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buying second home count as buy to let?
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Charliemarlie
Posts: 11 Forumite
if I want to buy a 2nd house which I will move into and live is that classed as buy to let if owning home currently?
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Only if you're going rent it out..Slummy mummy!0
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I think it only counts if you buy a toilet.
..... I'll get my coat.
:D 0 -
If you intend to let your current home and it has a mortgage, you require consent to let from the lender.Charliemarlie wrote: »if I want to buy a 2nd house which I will move into and live is that classed as buy to let if owning home currently?
If you intend to remortgage to a new lender and let your current home, that's a let to buy.
You are buying a new main residence, so that is a simple residential mortgage.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
yes intend to let the already owned home0
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Then you are 'letting' the buy property to 'buy' the new one Charlie.
Let to buy.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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