unencumbered home to purchase a Buy To Let property
Posted on 21 February 2019 by Katie
Hi, I own a property worth £1.6m (fully, no morgage on it). I would like to morgage it to raise funds to buy to rent another property for £600-750k. What options do I have? Many thanks, Katie
Without knowing more information around your overall financial position, such as your income, other liabilities, and general credit history, I can't give you a definitive answer, however on the face of it, I can't see why you shouldn't be able to raise a mortgage on your existing home, to purchase a new Buy To Let.
The best thing would be to have an initial discussion with one of our consultants to go through your enquiry in more detail to see exactly what's out there in the market for you.
Please let me know the best time for and I'll arrange for one of them to contact you.
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.