The interest rate is rock bottom near enough, house prices going up and down doesn't come into it in a BTL unless you want to rent it out for a short peroid and sell it, which is pointless! Go for it, everyone's renting because they don't have a deposit for their own pad.

quote:

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Originally posted by Russ
buy mine :)

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buy mine :)

If you buy now if it does drop further it wont be that great compared to the current % value of the house. All you have to look forwards to is the rising market which this time will not be like the last.

quote:

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Originally posted by a_j_mair
great time to buy houses IMO

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remeber if the house is empty you have to be in the position to afford both mortgages

worth while investment if you can get hte money

great time to buy houses IMO

TBH on a house valued at 130k it wont drop that much like a 200K has the potential to....

I suggest you go for it.

Thats my 50p's worth!

you need to talk to someone to see if you can release funds from your property, see if you can afford your Repayments still.

the the BTL, you'll need a 125% return.
ie: your BTL monthly payment £200, you'd have to get at least £250pcm rent.

deposits have gne up big time, HSBC now want at least 40% :(


best see what a mortgage adviser can come up with.


With a repo/auction, you normally need to have all your funds in place and all ready to go.

Plan is to buy a reposed house for us to move to.

Ours is valued for 600pcm for rent

You need a large deposit for BTL, you should be able to use equity on your home but you would need to remortgage it aswell.

House prices dropping more - anyones guess!!

You need to speak to someone in mortgages, financial advisor.

Would i get a mortgage for a buy to let?

Current house valued at 130k
48k left on mortgage

Looking to get a house for around 100k - 120k On a buy to let?

Can i use the equity of my current house?

Also does anyone think house prices will drop any more?

Cheers