum amount of if you applied for a joint mortgage with a partner, friend or family member as you would.

Why would it be tough to ensure you get your first home loan?

Lenders start thinking about it riskier to offer a home loan as a time that is first as you could have:

No experience holding a home loan, this means the lending company will likely not understand how you will maintain with repayments.

Less credit history if you should be more youthful or haven’t held a mortgage before. Read More