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Mortgage help

Hi everyone,

Just wanted some advice. Here's my situation;
I'm currently working full-time earning 25k a year with around 6k in overtime

My mum who is 60 year old owns a property which is mortgage free, the mortgage was paid years ago so she owns the property 100%.
She is currently working Part-Time earning 11k a year

Here's what I thought we could do:
Put my name on the house deeds (might not even need to do this if the mortgage is just being calculated by mine and my mums income) and apply for a residential mortgage which would be
25k x 4 = 100,000k
11k x 4 = 44,000k
Total we'd get would be around 145,000k

Then use 100,000k of that money as a deposit to purchase a new house which were planning to live at.
The house we have seen is 380,000k
so we would require another 280,000k

what’s the best way to get this? As I was thinking I could place the property my mum owns on rent which would get a rental income of around £1700 per month, Use this rental income to pay off both mortgages and if there’s any shortage then I chip in with few hundred pounds every month.

So essentially we'll have two mortgages one residential and one buy to let.
Am I on the correct line please I'm so confused which way to go.

Thanks in advance.


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