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Buying A Second Home

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Ric.ror | 15:20 Mon 10th Jun 2013 | Personal Finance
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I am thinking of buying a second home - I would rent out my current home (3 bedroomed) and buy a smaller one
Would the banks take into account any potential rental income when deciding how much to lend?

TIA
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Oh I should add I have next to nothing mortgage on my current house (well £5k is next to nothing in mortgage terms) - the house is worth approx £200K
As nobody has replied I would say Yes, but this is from what I know in France. And, if you already have somebody interested it would be a bonus.
Personally, I can buy a property here and get a loan just because I'm letting it out; if this was not the case under my circumstances I wouldn't.
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Thank you for your answer
Yes I believe they take a 'conservative' amount, or they used to. Not sure since they tightened up a lot.
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Thank you Ladybirder
You can get what's called a Let to Buy mortgage that takes into account the equity, outstanding loan and rental potential of your existing property as well as your income. Its a specialist mortgage so I would suggest you see a broker.
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Belated thanks to you Bushbaby

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