Let to Buy Mortgage - Advice Please

franyjayne

He is a higher tax payer. I am not quite there yet!

He rents seven properties already so used to the stresses that go with it. Confident we'd have renters in both pretty much constantly. Dependant on how much we need to release from each property to fund the new one we should make quite good returns - plenty to build up a good amount if it was ever empty.

So much to consider and I don't know much about the income tax implications. Will need to speak to an adviser.

MoneyGeoff

In that case your original plan is probably fine. Your equity is £160,000 or 64% of the £250,000 value, so if you can release £100K you'd still have 24% equity. See what a mortgage adviser says.