Should I remortgage my home to fund buy to let

KikiK

I have enough equity in my home to re-mortgage and get sufficient funds to pay for a buy to let outright. This would leave a big mortgage on my home and I am not sure if this is the best way to fund my buy to let. I would get a cheaper mortgage deal than getting a buy to let mortgage but I'm not sure if leaving myself with a large mortgage on my home is the best option.. Any ideas anyone?? I would really like to hear Martin's view. Thank you.

Richey_

KikiK wrote: »

I would really like to hear Martin's view

Martin never replies on this forum as a rule.
Far too rich and important now.
It must be a full time job being a celebrity! :money: :money: :money:

As you are this rich, I'd engage either a financial advisor or a knowledgeable broker to discuss your plans further. If I had that much spare money I'd want an expert to advise me, not strangers opinions.....

:j. :j. :j.

amnblog

Speak to an Accountant first to explore the tax implications.

Consider also what your objective is and the easiest and less expensive way to achieve it.

Finally, if a buy to let seems the right idea, engage a good mortgage broker.

Thrugelmir

KikiK wrote: »

I have enough equity in my home to re-mortgage and get sufficient funds to pay for a buy to let outright.

Not a reason to start a letting business. Crunch the numbers, understand the tax implications, the requirements of being a Landlord. Have you maximised your pension provision?

AnotherJoe

KikiK wrote: »

I have enough equity in my home to re-mortgage and get sufficient funds to pay for a buy to let outright. .

So do I, but I'm not foolish enough to imagine that BTL is a road to riches.

Step back, Q: why do you wish to go into business as a landlord?
Can you post here the financial analysis you've done showing the profit you'll make?