Residential mortgage rate up for renewal: can I get a buy to let mortgage and then move abroad?
As per title, my current residential mortgage rate is up for renewal.
I'm considering quitting my job and moving abroad. Before moving though, I am considering getting a buy to let mortgage and then rent out my property for the term of the BTL mortgage. I'm gauging if this is a sensible way to retain a foothold in London whilst I take some time off abroad.
Yes, I have considered the costs of renting out a flat and the potential unpredictable repair costs. Yes, I have considered the logistics of managing a flat from abroad (not going to the other side of the world). And yes, I know I can get more money by investing in stocks & shares.
From what I've seen banks only assess residency at the point of application. However, as my residency will move abroad shortly after the application, this might raise red flags? Any help or experience with this is welcome!
Thanks