Mortgage Experts::: Is this possible??

prosaver

katrina1979 wrote: »

Looking for a bit of advice. I earn £25k per year, have a current mortgage of £58k house now valued £72k.

I work in the Financial Services therefor can borrow 4x my Salary. I have seen another house for £55k i would like to buy and live in whilst i rent my other house out to cover the mortgage which is £269 per month. I could rent this house out for £380 pcm.

Is this senario possible. Dont want to ask my colleagues as yet as early days and the walls have ears where i live lol:rotfl:

you would make more money putting a extension on the house.

katrina1979

prosaver wrote: »

you would make more money putting a extension on the house.

I certainly have been thinking about this also. I have been thinking all week end, may be biting of more than i can chew. I am always very cautious with money maybe too cautious at times:D