Can rental income (from XH) count towards income for getting a mortgage?

[ChiefFairyCakeMaker]

I've recently separated and moved out but XH is on a very low income and can't afford to buy me out. It's an amicable split and we don't want to sell the house as the kids stay there some nights and it's handy for school, etc but I want to buy another house. My income is not enough to buy a house big enough for me and the kids so XH has offered to rent my half of the house off me. Can he legally do that and would the rental income I got count towards income for me getting a mortgage?

Hope that makes sense!

He can pay rent and you could become his landlord. However, you'd then probably have to register as 'self-employed' with HMRC, declare any income for tax purposes and do it for a significant period of time before a lender would take it into account as 'regular income'

problem is that your liabiliy for this mortgage remains so means you may be limited as to how much you can borrow.

Cogito - oh dear I hadn't thought of that.

cestlavielife - I forgot to say that there is no mortgage on the family home, we've paid it off.

Yes, a lender will acept rental income as part of your income. You will need to provide lots of evidence of the rent such as money into the bank, lease etc.

You will need to register and complete a self assessment tax return each year - not self employed but rental income. Depending on how much money exhanges hands it may be under the rent a room scheme.

As a separate dwelling it will not come under the rent a room scheme.

Same house dies

Does even

But the OP will be living in a different house, gregs. He will stay in the family home while she moves and just pay her rent for the half she owns, And your name is making me hungry!

Ah right. Mis read.

Tis ok, gregs but have had wine now and feel even more like a sausage roll! Stop with your cruel taunting!