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Equity release current residential for BTL?
wmat983
Posts: 135
Forumite
Hi guys, I currently have 1 residential and 1 BTL property, I have a decent amount of equity in my residential to buy another small BTL.
The problem is I have income that won't be accepted as income, trading is a form of gambling so is a no go even if I can prove I do it.
Anyway would there be any ways around this, what about private bank mortgages, would I be able to release equity with one of these to increase my BTL portfolio?
Or would it be best to pay the bulk of BTL mortgage off and remortgage that one?
The problem is I have income that won't be accepted as income, trading is a form of gambling so is a no go even if I can prove I do it.
Anyway would there be any ways around this, what about private bank mortgages, would I be able to release equity with one of these to increase my BTL portfolio?
Or would it be best to pay the bulk of BTL mortgage off and remortgage that one?
0
Comments
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All mortgage lenders are regulated. There's no alternatives. Your application has to stand up on merit and the lenders own criteria.
Gambling isn't a secure source of income. Whatever happened yesterday. The future holds no certainty.0
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