davidjoemum
mum to Davie and Sophie
- Joined
- Oct 30, 2011
- Messages
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Hi we have 2 property we own outright.house we live in and flat we renting out.
Now we in a bit of financial needs atm.our house need few repair and need to pay loan and oh found out he owes £12000 to tax man ( his fathers fault but that's the other story) now we wanted to sell the flat which is worth£250000 and we planned to do that spring next year but we talk and talk and maybe would be better to take mortgage on flat for £50000 and keep renting out not selling than this money would solve all our problems.
Now how it is would that be mortgage as buy to let where I should look for advice I never take mortgage neither oh so I don't even know how all process looks like.
What papers we need do we need provide our income even if is only fracture of amount flat is worth and it will be rented out?
Thank you in advance
Now we in a bit of financial needs atm.our house need few repair and need to pay loan and oh found out he owes £12000 to tax man ( his fathers fault but that's the other story) now we wanted to sell the flat which is worth£250000 and we planned to do that spring next year but we talk and talk and maybe would be better to take mortgage on flat for £50000 and keep renting out not selling than this money would solve all our problems.
Now how it is would that be mortgage as buy to let where I should look for advice I never take mortgage neither oh so I don't even know how all process looks like.
What papers we need do we need provide our income even if is only fracture of amount flat is worth and it will be rented out?
Thank you in advance