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Rent towards income for mortgage application
russ1980
Posts: 2 Newbie
Hello all, new to this so bear with me.
Trying to get a mortgage for a new property, currently have £75000 deposit and want to borrow £100000. Problem is earnings are only £21000 so might not get the loan amount i need.
I do however have a rental income of £6000 per year from my wife who cannot go on the mortgage.
Can this be classed as income to increase the amount i can borrow, if so which lenders would accept this?
Hakifax state they used too but changed recently (end of last year??), i assume others would have and may still do this?
Any help would be much appreciated.
Cheers
Trying to get a mortgage for a new property, currently have £75000 deposit and want to borrow £100000. Problem is earnings are only £21000 so might not get the loan amount i need.
I do however have a rental income of £6000 per year from my wife who cannot go on the mortgage.
Can this be classed as income to increase the amount i can borrow, if so which lenders would accept this?
Hakifax state they used too but changed recently (end of last year??), i assume others would have and may still do this?
Any help would be much appreciated.
Cheers
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