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another mortgage question?
Doglover88
Posts: 431 Forumite
will i still be able to get a personal mortgage to buy myself a place if ive recently taken out a buy to let mortgage? reason thinking was get a place and start letting it, then it'l lbe easier to find a 10% deposit for my own place as opposed to doing it the other way. buying a place to live then needing to find 20% deposit for buy to let as well as the cost of running my own house
Any comments?
glen
Any comments?
glen
0
Comments
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You can get a BTL with a 15% deposit and some lenders are looking at less than this now. However, the rental income achieved would have to be enough to support the loan amount requested.
If you have bought a BTL, there are plenty lenders that will disregard this in the background when looking at ledning you money for your own main residence.I 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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