Remortgage to release funds for deposit?

A question about : Remortgage to release funds for deposit?

We are considering the possibility of remortgaging our current house as a buy to let with a bigger mortgage and using the released cash as a deposit for a new house.

Is this advisable? Would a lender allow us to live in our house for a month after remortgaging while we look for a second house?

The plan would be to use a letting agent and for the income to cover the cost of the mortgage. The only financial pitfall I can see is if we had a period without tenants then we'd be paying two mortgages.

Any advice or suggestions are very much appreciated.

Best answers:

• Depends on how much equity you have.
  There is many pitfalls when becoming a Landlord, not just void or non-paying tenants.