Hi, I own a flat outright which I currently rent out, with no outstanding mortgage debt, and would like to use it to raise funds to buy other properties. Can I get a BTL mortgage on the flat to release some of the equity?
Yes, assuming lease length is acceptable for mortgage purposes and you have your own separate income, most mortgage companies want you to earn at least £25k pa. You would apply as a remortgage even though there isn’t a current one.