Can I live in my Buy to Let property in the future?

Posted on 28 December 2010 by zopo

I own a property and would like to buy another property to live in. We are self employed. Would it be possible to buy another property using a buy to let mortgage and later down the line live in that property and let our current one out?


It is possible to buy a property with the intention of letting it and then decide in the future to live in it. However, you need to think carefully about what your plans are and the timescale involved. It would be very possible to find yourself stuck with a mortgage with a higher interest rate, a larger arrangement fee and early repayment charges that prevent you from remortgaging to a cheaper deal.  That said, there may be some tax advantages to living in the rental property for a period of time.

I recommend that you speak to an independent mortgage broker and a specialist independent tax adviser before making any decisions on how you wish to proceed.


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