Obtaining a mortgage with no regular income

[TheHappyOne]

Good Morning

Recently I have managed to obtain (through inheritance) 3 buy to let properties with mortgages all paid off and have regular tenants living there for a few years. Therefore, I receive the monthly rent from these properties. However, I do not have a permanent job - I have always done office based work and manage to get temporary contracts to work a few weeks/months here and there. My other half has a part time job (about 25 hours a week), and we have 2 children both in full time education.

We are now thinking of buying a bigger property. Given the above circumstances, do you think it is possible to obtain a mortgage, since I do not have a permanent job? We could state that we receive regular income from the BTL properties, and if we fall into difficulty with the mortgage payments, then we could always sell one of the properties.

Please advice.

Thanks

 

[noseall]

100% collateral on three properties is a handsome asset. Means to pay said mortgage though I'd imagine requires a different security?

 

[StephenStephen]

It seems like the obvious solution is to get BTL mortgages on one or more of the BTL properties, and use that capital for your larger home?

 

[HawkEye244]

A BTL mortgage may, depending on the lender, not require minimum income and some lenders won't even require proof of income so I'd go with Stephen's suggestion

 

[rules&rulers]

Best use a mortgage broker as the so called and ever decreasing high st banks will only offer you their products.

Maybe sell 1 of the properties to free up some cash,improve the others,extend the others a few landlords local to me are selling properties that need work https://www.rla.org.uk/landlord/guides/minimum-energy-efficiency-standards.shtml

Dont think you will have a mortgage problem,