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Mortgage - Buy to Sell

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  • Mortgage - Buy to Sell

    Would I be able to use the equity in my current home to remortgage and buy a second house to renovate and sell?

    Also, if I then decide to rent instead of selling the second property would that be a problem with regards to the mortgage?

    Any advice much appreciated

  • #2
    Re: Mortgage - Buy to Sell

    Yes, you should be able to.

    There shouldn't be a problem with renting the property either.

    I would suggest you think about whether you want to resell or keep the property before taking out the mortgage. If you are planning on reselling then I would say that you should ideally go for a buy to let without an early redemption penalty, which may cost a bit more in terms of interest rate. All depends on how long you think it will take to renovate and put back on the market.

    Without knowing your full details/circumstances, the above should only be considered as general advice, rather than specific advice for your personal case.

    Hope that helps.
    Ailan - ALQ Mortgage Consultancy
    Best Mortgage Rates

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    • #3
      Re: Mortgage - Buy to Sell

      I don't think Let to Buy would be applicable to an investment property.

      As I understand it, racman want's to release equity from his residential property (the one where he actually lives) to invest in another (investment) property, renovate and either sell on or rent out. I don't know of any lender out there who would offer a let to buy mortgage on investment properties.
      Ailan - ALQ Mortgage Consultancy
      Best Mortgage Rates

      Comment

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