Mortgage/Financial advice

Seeing as the wrath is the font of all knowledge can anyone furnish me with basic costs/finances around this and if it is even possible.

Own my own house outright (valued at 350k) and looking at a new one at £530k with about £100k savings. Estate agent has suggested doing a buy to let on mine with an interest only mortgage and getting mortgage for new house. I reckon I could rent mine out for £1200 a month.

Anyone on here done similar or have any idea how that would work and roughly what I'd expect to be paying out a month on the new mortgage? They reckon rent would cover the interest only one and put some towards the new one but comparison sites aren't helping me.

Posted By: jonnym6, Jun 27, 17:29:02