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No Mortgage and Buyng a second property
crabbycrabcrab
Posts: 126 Forumite
Hi, my step Dad has his home that is fully paid offer with no mortgage for the last 4 years. He is thinking about buying a new home and living there, then renting out his old property.
How would this work? Would he still have to get a buy to let mortgage on his new house even thought it will just be him living there?
How would this work? Would he still have to get a buy to let mortgage on his new house even thought it will just be him living there?
0
Comments
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No. He will just get an ordinary residential mortgage on it.
He will have to pay an extra 3% SDLT on the new house.0
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