Thanks for the reply Scott. Yes, I think you are right, I am going to find it very difficult convincing anyone to lend me anything.

In terms of feasibility; The property I have been looking at is rented until December and the rent covers the mortgage and maintainance costs plus a little bit more (ie is positively geared with my substantial deposit). I was planning on getting full time work at the end of this year when I finish my uni degree and was also planning to get part time work in the mean time. My parents are happy to go guarantor and also to help me pay the mortgage if I somehow get into a situation where I can't pay it.

But I think you are right, noone is going to lend to me if I don't currently have an income.