Renting your home & buying another

sebastianj

I know there are lots of saying about when people start to get old, similar is happening here. Can one rent their property(Mortgage free) and use that income to buy another.

Which building society is the best to approach.
regards
seb

dpesky

Yes they can - its called a "let to buy". You will still be advised to put down a deposit on the new place which will allow you to get better rates from the mortgage lenders. Most lenders will do this so use a broker to do all the research for you, saving you time and money...... Good luck!

Owner of a Nationwide Mortgage Brokerage and features writer for UK mortgage magazines

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.