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Original poster

Anyone know about Let to buy mortgages - NOT buy to let - please

1 reply

MaggieW · 14/06/2007 11:16

I'm aware of a product which enables you to remortgage your existing home to then allow you to buy a new one. Apparently the rental income from the original home is part of the calculation in the size of the mortgage given for the second ie the income is part of the repayments of the subsequent mortgage. I know no more than that and don't know where to start. Can anyone advise or help please?

OP posts:
justaphase · 14/06/2007 11:23

Never heard of this but would be interested to learn more as I am considering exactly that. Is it not just semantics?

What are you going to do with your current house?

If you are plannning to rent it out you can offset the mortgage payments against tax so it is better to go with a buy to let (or rather remortgage to let) mortgage.

I am no expert btw, just thinking aloud.

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