Can we get a let-to-buy mortgage as we already own property abroad?

Posted on 13 August 2007

We own a flat outright which is currently rented.  Is it possible to get a buy-to-let or let-to-buy mortgage as we wish to buy a property in Portugal?  We also own outright an apartment in Portugal.


Yes absolutely, and you are right it would be a let-to-buy.  Most lenders would just call this a BTL remortgage with capital raising (even though it is from £0), and you are welcome to raise money for any legal purpose so taking the money to buy abroad is fine.  You can borrow up to 85% of the property value for the best rates. 
 
It sounds like a lovely plan, good luck with it.

Katie

Category: Buying abroad, Let-to-buy

 

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