I have a property which I would like to change to a buy-to-let mortgage to free up some money as a deposit for a new property. Two questions: firstly, is it better to try and do a combined deal for both properties with the same lender or should I set up the B-t-L first / separately? NB. we have an offer accepted on a house so would like to move quickly.
Secondly, the B-t-L is in Northern Ireland and we want to buy on mainland UK. Are there some lenders who won't lend in NI if they have no 'base' there and if so does that restrict who we can go to for the B-t-L mortgage?
Should we be 'up front' with any lender about this dilemma and get their advice or see what they will do on a property by property basis?
Is this where a broker may be helpful because they can liaise with the lenders about our specific requirements?
Thank you whoever answers.
Secondly, the B-t-L is in Northern Ireland and we want to buy on mainland UK. Are there some lenders who won't lend in NI if they have no 'base' there and if so does that restrict who we can go to for the B-t-L mortgage?
Should we be 'up front' with any lender about this dilemma and get their advice or see what they will do on a property by property basis?
Is this where a broker may be helpful because they can liaise with the lenders about our specific requirements?
Thank you whoever answers.