Advice needed - 2nd home (regulated buy to let?)

thrustmaster

Hi all,

looking for some advice, hopefully not attracting too many trolls in the meantime

I'm currently in the process of buying a second property with what I was under the impression would have to be a buy to let mortgage. The flat would initially be rented by my disabled brother and my mother (I am aware of landlord requirements - tenancy agreement, gas and electric safety checks, registration etc..)

I've spoken with a broker with regards to the type of mortgage required and have been advised that I would be looking for a second residential mortgage (regulated). My concern here is the lack of "buy to let" which is the sole purpose of the property, I have queried the availability of regulated buy to let mortgages and have been advised that there are effectively none available, previously I had been lead to believe that Virgin Money provide this product however upon reading the terms it simply states a residential mortgage product will be required/provided if renting to family.

My questions here

- Would it be possible to let to family under a second residential mortgage?

- If a regulated BTL would be a requirement in this circumstance, which companies still provide such a product?

Thanks in advance

marksoton

Very few. If any.