How can I get a second mortgage ?

I don’t have a job but about 50,000 in equity and only owe 12,000 but I’m behind and about to be forclosed on.

Answer #1

Matt, $22000 pounds is equivalent to our AUS$36,483. I understand we are both from different continents so your interpretation of a mortgage is different to an Aussie.

The amount quoted above is not a mortgage to us; this amount is more of car loan to an average Aussie.

I’m not sure what you define as a house, but for me a house is a free standing home with your own backyard, your own driveway, your own carport. A home consists of 3 bedrooms and 1 bathroom or four bedrooms and 2 bathrooms. The average mortgage I am talking about is AUS$300,000 onwards not the amount you quoted. The amount I quoted is equivalent to UK$180 052.

The loan your mate has sounds to be more of a bedsit (a small living quarter, similar to a flat, or unit). Even in Australia one would be hard pressed to get a loan if they are unemployed unless they decide to live in the country and I mean country, country, more outback Australia, where there are hardly any population.

Also, I have work colleagues who are from UK and they have told me, an unemployed person receives approximate: (UK)$60.00 per week if they are single and age over 25 and (UK)$100 if they are a couple and if single and under 25, only (UK)$50. Mind you, this is only the job seeking allowance not the disability allowance you mentioned.

I might be clueless on many things on this site, but when it comes to financial matters, I’m not your average 20 years old who has her head under the bonnet when it comes to money matters.

BTW, if you are curious, have a look at

Have enjoyed the mini debate between us, let’s makes this a win-win argument between us. :) Hope there are many more to come…heheheheee.

Answer #2

with proof of being able to pay the loan back, yes…

im unemployed on DLA (only till the summer) and I’ve got no trouble getting loans..

infact my bank offered me a £14,000 overdraft instead of a credit card because of me turning it down…

my mates mortgage is less than £50 (just texted him and he pays £41.28) a week which is less than my £67.90 a week rent for the exact same property and hes unemployed too.. the reason I havent taken 1 out is because im not staying here. he was loaned £22,000 on a income of unemployments benefits of £122 a week

I can get this vouched :p

Answer #3

Hello Clawjaw, anyone home?? The poster clearly states she does not have a job!!

How the hell, can she use the mortgage calculator to calculate what she can borrow if she doesn’t even have an income amount to enter into the box.

You will be pretty pressed to get another mortgage. Your equity alone isn’t much. Do you still have your house or a business? If so, maybe speak to a financial consultant and use the house as a collateral to offset what you want to borrow, there are risks involved though with this method.

Remember, if any financial institutes are willing to lend you a loan based on the amount of assets etc you have on hand, just be very weary as you will end up paying more on the interest of the loan then what you borrowed. Most banks will not lend you money if you are a high risk client to them.

Answer #4

Seriously mate, do you really think for a moment, a bank will be willing to loan a mortgage to a client who is unemployed and on unemployment benefits?

Are you aware how much one has to pay every week, or fortnight or monthly on their mortgage repayments? Come on, be reasonable, she isn’t asking about a little personal loan (car or a shopping loan to buy things) which her unemployment benefits may be able to cover but she is asking money for a mortgage dude.

Do your maths and continue resting your ‘face’ on your palm, as much as you hate being wrong, you aren’t always spot on with your advice.

Answer #5

you need to get it valued first then I think you go to a bank with the valuation and ask for the money..

a morgage in the UK is based on your wage.. so if your earn £100,000 a year you can get a morgage of around £250,000

there are morgage calculators online but if I post the link my answer will be deleted so best you just search for 1 ;)

Answer #6

unemployed, benefits are still classed as an income… bloody hell!


More Like This
Ask an advisor one-on-one!

Get Me Mortgage Broker Stamford

Mortgage Broker, Refinancing, Home Loans


Reliable Mortgage Professionals

Mortgage Lenders, Real Estate, Financial Services


Clover Mortgage

Mortgage Services, Finance, Real Estate


Mortgage Broker Home Loans

Finance, Real Estate, Mortgage Services


Shine Mortgages

Mortgage Services, Financial Services, Real Estate