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Difficulty finding lender for a property
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We own another property out right. Is it feasible to get a mortgage of 80k against this house and use the money to purchase the complicated house? ( Complicated house would become our family home).
Sounds much more straight forward. What do you intend doing with the other property? If it is being let you will need a BTL mortgage, if it is going to be a second home you could keep a residential mortgage on it.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 -
The intention was to let the owned outright property for some additional income ( that or holiday let which it has done well as in the past) but yes, realise it would need to be non residential mortgage.0
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