Renting a room in new PPOR. Can you use rental income?

Discussion in 'Loans & Mortgage Brokers' started by albanga, 15th Mar, 2017.

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  1. albanga

    albanga Well-Known Member

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    Heya Brokers,
    If you were to purchase a new PPOR and rent a room permanently, would any lenders out there accept the future rental income?

    If so who and what are the requirements? As you have not yet received it you can't prove it via bank statements.
    Could you get a legal one bedroom tenant lease put together though perhaps and have it signed prior to settlement?
     
    albanga, 15th Mar, 2017
    #1
  2. tobe

    tobe Well-Known Member

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    Nope. Can't use it as potential income. Only once it's declared in your tax returns.
     
    tobe, 15th Mar, 2017
    #2
    albanga likes this.
  3. albanga

    albanga Well-Known Member

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    Melbourne
    And there is the record for a reply at 7.20am! Legend Toby, thanks for the speedy reply.
     
    albanga, 15th Mar, 2017
    #3
    Kevvy7, Marg4000 and tobe like this.