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House buying, house letting - steps
ianw101
Posts: 1 Newbie
Hi,
I am currently buying a house, but rather than selling my current house, I am keeping a foot in my home town by letting it out.
I am a bit confused with the process since my purchase and letting seem to be running in completely isolated streams.
Someone has mentioned that I have to complete on the "re-mortgage" of my existing property with my buy-to-let mortgage first and then up to a week later on my purchase.
What I would not like to happen is that my purchase falls through (this has happened to me in the past) and my buy-to-let proceeds.
What are the steps that need to be followed and the timescales?
Regards,
Ian.
I am currently buying a house, but rather than selling my current house, I am keeping a foot in my home town by letting it out.
I am a bit confused with the process since my purchase and letting seem to be running in completely isolated streams.
Someone has mentioned that I have to complete on the "re-mortgage" of my existing property with my buy-to-let mortgage first and then up to a week later on my purchase.
What I would not like to happen is that my purchase falls through (this has happened to me in the past) and my buy-to-let proceeds.
What are the steps that need to be followed and the timescales?
Regards,
Ian.
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