Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I own a house worth £320,000 with no mortgage or loans.
I want to buy a ‘buy-to-let’ property for £180,000
1: Can I get a’ buy to let’ mortgage at my age (69) without declaring my income? I understand that providing I can demonstrate that the rent will easily cover the mortgage and running costs, there should be no need to do so.
2: How long could the mortgage period be? Does my age matter in this?
3: Is it possible for me to be able to raise the necessary deposit for the ‘buy to let’ by taking out a small mortgage on my house? say £60k?
Any help or advice you could give me would be very much appreciated.
Many thanks in advance in hopeful anticipation!
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