Hi all,

I'm looking for some advice on venturing into the let to buy market. Basically, I want to move to a bigger house but keep my existing house and rent it out. My figures:

Current house value: £200,000
Outstanding mortgage: £118,000
Annual salary: £44,000

With those figures, what's the ceiling price for my new house? I'm looking for a house around the £300,000 mark. I'm guessing I'll need to wait and pay a chunk off my current mortgage. If so, how much would that be?

Or I could do this myself if someone can point me to a decent let-to-buy calculator that takes into account current equity, salary etc......

Thanks in advance