Hi there
My DP is looking to purchase a house and I would look to move in with him next April when my mortgage period is up. He is having to get a 95% mortgage on a 300k property. The house is sufficient for him and his two DSs to live in (he has them 50% of the time). However if my two DSs and I were to move in we would have to look at extending it. I own a house thats worth approx. 260k and my mortgage is 127k. Ideally what Id like to do is change to a buy to let mortgage, rent my property out (was recently quoted 1300 by three agents) and release some cash in order to fund the extension. I would also look at me going on his deeds/mortgage to safeguard my financial input.
Is this a possibility do you think or am I living in cloud cuckoo land??
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3 replies
DLCC · 03/03/2014 15:58
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