Can I get a residential mortgage when i own a buy to let property? I currently live at home?
Friday September 26th, 2008
Posted Under: Personal Finance
Alan S asked:
I currently live at home but have a buy to let property in Kent. I have been offered a job in Berkshire so will be moving out and am reluctant to sell the flat! Can I get a seperate residential mortgage for me to live in and have two mortgages from just the one salary?
Alan S asked:
I currently live at mortgages from just the one salary?
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Mortages are granted based on your ability to PAY. . If you rent your residence you must declare that as income. Same with property tax–must pay for both and only the house you live in has the homstead exemption.
Mortages are granted on the ability to PAY.