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Income for mortgage
greensmoker
Posts: 67 Forumite
Hi everyone,
We are hoping to do some home improvements in the near future and will be remortgaging our house.
We receive monthly income from renting out a portion of our home under Rent a Room Relief. Would the banks use this as income in additional to our salaries?
The reason I'm asking in because when we file Self Assessments, we do record that we receive Rent a Room Relief, but since it's under the £7500 tax free cap, the figure is not included in our tax return.
I also receive Personal Independance Payment as I'm disabled. Would this be regarded as income for the banks?
I appreciate your advice
Many thanks
We are hoping to do some home improvements in the near future and will be remortgaging our house.
We receive monthly income from renting out a portion of our home under Rent a Room Relief. Would the banks use this as income in additional to our salaries?
The reason I'm asking in because when we file Self Assessments, we do record that we receive Rent a Room Relief, but since it's under the £7500 tax free cap, the figure is not included in our tax return.
I also receive Personal Independance Payment as I'm disabled. Would this be regarded as income for the banks?
I appreciate your advice
Many thanks
0
Comments
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Sorry I doubt any lender would take into account the income you might receive from Renting out a room
https://www.finder.com/uk/mortgage-on-benefits
0
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