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rosa246are

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K_S

@rosa246are

- You could potentially rent it out without a BTL mortgage, but you will need what is called Consent To Let from your lender. Usually this will only be given if you intend to return to the property at some point.

- There is nothing stopping you from a second mortgage in theory, but your income will need to be sufficient to be able to meet affordability requirements for two residential mortgages and perhaps also be limited by a minimum deposit requirement of 10-15%.

rosa246are

@K_S

thank you for your response 

Consent to let I have read about these ,  what If I intend of not going back to live in the property after the limited time the lender  gives me

thank you 
Rosa 

rosa246are

@K_S

Could I possibly have lodgers in the first property I bought to make up for the mortage repayments then use my income for the second morgage payments

regards 

Rosa 

grumiofoundation

rosa246are said:

@K_S

Could I possibly have lodgers in the first property I bought to make up for the mortage repayments then use my income for the second morgage payments

regards 

Rosa 

If you aren’t living there they won’t be lodgers. 

amnblog

You would normally get consent to let now, then remove to buy to let when your current mortgage product term expires Rosa.

If you are moving elsewhere in the Country and seeking a mortgage for a new home there are a couple of points you should note:

Your occupation would need to be unaffected by the move
You will pay 3% extra stamp duty land tax on the new purchase