Living together conundrum... mortgages, figures ETC ETC

Dunroamin

19lottie82 wrote: »

Bearing in mind that this was in Scotland, and 10 years ago, but when I went to uni, your loan and grant amounts, were only based on your parents income (and only your resident parents income, if your parents were seperated), not the household income. Step Parents income did not count, unless they had adopted you......

Nowadays it's based on household income, including that of a step parent or live in partner.

Savemesomemoneyplease

But not of another parent if the parents don't live together, which makes soooo much sense :mad:

Kynthia

You should read the Buying, Renting & Selling part of the forum for experiences in becoming a landlord. Things to consider are whether your lease allows the flat yo be let, deposit protection law, gas safety certificates, inventories, letting agent tenant find or management fees, declaring income to the HMRC, landlord insurance, eviction processes, etc. Then you have to see how you'd cope with a non-paying tenant for the possible 6 months it takes to evict them. Also what if you split up in a year, would you be able to give back the equity invested in your flat? And would there be penalties on the new BTL mortgage you got?