I currently own a flat with my husband, but we are looking to move to a bigger property. We would like to keep the flat to rent out, rather than sell it. We have a outstanding mortgage with a building society of c.£120k on flat, which is valued at c.£240k. The new property we are interested in is £340k.

Is it possible to transfer our current mortgage to a buy-to-let (including requesting this for £150k to give us a £30k deposit towards the new property) then get a homeowner's mortgage on the new property?

Hi...the amounts seem fine loan to value wise, but you would need to ensure that around 750p.m is achievable for the let property? BTL products will base their lending on at least 100% coverage of the interest portion of the mortgage being covered by the rent, this will be assessed by the valuer usually. If this is fine so far your new property will be based on your income alone.

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Regards

Ian