Rental Income for PPR Mortgage

W

wearylandlord

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Is there any Bank/Mortgage provider that will give PPR mortgage based on rental income only? My only income is from rental properties and I was planning to purchase a new PPR with a small mortgage (<30% of purchase price) but I'm finding that no one wants to lend based on rental income only.
 
So have no income from employment at all. Is that right?

Are some or all of the rental properties mortgaged?
 
wearylandlord said:
no one wants to lend based on rental income only.
Click to expand...
I suspect thats because (in spite of the current market, or maybe because of RTB!) rental income is not seen as secure.

Given that any person in employment can be made redundant / fired / get sick at any time, I'm not sure how paid employment is more secure, but there you are!
 
No mortgages on the rental properties. All generating income and a mix of residential and commercial properties. Didn't try any Credit Unions.
 
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