Applying to rent/obtaining a mortgage, with LARGE CAPITAL, 'low' income/'no'' income, as a Pro Trader
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It will be around 60k plus whatever I save so not that large but easily enough to pay rent up front for a year on a 3 bed while I keep saving.
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I seem to remember Martin either had a podcast or there's something on YouTube about this. From memory I think you have to declare your earnings as income similar to being self-employed. However, you will then need to pay tax on that. I'm sure Martin will correct me.
I used to work with banks and property developers (some of the worst people!) and you're right that banks aren't interested because they can't make money off you. If you have a really large capital you could possible look to go to auctions? Just be aware there's a lot of fees associated with auctions and it's not all "bargain hunt"
Good luck!
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Also, the one thing that's triggering this question right now is my accountant friend is basically telling me that regardless of capital I'm going to have to do buy to rent on a 2 bed. Not ideal with 50/50 custody of 2 kids. Also, why bother earning £1,000's a month if I can't live well and get a decent place??!
Surely somewhere along the line money talks...
