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Buying second property - help.
LavenderLamb101
Posts: 85 Forumite
Hello,
I live at home with my parents, and own a property which I have a consent to let on (currently has sitting tenants)
I am currently trying to save for a new deposit to get back on my feet, but am tempted with pulling equity from my property.
My questions are:
Thanks in advance
I live at home with my parents, and own a property which I have a consent to let on (currently has sitting tenants)
I am currently trying to save for a new deposit to get back on my feet, but am tempted with pulling equity from my property.
My questions are:
- Can I get a second residential mortgage?
- Should I transfer the current mortgage to a BTL?
- How much deposit am I likely to require for a purchase price of 250k?
Thanks in advance
0
Comments
-
- Can I get a second residential mortgage? - YES
- Should I transfer the current mortgage to a BTL? - PROBABLY
- How much deposit am I likely to require for a purchase price of 250k? - PERHAPS 10%
I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1
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