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renting out property affect mortage????

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ebuyeruk Posts: 2 Newbie

27 October 2004 at 8:31PM in Mortgages & endowments

My current salary is 18k combined with my wifes 9k wages makes 27k a year.

We are thinking of letting (renting) out our property and using the proceeds to pay of the mortage of a new house we are planning to buy.

Will the mortage lenders take the projected income generated from our house when applying for our mortage on the new property. The new house is about 200k and we need the mortage to be as large as possible

Can anyone help?

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renting out property affect mortage????

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