We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
converting to buy to let
missbee20
Posts: 3 Newbie
Call me dim...but I am confused. I have a house worth 125,000, and a mortgage for 56,000 on it. I am re-locating to the south and will rent there for at least 6 months, I will be letting my current property. Should I convert my mortgage to buy to let? What are the advantages? I don't even know where to start!!
Thanks!
Thanks!
0
Comments
-
Its not essential to get a BTL mortgage.
Your current provider MAY issue a 'consent to let' letter.
There may be charges.
However, this is the least of your worries when letting.
Check out Landlordzone to do it right
Tass0 -
Hi it is best to check with your current mortgage provider if you are not in a position to move to a buy to let mortgage as they may charge a percent or so more for you to rent it out! Thing is if you dont tell them and they find out there maybe trouble!
Its very true that this could be the least of your worries if renting!!O/S weight loss 2.5 /10lbs (11st 8.0- 08.02)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards