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Mortgage Advice - To Buy to let? or not?

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  • Mortgage Advice - To Buy to let? or not?

    I bought my first property in 2005 and have lived in it for 2 years. I have just remortgaged it on a flexible, no tie-ins tracker mortgage. I have now been relocated through work and plan to rent my flat out while I am gone.

    I don't want to waste money renting somewhere else so am considering buying a cheap flat to live in once relocated and hopefully renovate it and make some money.

    How does this work with mortgages, as this second time buy would not be buy-to-let as I am intending to live in it?

    Any advice would be gratefullyy received.

  • #2
    Ouch - sounds complicated.

    I think it's definitely worth having a chat with your original lender, as if you're thinking about letting out the first property, it's possible that this may change the terms of the original agreement.