Can I get a mortgage if my only income is from lodgers?

Q Can I still get a mortgage if my only income is from my lodgers? It is about £1,600 a month. I may have to give up my job to look after a relative.

A The short answer is no. There are very few mortgage lenders who are prepared to take income from lodgers into account when working out how much they are prepared to lend. And, according to Pete Mugleston of, “even lenders who do accept lodger income are unlikely to offer you a mortgage if you are unemployed and have no other sources of income”. Mugleston adds: “In fact, most lenders who accept lodger income stipulate that your total employed earnings must be at least £20,000 to £25,000 a year.”

And there is no point heading to the high street to find a lender that offers what are referred to as lodger mortgages because they are typically available only through mortgage brokers. Another reason for avoiding mainstream lenders is that some of their mortgage deals specifically prohibit you from taking in lodgers.

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