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Shored ownership buying Another

edited 30 November -1 at 12:00AM in House Buying, Renting & Selling
6 replies 381 views
williomwilliom Forumite
10 posts
edited 30 November -1 at 12:00AM in House Buying, Renting & Selling
Hi
I am currently own a shared ownership house in London for nearly 4 years , can I buy any other property as buy to let in England ?

Replies

  • chanz4chanz4 Forumite
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    why would you want to?
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • AdrianCAdrianC Forumite
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    You can see the paperwork with whoever owns the rest of your current SO property. What does it say?
  • dimbo61dimbo61 Forumite
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    Why not !
    if you have the deposit and Income to get a BTL mortgage with a BTL lender.
    Where you live is not that important anymore.
    Getting through all the other hoops with becoming a Landlord maybe more fun
  • chanz4 wrote: »
    why would you want to?

    I was thinking about buying more share in current property but it costing too much and going through all expenses again ie solicitor fee , new mortgage fee and hassle etc , so I thought to buy another buy to let instead,
  • dimbo61 wrote: »
    Why not !
    if you have the deposit and Income to get a BTL mortgage with a BTL lender.
    Where you live is not that important anymore.
    Getting through all the other hoops with becoming a Landlord maybe more fun

    Thanks for your help , 2 years ago I spoke to my mortgage broker on that time she advised while you having shared ownership house you can not buy any other since then I never thought abt it but now I thought to find some useful information here.
  • 00ec2500ec25
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    williom wrote: »
    Thanks for your help , 2 years ago I spoke to my mortgage broker on that time she advised while you having shared ownership house you can not buy any other since then I never thought abt it but now I thought to find some useful information here.
    more likely your wires are crossed

    most (but not all obviously) shared ownerships will require you to use the property as your main home.
    Your plan implies you intended carry on doing so, therefore I can't see a reason why they can stop you from spending your own money on a property you will not be residing in because it will be a BTL whilst you own it
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