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  1. #1

    Using remortgage to fund BTL

    Hi there,

    New to the site, so forgive me if this has been posted a thousand times! Our residential property is jointly owned and close to mortgage free, but my spouse and I would like to remortgage, release some equity, and use the proceeds to purchase a BTL, either partly or in whole. The idea is to create a regular income stream to enable one of us to reduce their commitment to their stressful job.
    In addition, is it permitted to purchase the BTL is my spouse's name, as this would likely be more tax efficient (or do I mean cheaper?).
    Never looked at releasing equity before, so I'm not sure of the restrictions or the rules on disclosure, not to mention the legality of such an arrangement!
    Can anyone help me regarding feasibility and/or legality please?
    Thank you!

  2. #2
    Lee, you might want to have a gander at this to avoid you getting a banning;-

  3. #3
    If you have the equity and income you might be able to remortgage your home and release equity to buy another property to rent out.
    You can buy the new property as tenants in common with you owning 1% and your wife owning 99%
    Time to speak to a whole of market mortgage broker who deals in BTL.
    There are strick rules about posters giving advice or generating business from this site.

  4. #4
    Thank you all!
    I guess it's time to look for a mortgage broker!

  5. #5
    If avoiding stress is the aim, what happens if you end up with "difficult" tenants ?


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