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I doubt the lender would take income from a lodger into account. It's an arrangement that doesn't exist yet, and if you were to tell them that it's your ex partner but don't worry we're still mates... I suspect they wouldn't put much stock in that.
If you're borrowing more than 5x earnings then you might have some problems. Disregard the history, disregard the fact you're already living there (because the lender will). As far as the lender cares, you're just buying a house with some equity and borrowing the rest.
You should be able to figure out fairly quickly what the house is worth (ballpark, using Zoopla and nearby sales). So you'll be able to get an idea what % deposit you have and what the multiples are. Then just look around for some mortgage deals to see what's available.
duncs-
As far as the lender cares, you're just buying a house with some equity and borrowing the rest.
Yeah I guess I wondered whether this is it - my assuming that the only way to take a name off the mortgage is to sell it to the person who wants to stay on. At least we don't pay stamp duty, right?
Just did some quick calcs, and the gap between likely new borrowing, and amount someone will lend me based on income is in the region of £140k :/
hoefla
Thanks. I want 3...
In the example you made, the difference is that I don't need to borrow the full amount of 50% equity, so possibly the increase in deposit relative to house value will be more. Although I doubt the house will have gone up 30%, this is London so who knows. Still, regardless of how good the deposit is, if the amount I want to borrow is more than, what 5x income - it isn't possible? Do lenders take likely income from lodgers into account (in a way that makes any difference)?