Getting a mortgage for 90% of your new property would be expensive. You would be wise to do whatever possible to reduce this down to 75%. The most expedient way to do this would be to raise the additional 15% required from your other property which you intend to rent out.

An independent mortgage adviser should be able to help you with a case like this without too much difficulty. This sounds like a reasonably straightforward case to me. There are also options available to you to make the mortgage a little cheaper, such as taking it on an interest-only basis initially.

Wondered if anyone had any advice on this predicament.

Got a house worth £140K which can't sell at present. Starter home. Reasonable condition. Own outright.

Would like to buy a property at £260.

Without money from starter home will have a 10% deposit only and have to get a mortgage to cover the rest. Would rent out the starter home approx rental £500 pm after tax etc.

My question is, what sort of mortgage would we be able to get based on renting out the starter home until we can sell it, would we get a preferential one based on the fact that we already own a property which we could use to secure a mortgage?

I have no idea if this is feasible, I think the mortgage would cost too much but appreciate any ideas.

Elaine