Wednesday April 1, 2020

Renting a room may not solve mortgage dilemmas

As house prices soar to dizzying heights, an increasing number of buyers are renting out rooms to make their mortgages more affordable.

3rd June, 2006

As house prices soar to dizzying heights, an increasing number of buyers are renting out rooms to make their mortgages more affordable.

But buyers who think that planning to rent out a room will secure them a higher mortgage could be in for a shock as many lenders say they don’t take room-rentals into account when assessing mortgage applications.

And those who plan to rent out rooms need to beware of the potential...

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