Should I get a corona-mortgage?

tonyenkiducx

Hi!

I've been quite lucky through lockdown with my work being much busier than normal, and I've managed to increase my savings quite a lot to cover a good deposit.  We're currently happily living in a rented property, and we would like to stay here because it's incredibly cheap for what it is.  I am 100% only interested in a mortgage as an investment, but if need be I could move into the place I buy.  So here's my questions...

1) Can I get a buy-to-let property when I don't currently have a mortgage myself? I'd read this was not allowed

2) If I don't get a buy-to-let, can I buy a property and just not live in it?  I'm more interested in the investment than the property

3) If I was just going for a traditional mortgage, assuming I have good credit history, is this a good time to get a mortgage, or should I wait?

If someone has a pile of further reading for me to dig through, that would be awesome as well   It's hard to decide which advice is good at the moment.

Thrugelmir

No idea what a corona mortgage is. Treat a BTL as a business rather than than an investment. You'll receive a raft of advice on BTL's on the House Buying, Renting and Selling board. 

davidmcn

tonyenkiducx said:

If I don't get a buy-to-let, can I buy a property and just not live in it?  I'm more interested in the investment than the property

No, unless you go for some more specialist sort of financing. The lender will be interested in the property being occupied by somebody. Empty properties have a habit of deteriorating, or mysteriously combusting. Standard residential mortgages require you to move in and actually use it as your main residence.