From: Mike Muppet 
Newsgroups: uk.finance
Subject: Re: First House mortgage or Buy to Let
Date: Fri, 25 May 2007 14:05:21 +0100

Ronald Raygun wrote:
> John Boyle wrote:
> 
>> In message <1180026589.989816.80930@k79g2000hse.googlegroups.com>, kalas
>>  writes
>>> I'm going to buy my first property... a 3 bedroom house in London.
>>> I/m going to let two rooms and stay in the third one.
>>>
>>> Should I look for First house mortgage or Buy to Let mortgagte...
>>> which one is better for me?
>> A first house mortgage, so long as your income is enough.
> 
> Agreed.  Why?  Because the interest rate is likely to be lower.
> 
> On the other hand, for an FTB to take on a 3-bed in London,
> he'll be struggling unless he's on a jolly decent income.

Or he can visit his friendly, honest IFA who'll simply lie about his 
income to secure the loan and in the process secure himself a big, fat 
wedge from the mortgage company.

Mike