Consent to Let & getting 2nd Mortgage

[Deleted User]

Hi,


I'm looking for some advice on my current situation.

I have a residential mortgage with Nationwide. I have had a change in circumstances which means I need to move out of my current house. Nationwide are willing to agree to consent to let. My mortgage is £240 p/m & rental income is £700 - £800 p/m.

I currently also have a buy to let property which is rented out making a decent return approx £200 profit p/m.

Is it possible to get my original mortgage disregarded for affordability and get a second residential mortgage so I can buy another property to move into?

If so which lenders are most likely to accept this?


Any advice would be appreciated.

Thanks.

kingstreet

Yes. You should speak to an independent broker about your options. They will depend on loan to value, affordability etc.

ACG

As Kingstreet says, it will be possible but not all lenders will do it, so it probably is one for a broker.