Getting a second mortgage

gemsyuk03

So we recently bought our first starter home back in November, for £237k in Oxford, and house prices have shot up and houses in are street are now going for between £265 and £270k.

A relative was telling us about getting another mortgage ( a buy to let one)on perhaps a flat or something with the equity we will have in our current property, would this be something that might be possible or not?

Thanks in advance, :-)

kingstreet

Where's the deposit going to come from?

You need 25% for a buy to let.