Jump to content

What order do I do things!?

Recommended Posts

Hi all,

I have my own house and I want to release some equity to do my first BTL. I just wanted some advice as to what order do I do things.

I know I need to apply for further lending,

Find a BTL mortgage,

Find a property.

What order do people usually do things in? I don't want to apply for further lending and then have to pay a higher repayment for the mortgage on my residential home until I can put it on deposit. I don't want to put an offer in without any money at all!

Any advice?


Link to post

Hi Dafydd! There's no "right" answer, but I'd recommend having initial conversations with your existing lender and a broker before you sink any time into looking at property – otherwise you might be way off the mark in terms of what your budget is going to be.

Link to post

Hi there :),


I have literally just done this and I remortgaged my residential house first got the money out (it took me around 2 months to do) and I am currently using that money to buy a BTL house. 

Yes it did mean that I paid a month of extra repayments however that made me push even harder to get a BTL property. Remember that any good investment deal you will need to move fairly quickly on. Plus when you put an offer in on a house the estate agents are going to ask for proof of funds which is usually a bank statement with cash in it.


The estate agent will probably get quite confused if you show him your house as proof of funds >.<, not impossible just a lot slower.

Take a look at www.dentistryblogger.com

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...