Thanks for your responses.
kent614 - yes I have saved capital in the bank. But my thinking is that I could use that to buy more than one property if I borrow as well.
For example, I could buy 2 properties using part cash, part mortgage on both. I am better doing that aren't I than using all of the cash and borrowing less for one property? I would still be playing it relatively safe as I would only borrow about 60% LTV on both.
As an example:
Property 1 - £120k. Borrow £72k. Put £48k of my own cash in.
Property 2 - £120k. Borrow £72k. Put £48k of my own cash in.
My question was really around whether a) I am able to borrow the money using my residential property as the guarantee
b) how much advantage does this actually have in terms of getting a better mortgage product, as oppose to getting a buy to let mortgage product.
I'm probably best speaking to a mortgage broker but just thought I'd ask the question here first.