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Re-mortgaging to buy another property

c.h.
c.h. Posts: 1 Newbie
in House buying, renting & selling
I have a property worth £300k mortgage free. I want to borrow £100k against this to put as deposit on another property which i can rent out. Basically this is for a short term investment.. Is this an option that is workable?

Comments

  • benood
    benood Posts: 1,398 Forumite
    Yes, it would work in principle -but I have two further questions for you:

    how are you going to fund the balance of the purchase price?
    is it appropriate to view property as a short term investment?
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    benood wrote:
    is it appropriate to view property as a short term investment?

    Especially given the high buying and selling costs...
This discussion has been closed.
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