Do the sums work to allow me to become a buy-to-let landlord?Q I'm thinking of renting out my home and buying a moment house in the near future. My current house is worth around £105000,the mortgage is £82000 and I reflect I could secure around £475 a month in rent for it. I'm looking to buy a moment property with my girlfriend for around £150000. I earn £30000 a year and she earns £17000 a year. MWA Your way to rent out your house while buying another property with your girlfriend seems to work but only up to a point. Because you don't need to borrow more than 80% of the value of the property you could convert your current mortgage to a buy-to-let mortgage. If you wanted to borrow more than 80% of the value of your property, buy-to-let would not be an option because 80% is the most a buy-to-let lender will lend.
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Source: theguardian.com