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Dory14
Dory14
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7 Posts
1 year ago
0

Hi, I have 6 BTLs and because of increases in affordability criteria I am struggling to get a mortgage for myself to move house. lots of companies wont touch me due to my BTLs. Broker says they are stress testing BTLs at 6/7%. I want to move to a house costing £360000 (it will be my main residence) and max mortgage on a tracker (which is my preferred option) is £144000. I have £175000 deposit, leaving me short by £41,000. I am hoping to sell one of my BTL early next year when the fixed rate runs out so can pay the £41000 back then. Is my only option bridging finance?

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