hi some advice please..here is our situation.
parents own (mortgage free) an apartment valued at €310k
myself & partner are mortgage approved for €297,500k
house we want to buy is €440k
idea was for parents to sell and contibute €220k towards price and move in with us. We dont have problem living together as house is huge etc plus my parents are aging and the top floor apt is not going to be suitable very soon.
BUT>>>
i am wondering is there a way for us to work this out without having to dispose of the apartment? ie: would banks take rental income that would be gained from the apartment into consideration? or anything like that?
I was originally approved as self-employed (3 months ago) but am now about to start full time job with salary 31k.partner earns 30k.
what would the financial whizzes out there do?
parents own (mortgage free) an apartment valued at €310k
myself & partner are mortgage approved for €297,500k
house we want to buy is €440k
idea was for parents to sell and contibute €220k towards price and move in with us. We dont have problem living together as house is huge etc plus my parents are aging and the top floor apt is not going to be suitable very soon.
BUT>>>
i am wondering is there a way for us to work this out without having to dispose of the apartment? ie: would banks take rental income that would be gained from the apartment into consideration? or anything like that?
I was originally approved as self-employed (3 months ago) but am now about to start full time job with salary 31k.partner earns 30k.
what would the financial whizzes out there do?