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Joint mortgage or Buy to Let
Ritzy_2
Posts: 1 Newbie
Hi i am a new member.
I am currently in a position where I have additional money to spare and am looking at a 2nd property to let out.
I currently have a mortgage for my first property with my partner who has been relocated to a different area of the country temporarily. The property i am looking to buy would be local to his job and as such he would be using the property initially with 1 additional lodger.
Does this count as a main residence as he is registered as living with me initially?
I am not in the so very fortunate position that i will not need a mortgage for the 2nd property.
Will Buy to let be the better option in the long run?
Do i have to arrange a tenancy agreement by law under this option?
I am currently in a position where I have additional money to spare and am looking at a 2nd property to let out.
I currently have a mortgage for my first property with my partner who has been relocated to a different area of the country temporarily. The property i am looking to buy would be local to his job and as such he would be using the property initially with 1 additional lodger.
Does this count as a main residence as he is registered as living with me initially?
I am not in the so very fortunate position that i will not need a mortgage for the 2nd property.
Will Buy to let be the better option in the long run?
Do i have to arrange a tenancy agreement by law under this option?
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