Converting BTL into Residential

Keiii

So I'm finding my current home a bit small and the idea of moving into the larger BTL seems like something I may want to do in the future.

Of course, I can't live in the BTL house on its current mortgage. I would have to sell the current residential home, repay the mortgage and change the BTL to a residential mortgage. In which case, it would be based on income multiples as opposed to rental income, which is fine by me.

Is this something that is easy to do? I haven't been able to find much information online about doing this

Thanks,
Kei

kingstreet

Phone your BTL lender and ask them if they would have an issue if you did what you've set out.

Some may have no problem as they would view the risk of default being reduced by an owner occupier. As long as you didn't use the BTL mortgage intending to live in the property, they shouldn't think you're up to no good.