buy to let mortgage

blue66_2

hi,,
i have a house with a one account offset mortgage on it, at the moment am in credit by £1000. The house is worth approx £120,000.
I have seen a flat up for sale for £75,000 what would be the best way to raise money to buy this.
I am thinking of buying this to rent out.

thanks in advance for your advice

Mr_helpful

One way to do this is to raise the deposit on your house withe the one account and then do a BTL mortgage on the new flat. Typicaly you need a 15% deposit buy in some cases you can get away with 10% as long as the rental income stacks up. this way it can be done as a No Money Down deal. it is a way they I have used to buy a few of my Buy To Lets. You need to contact an independent broker with BTL experience, preferably one of us that doesnt charge broker fees.