New EICR to cover any changes made by outgoing tenant?10:00 AM, 4th May 2021
About A week ago 76
My wife recently lost her job with the NHS, but we have some cash saved to invest in property. We have one single let already that’s registered in her name. It was first let out early this year.
We want to buy some more, but understand it will be difficult to get a mortgage if she has no income. I don’t want to buy in my name because the rental income will take me into the higher rate tax bracket.
Our mortgage broker has suggested we buy the next property as tenants in common with 99% of ownership with my wife and 1% with myself. This would allow us to you my income in the affordability calculations when applying for a mortgage.
Does this sound like a sensible option? What does everybody else do who’s in this situation?
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