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What is the best way to buy another property to let out?
Pipjo
Posts: 49 Forumite
I paid my mortgage off 2 days ago. 9 years early and it feels great! But now that goal is over. I feel ready to start again to prepare for the future. I was thinking of buying a property small flat to rent out.
Is BTL let mortgage my only option? I don't have the 25-40% deposit required possibly 5% so far for the cheapest on the market.
Could I get a normal interest only mortgage again as I am now without mortgage? Or even a repayment mortgage?
Is BTL let mortgage my only option? I don't have the 25-40% deposit required possibly 5% so far for the cheapest on the market.
Could I get a normal interest only mortgage again as I am now without mortgage? Or even a repayment mortgage?
0
Comments
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You could re-mortgage your current property and use that to buy your buy to let. Either enough for the deposit or potentially for the whole amount. You can still get tax relief if you declare that you are doing the equity release for btl purchase.0
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