Where someone is living in say a flat and now has seen a house that they wish to buy and live in, and they wish to retain their current property and rent it out this mortgage fits the bill.

You will need to get from a local letting agent a rental estimate to show just how much rent you can expect to receive for the rental of the property, as your lender for your new property will want to be sure that your current property can sustain itself and will not cost you additional money that would put a strain on your income.

Obviously for you it important that you r are not then effectively paying for 2 properties so the checks are made to make sure that this is not the case.

Your current mortgage will be checked for a good payment record.

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