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    • flameshouse
    • By flameshouse 29th Nov 17, 10:22 PM
    • 6Posts
    • 4Thanks
    Buying a second home and renting our origonal house
    • #1
    • 29th Nov 17, 10:22 PM
    Buying a second home and renting our origonal house 29th Nov 17 at 10:22 PM
    Hi, Myself and a partner are trying to buy a second house to live in without selling our current property.

    Natwest has informed us first that we would be ok to leave just 10% equity in our current house (we were going to leave 15% in it anyway) and use the rest of the equity to buy a second property. we made an appointment with a different mortgage advisor and they said we would have to leave 25% in our current home. now there seems to be a branch war going on about who's right, as we've spoken to two different mortgage advisors and they're both sure they're right, as are their boss's...

    can anyone here offer any advice on who may be correct, i know most buy to let mortgages requier 25% however we're not buying to let as such, has anyone else left as little as 10% in a house when buying another?

    thanks in advance for any info! scoured the web but can't seem to find much
Page 1
    • YHM
    • By YHM 30th Nov 17, 9:56 AM
    • 537 Posts
    • 198 Thanks
    • #2
    • 30th Nov 17, 9:56 AM
    • #2
    • 30th Nov 17, 9:56 AM
    Why don't you step away from Nationwide and let a Broker do the legwork for you?
    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
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