FTB and buy to let help please

bigboeing

Really need some advice please.
We are currently renting but fortunately able to save a large amount every month £1000+.
We've found our ideal house in a different town (where we want to live) and been offered a cracking deal, mortgage payments would only be ~£650.
However we don't want to leave our current area due to work commitments for 1-2 years.

We are first time buyers.
So are buy to let mortgages available for us?
Even if we don't rent it out is paying towards a mortgage every month a better investment than saving our £1000?
Or keep saving and buy in 1-2 years?

Basically we could afford a mortgage on a house now without affecting our current living standards, but this would be instead of saving lots every month. (Still obviously have emergency fund and save a smaller amount)

All advice welcome, thanks.

beecher2

I'd think it would be far wiser to keep saving £1000/month - I can't see any reason why it would make sense to take on debt when you don't have to, and the 'cracking deal' is very unlikely to be available to you if you're renting the place out

Mrs_Z

Also usually BTL lenders require you to be a home owner if it is your first BTL property.

DannyboyMidlands

I don't see the big deal in waiting until you move there. Why buy so far in advance? How could it be a good investment to pay the mortgage (plus maintenance, insurance, council tax etc.) for a place that you don't live in as well as your rent?

Just chill out and keep saving.