Hi,
I would be grateful for some advice, please. I have recently moved to Canada from the United Kingdom. I have four properties in the Europe which I rent out and am looking to invest in property in Canada.
For various reasons, I am not in a rush to buy a principal residence in Canada. Very happy with the home we are renting. So I am thinking of buying (with a mortgage) an investment property before owning a home in Canada. How will this go down with lenders and is it even possible? I’m thinking a fairly vanilla investment to begin with – just a single let.
I’m lucky enough to have a decent salary from my main employment in Canada and did so in the UK before the move.
In the UK it would be possible to get a mortgage for an investment property before buying a home of your own, but it would restrict the potential lenders. Any idea how would Canadian lenders regard this?
Much appreciated, Andy
PS Apologies for cross-posting on two forums – finding my way to the views of other investors.
I would be grateful for some advice, please. I have recently moved to Canada from the United Kingdom. I have four properties in the Europe which I rent out and am looking to invest in property in Canada.
For various reasons, I am not in a rush to buy a principal residence in Canada. Very happy with the home we are renting. So I am thinking of buying (with a mortgage) an investment property before owning a home in Canada. How will this go down with lenders and is it even possible? I’m thinking a fairly vanilla investment to begin with – just a single let.
I’m lucky enough to have a decent salary from my main employment in Canada and did so in the UK before the move.
In the UK it would be possible to get a mortgage for an investment property before buying a home of your own, but it would restrict the potential lenders. Any idea how would Canadian lenders regard this?
Much appreciated, Andy
PS Apologies for cross-posting on two forums – finding my way to the views of other investors.