Do I need a BTL mortgage for this?

oceanscape

If I want to purchase a house for my parents to live in (rent free, full time) and for me to live in (on weekends only) would I need a BTL mortgage or would a standard residential mortgage be acceptable? I'd live with my partner in London (rent-free) Monday to Friday.

Thanks for any advice.

dimbo61

Who would pay the mortgage, gas, Electric, council tax, Buildings insurance etc on the property ? If it is you then it is your home.
Now if the lender asks why are you buying in Scotland but working in London that might cause problems

oceanscape

dimbo61 wrote: »

Who would pay the mortgage, gas, Electric, council tax, Buildings insurance etc on the property ? If it is you then it is your home.
Now if the lender asks why are you buying in Scotland but working in London that might cause problems

I would pay the mortgage, they would pay the bills.

Yes, I am working in London and the house is 3 hours from London but - like I said - I will be living in London Monday to Friday and only living at the mortgaged house at the weekends...

Jimbo1976

If you aren't going to let the property out then its not going to be a buy to let mortgage.

Some lenders be able to give you a mortgage for a weekend home. Speak to a broker and make sure you explain that your parents are going to live there as well.