Hello,
We're thinking of buying a house and the property that we're looking at includes a main residence and a couple of self-contained residential flats. One of which is currently let.
I had a question about how the banks are going to assess the amount of funding they will give us. We have a deposit of significantly >20%. However, our "calculable income" (e.g. My partner is a temporary contract) may not be counted). The purchase price of the property will likely be high relative to my income - but our plan is to continue to rent out the self-contained apartments.
Would the banks likely include this rental income as part of our income to determine how much to lend us?
We're thinking of buying a house and the property that we're looking at includes a main residence and a couple of self-contained residential flats. One of which is currently let.
I had a question about how the banks are going to assess the amount of funding they will give us. We have a deposit of significantly >20%. However, our "calculable income" (e.g. My partner is a temporary contract) may not be counted). The purchase price of the property will likely be high relative to my income - but our plan is to continue to rent out the self-contained apartments.
Would the banks likely include this rental income as part of our income to determine how much to lend us?