Can you buy a “buy to let” property to live in yourself?

leemarch33

I know it sounds a weird question. I love the apartment block and a property has come up that is a perfect price for me as a first time buyer. 

The only problem I can see is that the property currently has a renting tenant and is being sold by what I can see by a “by to let” specialist estate agent. 

I don’t know a great deal about buying properties. I know it sounds horrible to evict people but it surely happens often. What are the laws and rules etc? Thanks in advance 👍🏼

davidmcn

If the tenant leaves before you buy (and you would be well advised not to progress a purchase much until the tenant does leave) then the fact it used to have a tenant is irrelevant. If it's being sold with a tenant in situ then you'd need a BTL mortgage (assuming you're not a cash buyer) and (at least initially) you'd be running a lettings business. And a BTL mortgage generally prohibits you from living in the property yourself anyway.

MWT

Go find a different property, this is not a path you want to head down...

Evictions are not as frequent as you seem to believe and especially during Covid they have been close to impossible to obtain.

The EA is going to know you are not the right purchaser the moment you talk to them and you are just going to waste your time and theirs if you try to pretend otherwise.

If you want to give it a go just be honest, tell them you are interested in it as a residential property and see what they say.

leemarch33

Thanks. I’ve been honest with them and I’ll see what they say. 

Thanks for your advice, I wasn’t sure at all about BTL mortgages etc. Call me ignorant haha but I’m trying to learn now haha! I think I understand now so I’ll keep a wide birth. I was just confused why the owner would prefer to sell it as a BTL rather than just let anyone that is interested purchase it, but I see it’s to do with not being able to evict.