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Unemployed with owned rental property
Options
david_h67
Posts: 1 Newbie
Hi, looking for options here. I am currently unemployed but actively looking for employment, it is taking some time to find work. I have limited savings but worried they will not last. I live in a mortgaged property but also own outright a rental property. I am wondering what options I may have to release some funds from either of my properties.
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Comments
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Assuming you declare the rental income and that income is below £25k a year, you might have a couple of options but they will be limited. You will probably need a broker.
BTLs are not really my thing (I only do maybe 2-4 a year), so my knowledge is not exactly the best. But from memory there should be some options.I am a Mortgage AdviserYou 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.1
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