Hi Guys,
My PPOR is in my name and currently my brother and sister are living me and paying rent. I'm refinancing my loan with another lender and I was wondering as another income besides my job income, should I put down the rentals that i get from my siblings? This will improve my capacity to pay as my job income has reduced. If I do, would they treat it as an investment property instead of PPOR?
Thanks in advance
Your brother and sister would be treated as bording with you and unlikely their border income would be considered in assisting your serviceability. If they formally rented say the low half of the house under a Tenancy Agreement then possibly.
In saying this if the funds are being draw down to purchase an new IP then the anticpated rental could be considered.
Further details would be required to provide a concise answer.
Richard Taylor | Australia's leading private lender
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