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Buying 2nd property for my brother
disco12_2
Posts: 1 Newbie
Hello all new to this so bare with me.
I want to buy a house for my brother to live in. He has 2 kids and is currently renting a 1 bed place. So needs more room and security.
The mortgage i will need is 80% ltv after the deposit and I want to have capital repayment. The problem is I dont want to have to have a buy to let mortgage too expensive. Most companys have said it has to be B to L as its not my main residant.
Anyone come across this situation? Advice......please
Cheers
D
I want to buy a house for my brother to live in. He has 2 kids and is currently renting a 1 bed place. So needs more room and security.
The mortgage i will need is 80% ltv after the deposit and I want to have capital repayment. The problem is I dont want to have to have a buy to let mortgage too expensive. Most companys have said it has to be B to L as its not my main residant.
Anyone come across this situation? Advice......please
Cheers
D
0
Comments
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It has to be BTL and they may be iffy about the house being let to relatives.If you've have not made a mistake, you've made nothing0
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so bare with me.
You cheeky devil!:rotfl:
But you are buying to let! What kind of mortgage would you expect?I dont want to have to have a buy to let mortgage
Have you explored the possibility of buying a property with your brother and his wife as tenants in common? Would it be possible to get a lower rate on that basis?0
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