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matty c

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  1. 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.
  2. Hello I am a newbie looking for some advice on how I should go about achieving leverage. My situation is that I am very happy in my job and looking to invest my saved capital in property rather than keep it in the bank. The main aim is capital gains over the long term. I have no mortgage on my residential property which is worth in the region of £340k Should I/can I use my residential property to borrow the money I need to fund my property instead of looking for a buy to let mortgage on the properties I purchase? I am thinking that the main advantage would be a better mortgage product with a better rate. Or do lenders insist that you borrow the money on a buy to let basis? Any information very much appreciated.
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