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french house
boscamnant17
Posts: 1 Newbie
We have a home in France which we have no mortgage on. does anyone know if we can use this as collateral against a buy to let in England ?
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Comments
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Yes, but don't expect a high LTV ratio nor a cheap interest rate.0
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There are a couple of lenders that will allow you to re-mortgage a foreign property to raise funds.
Those funds can then allow you to put as a deposit/buy the BTL in the UK.
However, the lender for the BTL would have to be happy with your residency status which you have not put down.
This is quite involved and I would suggest going via a whole of market broker to make sure you do not trip up along the way, with the various lending criteria hoops that you will need to jump throughI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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