Can you buy a house with £70,000?
I live in London with my family and pay a small rent but also help out with housework and shopping.
I have £30,000 saved up and my parents will give me another £40,000
Can I buy a house outside of London somewhere cheap, fix it up and rent the rooms out which should cover the mortgage and have a little over for me? I was thinking of buying a 3 bedroom house and renting out all the rooms including the living room. I won’t be buying a house in London because it’s expensive I’m thinking outside of London but I don’t know where. I’ll have to do some research.
What do you think? If I go to get an mortgage and explain that to the banks will they lend me the money?