Can we get a Buy To Let & then change to a residential later?

Posted on 25 January 2015 by Hugo

Hi, We are wanting to buy a house for £640,000 and it would be 57% LTV with a £300,000 deposit. The house is let until November and we would need to buy it with a buy to let and then change back to a residential when the lease it up (around 8 months). The advisers we have spoken with say that we cannot use the deposit from our own home to use it for the buy to let and that we cannot proceed with this purchase. Thanks.


I think that this may be something that can be done, however due to the nature of what you are trying to, it is more likely that we will be looking at some form of bridging finance, rather than a Buy To Let loan, which can then be changed to a residential mortgage.

Although this type of lending is more expensive, it would allow you to complete the purchase now, and then in November when the tenants have vacated, we can remortgage onto a standard residential product.

If you'd like to talk this through in more detail, then you can call one of our consultants on 0344 346 3672 and they'll be able to give you a more detailed idea of how exactly how this would work.



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