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Buy To Let Advice Please
Dohjo
Posts: 12 Forumite
I Currently owe £65k on a house worth approx £160K (mortgage in my name only)
Am hoping to rent out my property at the end of next year,(but will be living in it til then) when I hope to buy another property with my OH.
We want to borrow an extra £30 to use a a deposit for the next house and have been offered 6.14% fixed for 5yrs with no fees, but will have to put my hubby on mortgage for affordability. (I have personal debt which will be paid off before we buy again)
Or would I be better to remortgage just for the current amount and borrow for the deposit nearer the time, so I don't have to add OH to mortgage, but would incur fees then???
I'd just like opinions on whether this sounds savvy or a stupid idea! Are there better ways around it?
Thanks in advance
Am hoping to rent out my property at the end of next year,(but will be living in it til then) when I hope to buy another property with my OH.
We want to borrow an extra £30 to use a a deposit for the next house and have been offered 6.14% fixed for 5yrs with no fees, but will have to put my hubby on mortgage for affordability. (I have personal debt which will be paid off before we buy again)
Or would I be better to remortgage just for the current amount and borrow for the deposit nearer the time, so I don't have to add OH to mortgage, but would incur fees then???
I'd just like opinions on whether this sounds savvy or a stupid idea! Are there better ways around it?
Thanks in advance
Charles J
0
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