Hi, we're looking to remortgage to move house. Right now we only have £3k left on our current mortgage.
As my partner stays at home with our newborn, I'm the sole earner. Although we do have two buy to let properties, which bring in £20k before and £10k after expenses (including mortgage payments).
Is it likely a mortgage provider would consider my income outside my main salary (£40k). If so, would they look at the income of the profit from the rental properties?
Having access to finance for 4x salary and 4x the rental income would mean we can get a property we want. I'm happy with the increased risk looking at my salary projection.
Thanks!
As my partner stays at home with our newborn, I'm the sole earner. Although we do have two buy to let properties, which bring in £20k before and £10k after expenses (including mortgage payments).
Is it likely a mortgage provider would consider my income outside my main salary (£40k). If so, would they look at the income of the profit from the rental properties?
Having access to finance for 4x salary and 4x the rental income would mean we can get a property we want. I'm happy with the increased risk looking at my salary projection.
Thanks!