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Letting out current house, can I buy another?
toriat22
Posts: 1 Newbie
Hi, I am currently letting out my house as my husband and i have temporarily relocated. Next year we intend to move back to our old area but would like to buy a new house. As selling houses seems to be hard at the moment I wondered if I could buy a house to live in whilst keeping my current property as a buy-to-let. I have tenants in there now who want to stay long term. The rent did cover the mortgage when we had an interest only but we recently changed it to repayment to there is now a deficit. We have about £80k equity in it and would be looking at buying another property for £300k. Am I being completely unrealistic or is there potential??
Thank you
Toria
Thank you
Toria
0
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