Can I get a third mortgage?

cwarring

Hi,

I currently have one flat that I let under a residential mortgage with consent to let.

I have a second flat that I currently live in that I would potentially like to let out (hopefully through another consent to let) when I upsize.

Is it likely that I will be able to get a third mortgage?

With regards the second flat I won't be able to prove rental income when I apply for the third mortgage as I won't be letting it until I move into the third property, is this likely to be a problem?

I understand that only a mortgage lender will be able to give me a definitive answer but it would be good to know if this is generally acceptable before I approach lenders.

Thanks,
Caroline

opinions4u

Get yourself a decent mortgage broker - most high street lenders won't be geared up to help.

It may be that you could switch the other two mortgages over to buy-to-let.

There is, of course, the concept of selling property rather than retaining it.

Dan_1976

AS long as the figures stack up and you can prove the income you will get you should be ok. Get a broker though as you will need more help and more attention will need to be paid.

Good luck

getmore4less

Concent to let on the current house is the key.

Without that you need to get new lending which is unlikely to be a cheap and may not be at such a high LTV level.

Deposit reqirements on the new place do you have the cash?

Depends a lot on your current numbers how easy it will be.