|
Not logged in [Login - Register] |
You Are Not Registered Or Not Logged In |
Corsa Sport » Message Board » Off Day » House Day » Might be buying a second property » Post Reply
|
Ian |
posted on 8th Jan 07 at 12:27 |
I would guess between 15 and 20% deposit so you're breaking even. You don't want to be too far in profit because of the tax liability. | |
shawboy |
posted on 8th Jan 07 at 12:04 |
its 15% for a 2nd mortgage, my dads been looking into last month. | |
Colin |
posted on 7th Jan 07 at 21:02 |
Also you will pay tax on the rental income. | |
Thoday |
posted on 7th Jan 07 at 20:49 |
I think Colin is right 20% poss and ur rental income if its a by2 let has to be sumthing like 20% more then the mortgage per month | |
Colin |
posted on 7th Jan 07 at 14:30 |
Im sure for a buy to let mortgage you need a large deposit - 25% Iirc. | |
Aaron |
posted on 7th Jan 07 at 11:34 |
Yeah i see what you're saying | |
Russ |
posted on 7th Jan 07 at 11:20 |
you might struggle to get the two mortgages mate, depends on how much your outgoings are, as your never 100% certain whether its always gonna be occupied | |
Aaron |
posted on 7th Jan 07 at 10:57 |
Right... |