Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I currently own a Buy-to-Let house in which I have a tenant. This property has a BTL mortgage on it. I have just been offered the option to purchase a more attractive property in the same village and wish to do this, also on a BTL basis. However, I will need to sell the current property. I am able to port my existing BTL loan and will not need to change the size of the loan.
As the houses are similar in size, my current tenant is very happy to move to the new house for the remainder of his tenancy.
My question is, how can I sell one BTL property to purchase a second one and move the tenant between them? What sorts of issues will I come up against with the lender (assuming that the new property is acceptable to them as security for the mortgage)?
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