We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Mortgage for HM Forces, will be let - Please Help

wills72
wills72 Posts: 79 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Mortgages & endowments
Hi

My husband is in the forces, and we want to buy a house. I have called a few lenders but they can only offer buy to let. This is going to be a higher rate of interest, but we don't need to count the rent as income as our salaries will cover the mortgage.

Anyone got any ideas?

Thanks

Comments

  • Andy_L
    Andy_L Posts: 13,154 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you are going to buy & immediatly rent the house then you need a buy to let mortgage, the interest rates are higher as its a bigger risk for the lender, eg its harder for them to reposesses if there are tennants.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Which lenders have you approached?

    There are some lenders that are more sympathetic towards HM Forces than others.

    You need to discuss your scenario with a good whole of market adviser to work out the best route for you.
    I am a Mortgage Adviser
    You 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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture