Buy to let house mortgage and new purchase house

Savel_2

Hi everybody! Will somebody give me advice we are gonna remortgage our house to buy to let and buy a new house. Is it possible to get some of the equity of the house that we are planning to change the mortgage to buy to let and will purchase another house means we will have 2 mortgage. Is anybody knows the company Lodhi finance is this genuine company? How will I know? Thank you for help

CLAPTON

If you have sufficient equity in your current property then you could remortgage for a higher LTV and hence take some cash
usually BTL will give up to 75% LTV

never heard of Lodhi : why do you want to use them rather than a high street name?

_Andy_

It's just some random local broker. They don't even have a website.

Nice shopfront!

https://www.google.co.uk/maps/preview/uv?hl=en&pb=!1s0x47d8cd9e1c8e229b:0xe94c89eaf0a215c!2m5!2m2!1i80!2i80!3m1!2i100!3m1!7e1!4shttps://plus.google.com/110590378251363360276/photos?hl%3Den%26socfid%3Dweb:lu:kp:placepageimage%26socpid%3D1!5sLodhi+finance+-+Google+Search&sa=X&ei=KzcaUvL7MYXg7QakpIGYAQ&ved=0CO4GEKIqMGU

Savel_2

CLAPTON wrote: »

If you have sufficient equity in your current property then you could remortgage for a higher LTV and hence take some cash
usually BTL will give up to 75% LTV

never heard of Lodhi : why do you want to use them rather than a high street name?

My husband is talking to those people and I'm afraid that there are not genuine I check their address and they are base on Kent, my husbands seems to believe this company but I told my husband to try broker who we could talk in person which is like on a high street and lodhi is charging £ 500 per product. How can we save for the broker to find us good deal on mortgage. Thank you for the reply

Savel_2

So this lodhi finance could be dangerous? Is it better that deal with the broker near our place

jonesMUFCforever

Savel wrote: »

So this lodhi finance could be dangerous? Is it better that deal with the broker near our place

Go to Barclays Halifax C&G Nationwide Lloyds tsb HSBC or anybody else on your high street. Only if they turn you down would I go to to those brokers.

Savel_2

jonesMUFCforever wrote: »

Go to Barclays Halifax C&G Nationwide Lloyds tsb HSBC or anybody else on your high street. Only if they turn you down would I go to to those brokers.

The HSBC turn us down already but haven't try other ones though

CLAPTON

why not post up some details and maybe people will be able to help

Fruit_and_Nut_Case

CLAPTON wrote: »

why not post up some details and maybe people will be able to help

...but, please, not on the Credit Cards Board.

Savel_2

Fruit_and_Nut_Case wrote: »

...but, please, not on the Credit Cards Board.

I know I just made a mistake on posting just a rookie in this forum

CLAPTON

Fruit_and_Nut_Case wrote: »

...but, please, not on the Credit Cards Board.

..post number 9?