residential and buy to let. is it possible??

ksmith08

good afternoon

i have found a house to buy in cornwall which has superb potential as a family home at a price of £330k. We have or will have a deposit in the region of £100k and having chatted informally to a few brokers we just about have affordability.

My question stems from a seperate one bedroomed building which is included in the purchase. it has rental potential of upto £300 per month with its own car park space etc.
Could i raise some of my mortgage through a buy to let mortgage to pay towards it??
It is not seperate on the deeds but surely if i bought the lot it could be split on completion??
Will a lender stretch to this guarantee? has anyone any experience of this sort of thing? (and if so who with??)

mank thanks

kevin

anselld

Are you saying you want to sell the one bed property after purchase or hang onto it?

Anon

If the separate property is already included in the purchase, would you need a separate BTL mortgage? Sounds like it would complicate it - you would probably want to ensure that you knew how much the separate building was worth so that you would know how much of the mortgage interest could be apportioned (to claim back against taxable income). You may also need permission to let from the mortgage company if this building is specifically identified (or not sure if it would be covered by rent a room scheme if part of the main property?).

Anon