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What kind of mortgage?
Satsuma99
Posts: 4 Newbie
Hi all,
I was just wondering if anyone could help me.
We live and own an apartment in the city. We are now thinking of buying a house in a new development outside the city and renting our apartment out.
What happens with our mortgages? Would we need to take out a buy to let mortgage for the new house even though we are living in it?
Many thanks for your input!
I was just wondering if anyone could help me.
We live and own an apartment in the city. We are now thinking of buying a house in a new development outside the city and renting our apartment out.
What happens with our mortgages? Would we need to take out a buy to let mortgage for the new house even though we are living in it?
Many thanks for your input!
0
Comments
-
you would need to speak to current lenders about letting the properties, they may or may not agree and rates could change - and the new one would be a normal residential mortgage, and subject to normal lending criteria, including max LTV and affordability etc0
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