Will buying a BTL affect residential mortgage?

[Megcan]

Hi all, just wondering if anyone has any experience ! We are hoping to purchase a BTL property in the new year - but plan to move house in November and as a result, increase our residential mortgage? Is it likely
to affect us qualifying for a BTL mortgage if we have only had a new residential mortgage for a short time ? Thanks !!

As long as you have 40% to put down on the BTL it shouldn't be an issue. It might be if your trying to do it with a lower ltv. It's not possible to be sure as btl lending criteria seems to getting adjusted frequently at the moment and they are all doing it a little differently.

So your current residential mortgage is going to be a re-mortgage?

BTL property mortgage will be worked out on rental coverage, so they won't be too interested in your salary, though most like you to earn over £25k.