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BTL switching to build a portfolio
heston2014
Posts: 208 Forumite
Hello
Looking for some advice, we have a residential rental property on consent to let, well Halifax has added extra interest this year so we no longer need to renew consent to let.
We are looking to buy another property to rent out and would like to switch the current one to a BTL mortgage, possibly raise funds for a deposit to purchase a second rental property and have two BTL mortgages. The additional borrowing is optional, our main priority is to get on to BTL so we can build a portfolio (slowly but surely).
Thinking of speaking directly with Halifax, or should we try a broker?
Our target tenants are students and aiming for max 3 bedroom properties so will require HMO license.
Thanks for taking the time to read my post. 🙂
Looking for some advice, we have a residential rental property on consent to let, well Halifax has added extra interest this year so we no longer need to renew consent to let.
We are looking to buy another property to rent out and would like to switch the current one to a BTL mortgage, possibly raise funds for a deposit to purchase a second rental property and have two BTL mortgages. The additional borrowing is optional, our main priority is to get on to BTL so we can build a portfolio (slowly but surely).
Thinking of speaking directly with Halifax, or should we try a broker?
Our target tenants are students and aiming for max 3 bedroom properties so will require HMO license.
Thanks for taking the time to read my post. 🙂
0
Comments
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Thinking of speaking directly with Halifax, or should we try a broker?Halifax will only offer what they can do. Broker can offer from the marketplace.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
What you suggest is not Halifax's market. You need to consultant a Mortgage Broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.1
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