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Corsa Sport » Message Board » Off Day » House Day » Buy to let property » Post Reply
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Fro |
posted on 20th Jul 11 at 15:21 |
Mate of mine bought a flat recently on a normal mortgage, its no where near his place of work. | |
James |
posted on 19th Jul 11 at 09:03 |
I got 90% LTV about a month ago. They are common, not great interest rates though. | |
Robbo |
posted on 19th Jul 11 at 08:23 |
quote:Really?? I should have looked to buy then :lol: | |
Toby |
posted on 18th Jul 11 at 16:57 |
quote: I can send you a BTL mortgage proposal from Feb thats 25% if you want. Also i wont get repossed if i considered doing that (:o) all that happens is my mortgage would increase by 1% on the interest for the duration of the rental, but i get 6months free anyway, again if i were to do it (:o) quote: Sounds about right, 25% was in when i bought 2 and half years ago. I think Lloyds are even doing a 5% but a family member/relative has to put £20k into a savings account for minimum 5 years i think | |
John |
posted on 18th Jul 11 at 15:30 |
Loads of 10% mortgages about now Robbo. | |
Robbo |
posted on 18th Jul 11 at 15:28 |
quote:Granted but that family will undoubetdly be less trouble than 3 students who wont look after it, clean it, maintain it etc and are less likely to pay on time etc. probs more profitable but much more hassle, so you need to be rpepared for it. | |
Robbo |
posted on 18th Jul 11 at 15:26 |
quote:and then get the house re-possessed for irregularities ;) woudl expect that BTL depos are more like 40% given 25% is now about std-ish for a normal mortgage :( | |
spencer88 |
posted on 18th Jul 11 at 13:16 |
:D In reality I think it is stupid that they require that much. | |
Toby |
posted on 18th Jul 11 at 12:16 |
quote: quote: ;) | |
spencer88 |
posted on 18th Jul 11 at 06:58 |
Or you just don't tell them ;) | |
Toby |
posted on 17th Jul 11 at 11:48 |
quote: as a minimum and the Fee's are massive, i looked at it and they were about 4% | |
spencer88 |
posted on 13th Jul 11 at 06:44 |
quote: Yep! Look at it this way: 3 bed house may be worth (for example) £600 to a family. 3 students will prob pay £300 a month each for it. | |
dannymccann |
posted on 13th Jul 11 at 06:37 |
quote: +1 But once you jump through all the hoops you will be singing all the way to the bank, the house I rented out as a student was £275 per room x 3 rooms so £825 a month for a shit condition 3 bed terrace, which on the private rental market would have taken max £500 a month | |
spencer88 |
posted on 13th Jul 11 at 06:33 |
Take a deposit that is large enough to cover replacement of a basic carpet, doors and repainting. | |
Rob_Quads |
posted on 12th Jul 11 at 19:18 |
If your going into student lets make sure you budget for your house to be trashed once every few years. | |
worralla1 |
posted on 12th Jul 11 at 18:37 |
I am fortunate enough to have some money available to me at the moment ,not a massive amount but enough to want to do something with it . |