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Buy To Let With No deposit
p4rcj
Posts: 1 Newbie
I have 3 properties but no deposit to buy any more. Only 1 of the propeties has a mortgage, can I borrow to buy more houses?
0
Comments
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You can certainly (subject to circumstances) raise funds on one of current propeties to use as a deposit/s on new one/s
All the bestI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yep you can release equity from 1 or more of your current portfolio via a remortgage - subject to rental income v mge commitment & any salary/status requirements.
Point to note is that offsetting of mge interest against rental income in each case of equity release, will be capped to the value of the property/pch price, when it entered commerical let. (your accountant/tax adviser/HMRC will provide more details if reqd).
Hope this helps
Holly0
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