BTL 2nd property investment help!



New Member
Hi All, I am looking to buy a second apartment (I live in the first one on a residential mortgage). I have placed a 5% deposit for an apartment with a 10 year rental assurance in place, and it will be completed in over a year, it is off plan, but have to pay 30% deposit in total for the property now (over a year before completion),is this correct? I did not realise i would have to pay the additional 25% straight away.

My solicitor has not taken me through the paperwork, is this normal? They do not respond to calls,only emails so left me confused with the finer details.

Am I at risk at the moment due to the covid 19 situation, banks are not lending. I have so many questions, just need some advice .I might just have to pull out as communication has been poor