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Mortgage and Rent
quackers82
Posts: 70 Forumite
Currently there are 4 of us in an apartment paying per month
£900 - Rent
£257 - Electric
£50 - Sky
£142 - Council Tax
£12.50 - BT Line
£11.50 - TV Licence
£25 - Internet
Which is almost £1400 per month in outgoings
Now early next year i would like to get a mortgage. But i'm only on £25,000 a year, and even at best 5x multiplyer i could only get £125,000 mortgage.
Now the 3 people i currently live with have said they would rent of me no problem if i got my house.
My question is will them renting of me be taken into account when i go for a mortgage. They have said they are happy to pay around £350 a month each, which is a lot of income.
If it will be taken into account will it boost my amount i can borrow by much? Also NON of them want to be tied into a mortgage so going for a joint one between us is not an option.
£900 - Rent
£257 - Electric
£50 - Sky
£142 - Council Tax
£12.50 - BT Line
£11.50 - TV Licence
£25 - Internet
Which is almost £1400 per month in outgoings
Now early next year i would like to get a mortgage. But i'm only on £25,000 a year, and even at best 5x multiplyer i could only get £125,000 mortgage.
Now the 3 people i currently live with have said they would rent of me no problem if i got my house.
My question is will them renting of me be taken into account when i go for a mortgage. They have said they are happy to pay around £350 a month each, which is a lot of income.
If it will be taken into account will it boost my amount i can borrow by much? Also NON of them want to be tied into a mortgage so going for a joint one between us is not an option.
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