Rental Income considered in mortgage application

bramptonnozzers

Be gentle!
I have an annual salary £34000, wife has £4800 plus £2200 Child Benefit,
we also have £26000 annual rental income after mortgage payment. Total annual income of £67000. We are looking to purchase our first house for us to live in but cannot fnd anyone who will consider the rental income which is more than my salary after deductions. Very frustrated as our portfolio is worth over £1,000,000 and we cannot buy a house for ourselves for more than £185,000 with a 10-15%. Anyone with a result from a similar prediciment let me know. We have just sold 1 property for the deposit and for tax reasons cannot sell another (also tied in with mortgage). In any case our average buytolet mortgage rate is 3.2% so we would be foolish to raise more money from them.
Any advice welcome.

Dan_1976

You will struggle in 2010 to get lenders to mess about with rental income. So many property investors have gone pop, big portfolio or not.

This could be a reason to self cert but the ltv may be to high. You probably need to go off the high street. I am sure one of the brokers will be along soon.