[willowshouse]

Will a NZ bank take into account a rental income in the UK when calculating how much money they will lend you on a mortgage?

I understand that the normal calculation is 4 times salary? I will have a NZ salary as well but instead of selling up and using the equity to buy I would like to keep property in the UK and have a larger mortgage in NZ .. any experiences or bank people want to comment?

Thanks,
Dawn

[Smiler]

I asked this question recently at the bank. We don't have a house but they were willing to take evidence of our savings in the UK, statements and share certs etc and offered us a large mortgage.

The only proviso is that they may offer the biggest chunk of your mortgage on a fixed rate of say 7% and the rest (the value of the UK house say) on a variable rate of 9%. Don't quote me on the rate as OH works for a bank and gets a staff discount. ;)

I also checked with wizard and mortgage warehouse and they indicated they would offer the same deal.

HTH