Remortgage our house to help daughter

barnsleynanna

My husband and I own our property outright, currently valued at around £85,000. My daughter, son in law and 4 children rent privately in Telford (ex army). They have been renting for a while and the property they are in is, shall we say, 'lacking'. We have been looking to supplement a better rental for them, but the one we have our eye on is £750 per month. My daughter works but is waiting for a permanent contract to be offered. Son in law is recently self employed so difficult for them to get a mortgage in their own right at the moment. We wondered if it would be possible for us to purchase a property (one seen at £130,000) and let them live there and pay us rent. I'm aware we'd either have to do a buy to rent, or keep the 'rent' quiet, so to speak. My husband is 63, currently earning £38k per year. I am 53 earning £10k per year. Would we be considered for a mortgage considering my husband's age?