2 bed apartment - Rent a room? - quick question

B

Bruze

Guest

• 24 Jan 2006

• #1

buying a two bed apartment with my girlfriend. considering renting the other room to my brother. will banks take this additional income into consideration?

 

C

CathyK

Registered User

Messages

119

• 24 Jan 2006

• #2

Hello,

Sorry most of them wont, they normally only give rent a room allowence to single people

 

S

student

Guest

• 24 Jan 2006

• #3

Bruze,

I believe the banks will take this extra tax free income into account. As far as i'm aware the 'Rent a room relief' allows you to rent out a room in your home, and this rental income is tax free if it is less than 7620p.a..

Why would a bank discount any additional income you could generate???

 

S

Sarah W

Registered User

Messages

1,169

• 25 Jan 2006

• #4

You can rent the room out but lenders won't take rom rental into account on a joint (couple) application.

Sarah

www.rea.ie

 

B

Bruze

Guest

• 25 Jan 2006

• #5

Thanks guys, just trying to squeeze as much for mortgage as possible.