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  • FIRST POST
    • williom
    • By williom 14th Jan 20, 7:24 PM
    • 10Posts
    • 0Thanks
    williom
    Shored ownership buying Another
    • #1
    • 14th Jan 20, 7:24 PM
    Shored ownership buying Another 14th Jan 20 at 7:24 PM
    Hi
    I am currently own a shared ownership house in London for nearly 4 years , can I buy any other property as buy to let in England ?
Page 1
    • chanz4
    • By chanz4 14th Jan 20, 8:21 PM
    • 10,104 Posts
    • 3,007 Thanks
    chanz4
    • #2
    • 14th Jan 20, 8:21 PM
    • #2
    • 14th Jan 20, 8:21 PM
    why would you want to?
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
    • AdrianC
    • By AdrianC 15th Jan 20, 8:14 AM
    • 27,546 Posts
    • 27,721 Thanks
    AdrianC
    • #3
    • 15th Jan 20, 8:14 AM
    • #3
    • 15th Jan 20, 8:14 AM
    You can see the paperwork with whoever owns the rest of your current SO property. What does it say?
    • dimbo61
    • By dimbo61 15th Jan 20, 11:26 AM
    • 10,481 Posts
    • 5,675 Thanks
    dimbo61
    • #4
    • 15th Jan 20, 11:26 AM
    • #4
    • 15th Jan 20, 11:26 AM
    Why not !
    if you have the deposit and Income to get a BTL mortgage with a BTL lender.
    Where you live is not that important anymore.
    Getting through all the other hoops with becoming a Landlord maybe more fun
    • williom
    • By williom 15th Jan 20, 12:04 PM
    • 10 Posts
    • 0 Thanks
    williom
    • #5
    • 15th Jan 20, 12:04 PM
    • #5
    • 15th Jan 20, 12:04 PM
    why would you want to?
    Originally posted by chanz4
    I was thinking about buying more share in current property but it costing too much and going through all expenses again ie solicitor fee , new mortgage fee and hassle etc , so I thought to buy another buy to let instead,
    • williom
    • By williom 15th Jan 20, 12:06 PM
    • 10 Posts
    • 0 Thanks
    williom
    • #6
    • 15th Jan 20, 12:06 PM
    • #6
    • 15th Jan 20, 12:06 PM
    Why not !
    if you have the deposit and Income to get a BTL mortgage with a BTL lender.
    Where you live is not that important anymore.
    Getting through all the other hoops with becoming a Landlord maybe more fun
    Originally posted by dimbo61
    Thanks for your help , 2 years ago I spoke to my mortgage broker on that time she advised while you having shared ownership house you can not buy any other since then I never thought abt it but now I thought to find some useful information here.
    • 00ec25
    • By 00ec25 15th Jan 20, 1:27 PM
    • 8,962 Posts
    • 8,882 Thanks
    00ec25
    • #7
    • 15th Jan 20, 1:27 PM
    • #7
    • 15th Jan 20, 1:27 PM
    Thanks for your help , 2 years ago I spoke to my mortgage broker on that time she advised while you having shared ownership house you can not buy any other since then I never thought abt it but now I thought to find some useful information here.
    Originally posted by williom
    more likely your wires are crossed

    most (but not all obviously) shared ownerships will require you to use the property as your main home.
    Your plan implies you intended carry on doing so, therefore I can't see a reason why they can stop you from spending your own money on a property you will not be residing in because it will be a BTL whilst you own it
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