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Is a Residential Mortgage OK?


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I currently own and live in a flat (residential mortgage). I have just put an offer in for another property (Flat) and it has been accepted. The property is currently tenanted (privately) and they wish to stay for a year if possible. The vendor is ok with this.

I'm in no hurry to move and would like them to stay. However I will definitely be moving in the next 12 months. A mortgage broker informs that a residential mortgage should ok.

I have a couple of questions:

* Can I apply for a residential mortgage? Seems a bit silly if I'm going move in within the next 12 months to get a Buy-to-let mortgage.

* I have been informed that if I apply for a residential mortgage it is not wise to tell my solicitors that the property might to tenanted otherwise they will insist on a Buy-to-Let mortgage.

* What is the best approach for making sure the transfer of landlords is smooth e.g. do I contact the vendor directly about tenants, speak to them and give them a new tenancy agreement.

* Lastly is the Service Charge on the flat like interest payments, repairs, insurance and can be offset from the rent income.

I would be very grateful for any advice

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