Let to buy mortgage

SuperSaver123

Thrugelmir wrote: »

Some lenders won't be happy with the source of the deposit. They'll expect you to inject some of your own capital.

Some may not be happy but some still are. We are doing the same thing and had options of at least 4 different lenders.

Let to Buy to me seems like a Buy to Let to first time (or not) landlords on their previous resi property to raise cash for a new property purchase. Just a terminology but nothing too new or much different to BTL.

If you already had rented it out before then you know advantages and disadvantages of being a landlord. Just as long as your figures add up as per others' posts re tax and voids, then you should be ok. And another point: make sure the valuation for LTB is realistic (if it hasn't sold for that price, the surveyor for the bank might adjust the figure as well).

Hope it all goes well and that you get the house you want xxx

Boogiecat

After much discussion with mortgage advisor and lettings manager am going for it! BTL mortgage agreed on flat, repayment mortgage agreed on house. Flat's been valued less than we wanted but can still do it, altho will end up moving in and have to save up to carry out redecorating etc.) But I don't care, we've found our forever house. Once we're in, we can take forever to do it up ( probably have to now!!)