Advice on new mortgage

emran2486

I am looking to purchase another property but with my sister, and I need some advise on how to go about it.

I have currently got a repayment mortgage for a 3 bedroom house which was 11 months and 1 weeks ago. This property is residential.

My sister has bought a house right opposite my house which is again a 3 bedroom property which was bought May 2013. This property is also a residential.

So we wanted to buy a 4-5 Bedroom house so that the whole family can live under one roof instead of moving around. We wanted to rent both the properties out so that we get extra money that will help us with the monthly mortgage. But we do earn enough to pay for mortgage.

After calculating and using a garanteed rent scheme we will be making an extra 400-600 after paying for both the mortgage.

Both the mortgage is with Halifax.

Please advice me on what I will need to do.
Also my credit scoring isnt too good, but my sisters one is good.

Thanks for reading.

Foxy-Stoat_3

How much do you and your sister have as a deposit for the third house?