paying rent help with getting mortgage?

aron80

Hi, I just wanted to ask a quick question; I have been paying my private landlord rent of £400 every month for the last 3 years, and in the long term am hoping to buy my own place.

I was wondering if the fact that I have paid rent without fail will help banks to look favourably on the fact that I can afford a mortgage, and hopefully give me one, or does it make no difference whatsoever?

Thanks in advance.

GMS

Your income will determine what a bank would lend you, not the fact that you have been paying rent.

As it is a private landlord a reference would not be requested anyway as they are worthless.

hcb42

I guess it shows affordability of a £400 debt - but mortgage will be a lot more than this (I am assuming!)