Consent to let and additional borrowing?

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I'm wondering whether it's likely that my lender (Halifax) will be open to allowing "additional borrowing" of £10k once the property is being let out and it's no longer my main residence (it'll have proper consent to let in place). Property value c. £170k, current mortgage about £115k. The additional £10k does not change the LTV ratio much so wouldn't expect the rate to change.

Reason being that partner and I are looking to purchase a place together. I can get consent to let for my place (which is in my sole name). And we've got enough to get somewhere together (just) but places we've seen all need a bit of refurb. Everywhere we've seen and liked so far is live-able in but would be nice to do up kitchen etc pretty quick.

Effectively I'm wondering whether I can take out the additional borrowing from my own place for improvements on the second place a few months after getting consent to let.

I'm guessing that it would not be a good idea to take out the additional borrowing on my existing mortgage before getting the second mortgage.

Any thoughts?
Thanks!

Thrugelmir

And we've got enough to get somewhere together (just)

Why not sell your existing property?

The additional £10k does not change the LTV ratio much so wouldn't expect the rate to change.

That's not the issue. As you've already asked for temporary consent to let the property. A lender can impose whatever terms it wishes on the whole of the debt in terms of additional interest charges.

kingstreet

If you plan to keep this arrangement longer than a year, you might as well remortgage onto an LTB product now.

Halifax won't give you additional borrowing on CTL and will be reluctant to provide CTL for anything other than the short term.

Phone and ask.