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Does HSBC allow this...Let to Buy Scenario
IAMIAM
Posts: 1,310 Forumite
Salary £55k
HSBC Residential 185k MTG vs 240k Value (75/80% LTV) move to consent to let, maybe move to buy to let straight away with them, or until I am able to move onto it when 75% LTV?, rental will be around 900 - 950 a month.
New Residential Purchase with HSBC 180k MTG vs 200k value.
HSBC Residential 185k MTG vs 240k Value (75/80% LTV) move to consent to let, maybe move to buy to let straight away with them, or until I am able to move onto it when 75% LTV?, rental will be around 900 - 950 a month.
New Residential Purchase with HSBC 180k MTG vs 200k value.
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Comments
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They would not move to Btl even at 75% ltv as that rent only supports a max loan of £139k on a 5yr fix and basic rate tax.
They may do consent to let but this will be down to them as its over 75% there will be more of a sanity check as to why you can't sell.
As ctl is designed for situations where you are moving back after a short period, doing a new purchase with them is unlikely to be a good look1 -
As above, you won't get enough loan based on that rent. The numbers do not work so it's not a good rental investment. Why don't you want to sell it?0
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