Quote:
Originally Posted by !SCEPTER300R
as for affordability or purchasing as a rental property make sure when you do apply for the mortgage just apply as a second home purchase rather than rental propery cos the LTV (loan to value) for rentals is 50% for most banks where as for second home can be same as your regular mortgage at 80% depending on how much money you make.
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That's fraud BTW, and most mortgages has clauses you have to sign stating your intended purpose. If that changes, and your mortgage company finds out, they "could" penalize you, yet it is highly unlikely.