DH and I have just realised that we could rent out our London flat if we can increase our mortgage on it (currently 70k) and use the money to buy a small house in the country to live in instead which the rental income should mostly cover?
We'll ask our bank tomorrow whether this is possible but it would seem that potential rental income from our flat (should be over 2k/month in our area) could help pay the bigger mortgage. Our income is erratic at the moment so I hadn't dreamt of being able to move until this brainwave and hope our dream won't be shattered or does this sound do-able?
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Has anyone 'let to buy'?
6 replies
looseleaf · 10/11/2013 21:41
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