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Can I raise money on my unencumbered home to purchase a Buy To Let property?

Posted on 21 August 2013 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

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.

Regards,

Simon

simon.collins@johncharcol.co.uk

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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.

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