ASK296: Should I buy another BTL or a bigger home? PLUS: Will my next mortgage be a problem?

The guys are back for another fantastic episode of Ask Rob & Rob. 

First up this week we’ve got Lil who’s looking for an answer to a common question we get asked.  

Lil currently has a residential property in London that she lives in, and a buy-to-let property in Liverpool.  

She’s going to be moving cities soon and needs a property with more space, so she’ll be switching her residential property into a buy-to-let property. 

In the short-term, Lil plans to rent herself until she finds the right property, but she can’t seem to figure out which scenario is best.  

Should she use the money she has to purchase a bigger property that’ll serve her needs, or should she put it into another buy-to-let property and continue to rent herself? 

Our next question comes from Bern who has a question about mortgages. 

Currently Bern has two buy-to-let properties, one in his personal name and another in a limited company.  

Bern is planning to purchase another buy-to-let property through his limited company, and then look to purchase a residential property for himself. 

He’s wanting to know if when it comes to purchasing the residential property if he’ll have any issues getting a mortgage if he already has three other properties? 

Tune in to find out. 

 

Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).  

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