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Getting a mortgage on second property with consent to let on first

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CharlyD
CharlyD Posts: 5 Forumite
in Mortgages & endowments
Hi

We are buying a new home but keeping our existing flat as unable to sell. We have obtained consent to let on the flat with Santander.

We need a 90% LTV mortgage on the new property but having trouble finding a lender who will agree to this as they are all looking for minimum 15/20% deposits.

Anyone else been having similar problems?

Comments

  • kingstreet
    kingstreet Posts: 39,254 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Speak to a broker to get a few options.

    Otherwise, you'll probably find one on your own and assume that's it.

    Lenders take different views on what is self-financing and what isn't.
    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.
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