Soldato
was hoping you helpful lot can give me some advice with this and what my options may be.
I've saved up £15k from last year, and this year hope to be able to get another £15k or so by Christmas giving me £30k. I can borrow from family, though only small, they could increase my deposit to around £38k to £42k.
my partner doesn't have so much, but by christmas we'd hope she can input just under £10k herself.
we currently rent a 3 bed house but were allowed to have other friends live with us, so although the rent is £1.5k per month, we actually pay almost nothing for rent, then just pay the bills between us.
This got us thinking that if we were to be able to buy a house similar to what we rent, we'd actually be making a profit as say it was the exact house we are in now, we'd have a reception room that's unused and another persons input, plus we'd not have agency fees, landlords profit etc that we're paying now by renting.
so we thought to see what our options are with regards to buying a mortgage. i've spoke to 2 big banks over the phone now, and neither offer a mortgage where you are allowed to rent bedrooms out so we'd have to do it unofficially, and unfortunately it wouldn't be taken into account with the options as to how large of a house we can buy.
at the moment, i've gone through the online calculators, and between us, we're only being offered a mortgage of £290k, which is enough for a flat/tiny house. no good for us as ideally we're hoping for a 3 bed place, or at least a 2 bed with a reception room maybe that could be rented out for a year or so.
anyone know what our options are? are we likely to ever find an option that would suit us like this?
I've saved up £15k from last year, and this year hope to be able to get another £15k or so by Christmas giving me £30k. I can borrow from family, though only small, they could increase my deposit to around £38k to £42k.
my partner doesn't have so much, but by christmas we'd hope she can input just under £10k herself.
we currently rent a 3 bed house but were allowed to have other friends live with us, so although the rent is £1.5k per month, we actually pay almost nothing for rent, then just pay the bills between us.
This got us thinking that if we were to be able to buy a house similar to what we rent, we'd actually be making a profit as say it was the exact house we are in now, we'd have a reception room that's unused and another persons input, plus we'd not have agency fees, landlords profit etc that we're paying now by renting.
so we thought to see what our options are with regards to buying a mortgage. i've spoke to 2 big banks over the phone now, and neither offer a mortgage where you are allowed to rent bedrooms out so we'd have to do it unofficially, and unfortunately it wouldn't be taken into account with the options as to how large of a house we can buy.
at the moment, i've gone through the online calculators, and between us, we're only being offered a mortgage of £290k, which is enough for a flat/tiny house. no good for us as ideally we're hoping for a 3 bed place, or at least a 2 bed with a reception room maybe that could be rented out for a year or so.
anyone know what our options are? are we likely to ever find an option that would suit us like this?
