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Holiday let mortgage when own mortgage is interest only?

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MoneyLearner99
MoneyLearner99 Posts: 2 Newbie
First Anniversary
in Mortgages & endowments
My husband and I have an interest-only mortgage. We are considering buying a small holiday let home, with a possible view to eventually selling our own home and retiring to the holiday let.

We are at the very early stages of thinking about it and we wonder if it is even possible to get a holiday let mortgage if you have an interest-only mortgage on your home?

Are there any other need to knows at this stage?

Many thanks in advance for any advice. 


Comments

  • ACG
    ACG Posts: 24,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The new lender (for the holiday let mortgage) will not mind if your residential mortgage is interest only. They also wont know anyway. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
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