Remortgage Buy to Let

[emski1972]

I need some advice...
I have a flat I let in SE London which has approx 200k equity.
We live in Sussex and I had a tiny mortgage but had to buy out ExH so now it’s nearly 300k.
It’s got a small galley kitchen and no parking (think skinny terrace cottage) and I’d like to move but I’m looking at 500k for a semi round here...
I can’t sell the flat so I’m thinking take 100k from the equity and keep renting it out.
What do you think?

Sounds perfectly ok as long as you can afford the increased mortgage payments on the flat.

Remember you don’t get tax relief in the mortgage interest anymore ( or not as much) so figure that in