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

Can I rent my current house out and buy another with the equity

zjayz
zjayz Posts: 1 Newbie
in Mortgages & endowments
Hi just wondering if this is possible
My house is worth about 110k with 60k left to pay
current mortgage provider said I can rent it out on current mortgage

Now can I rent this house out but buy another one with the equity from my current house which I currently live in

I'm looking to move to a house worth about 160k due to a growing family

any advice welcome.

thanks

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    what do you mean the 'equity' in your current house... do you mean you are going to remortgage the current house to raise some cash for the dposit for the second house... will your mortgage provider agree?
    EU tariff on agricultual product 12.2%
    some dairy products 42.1% cloths 11.4%
    EU Clinical Trials Directive stops medical advances
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
  • 354.6K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.5K Spending & Discounts
  • 247.5K Work, Benefits & Business
  • 604.4K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 261.9K 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