How much can we borrow we a rental income from annexe?

Cici_K

Hi

We are first time buyers, I'm originally from Australia and unaware of lending here in the UK. We have just fallen in love with a house advertised for £475k, it comes with an annexe which was previously rented for £550pm. This all done properly and legit.

My question is will the mortgage lender consider this rental income and allow us to borrow more money? And does anyone know how much that would be?

I've read many months back about brokers on here, hope someone can help us. We won't be able to get the mortgage without rental income. I'm praying it will be a big fat yes for us to be able to put in an offer.

Thanks

holly_hobby

No, under a residential application the rental income from an annex won't be accepted, nor will a sitting tenant !

Even if vacant, and you have the affordability to pch without supplementary income, and you don't intend to let, you will still have issues regarding this and placement in general under a residential application.

Of course you'll want to bottom this out with your own broker.

Hope this helps

Holly