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  • Property-a-holics

    Start off as BTL but possibly move in later

    Just having a long term thought about a possible relocation in about 10 years.

    Buy the property as a BTL and then possibly move in quite a few years down the road.

    Anyone done thisnor can see any pitfalls? Obviously would have to convert to a resi mortgage at some point.

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    No pitfalls as far as I am concerned.

    We've already bought our "forever" home in Dorset, currently rented out.

    When the time comes, we'll change it to a resi mortgage and move in.

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    Just changing a BTL into a residential mortgage for a client right now. Just sure you'll meet affordability to cover what you need on the outstanding balance.

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    You can contact me via Direct Message, or 07788 219647 or call the team on 01206 654444 for personalised quote and advice


    If/when you ultimately sell the house once it has become your main residence one day there will be CGT to pay due to the time it was a BTL.  This will mean that if you improve it after it becomes your own house you will need to keep good records of every penny you spend.  Most normal homeowners probably don't bother.  Not a massive downfall, just is what it is and should be considered.

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    Thanks James, will try to remember that as every penny saved.... ;->

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