100% Mortgage and Investment

K

kaiser

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Just a quick question to anybody in the know.

I had an idea to try and get myself an investment property.Could I approch First Active and seek a 100% mortgage for the purpose of buying myself a new home while at the same time keeping the house Im in now with the intention of renting it out?
 
If you have equity in your current property you can secure the loan against that and the new house and so the bank will not view the loan as a 100% mortgage. Even if they require separate business and private mortgages the loans can be secured against both properties. This way you can borrow 100% of the cost of your new house 'though your overall borrowings will not be 100% of your overall equity.
 
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kaiser said:
Just a quick question to anybody in the know.

I had an idea to try and get myself an investment property.Could I approch First Active and seek a 100% mortgage for the purpose of buying myself a new home while at the same time keeping the house Im in now with the intention of renting it out?
Click to expand...

nope, its for FTBs only... or so the terms and conditions say...
 
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