Borrow against BTL to refurbish main residence

sarahb100

Yes I run then like a buisness, completely seperate accounts etc, Only take money out of the BTL account to overpay residential morgage. Shifting the mortgage debt I suppose!!

It does freak me out a little having about 600K of mortgages if I think about it for long enough but I always figured worse case I sell the BTLs and with these I don't risk losing my home.

BTW tropically nice to hear from someone else who has a London / South East size mortgage. I wish I had one less zero on my borrowing!!

Tropically

I'm actually buying a second property which I have under contract so my total mortgage will be £578,000!! I imagine myself wanting another rental property after that as well.

My personal perspective (and there may be lots of others who disagree!!) is that I don't mind using borrowing when it's not the house I live in, but I would love to have a paid off house and mortgages on the BTLs. It seems to me to be the best of both worlds - no one can kick you out of your house but you could still use leverage to achieve what you can't achieve in cash.