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Original poster

Mortgage conumdrum

2 replies

NeedMoreSun · 15/08/2024 18:42

Is there any way to make this situation work?

I'm separating from my husband - I have a buy to let that I want to move back into as a stop gap until I find a suitable property, but we still have the mortgage on the family home (ideally wouldn't complete a sale on the family home until March due to ERCs).

I obviously can't keep the BTL mortgage with it empty or me living in it, so I would need a residential mortgage but I won't have sufficient disposable income, given the existing mortgage on the family home.

How do I avoid having to sell the BTL before selling the family home? I was hoping that it would make the move from the family home smoother as only one of us would be in a chain buying a new home, so less likely for a sale of the house to fall through.

OP posts:

ACynicalDad · 15/08/2024 19:36

I'd probably chance it on the BTL mortgage and not get around to sorting it as you have so much else on. I doubt you'd get more than a slap on the wrists.

Biggaybear · 16/08/2024 01:41

ACynicalDad · 15/08/2024 19:36

I'd probably chance it on the BTL mortgage and not get around to sorting it as you have so much else on. I doubt you'd get more than a slap on the wrists.

This.

I had a client in this position who had been back living in the BTL property for almost 12 months. Only became an issue when the fixed rate came up for renewal & lender said it had to go back to a residential loan.

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