advice on mortgage

[jilly55]

Anyone know where i'd stand in this situation or a rough idea anyway, Got my house on the market, and a cottage i really want has come on to the market, any possibility i could rent my house out and get a mortgage for the cottage, i have £100,000 equity in my property plus i have £100.000 motgage, my partner owns a property too which he rents out and he owes about 30,000 on his mortgage

[silliemillie]

Let to Buy (as apposed to Buy to Let) mortgages are available.

Obviously you would have to speak to a Mortgage Advisor who will assess your details but with 50% equity sounds promising.

Hope that helps a little. Good luck

[ubasses]

Agree, it should be do-able but you will be looking at Buy To Let Mortgage.

[silliemillie]

It would be a Let to Buy mortgage, Jilly wants to let her original property to buy another, not buy a property to let out.

[ettelloc]

You can do it you would just have to meet the criteria of the lender i.e. certain LTVs etc