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Living in BTL Property
hotyogabunny
Posts: 30 Forumite
After scrutinising the boards and the internet in general for the answer in vain, I have to ask this!
I plan to purchase a property on a BTL mortgage.
How long must I let it out before moving back in and what is the process for so doing?
If I can't get a tenant when can I move in?
Many thanks in advance :beer:
I plan to purchase a property on a BTL mortgage.
How long must I let it out before moving back in and what is the process for so doing?
If I can't get a tenant when can I move in?
Many thanks in advance :beer:
0
Comments
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You cant live in a property that is on a BTL mortgage.
A BTL mortgage isnt a way to get round normal lending criteria and lenders are clamping down on this. Also most BTL mortgages insist on you being a homeowner in your own right and a minimum income usually in the region of £25k.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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 -
Thanks for the swift, succinct reply.0
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No worries, typical bloke probably? Why use 100 words when 1 will do :-P
Anything else feel free to ask.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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
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