We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Moving, thinking of getting a buy to let on current home - advice needed

Options
ZILLION
ZILLION Posts: 5 Forumite
in Mortgages & endowments
I'm moving home and thinking of getting a 75% buy to let mortage on my flat.
Will having a buy to let mortage go against me with lenders when getting a 75%repayment mortage?

Comments

  • Meeper
    Meeper Posts: 1,394 Forumite
    If the rental income covers the new mortgage, it will generally be ignored.
    I am an Independent Financial Adviser
    You should note that this site doesn't check my status as an Independent Financial Adviser, so you need to take my word for it. This signature is here as I follow MSE's Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Beware though that rents have fallen two (2) months in a row (LSL), void periods are increasing and home values are falling.

    You can always get consent to let in the short term to trial it out, but don't expect any huge profits far from it.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • ZILLION
    ZILLION Posts: 5 Forumite
    Thanks for quick replies. I'm not looking to make a big profit as long as the rent covers the mortgage.
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
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K 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