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Switching from a buy to let mortgage to residential
Jo*_2
Posts: 116 Forumite
If I were to buy a house with a BTL mortgage, intending to rent it out, but a short while later want to live in it myself - what process would I have to go through?
I believe it would mean remortgaging with a residential mortgage. But would I have to have a deposit? What if I've only recently bought it and I have no equity?
I believe it would mean remortgaging with a residential mortgage. But would I have to have a deposit? What if I've only recently bought it and I have no equity?
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Comments
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Why would you have no equity, given that a BTL mortgage requires a large deposit?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Ah I see! Excellent thank you0
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