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Buying a house with spare rooms to rent
HousingA
Posts: 38 Forumite
Hello
I am buying a 5 bedroom house.
The house has 2 bedrooms on the bottom room and the buyer has rented 2 bedrooms out
I want to buy the house and keep 2 rooms on rent
Will the banks take into account the 2 rooms I can rent towards my mortgage affordability or Maximum mortgage I can get ?
I am buying a 5 bedroom house.
The house has 2 bedrooms on the bottom room and the buyer has rented 2 bedrooms out
I want to buy the house and keep 2 rooms on rent
Will the banks take into account the 2 rooms I can rent towards my mortgage affordability or Maximum mortgage I can get ?
0
Comments
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@housinga Generally speaking, only a few lenders will consider lodger income for affordablity. Most of them will only do so at remortgage (where there is a track record) not at purchase.
Not saying that it isn't possible, just that the number of lenders who may consider is very low.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Does the property have more than one kitchen?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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