Tradefair & Financials
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Living with my partner and have £20k in the bank doing nothing.!! Would like to get a morgage on a property around £100,00 to let out. Is this possible in my situation? i own no properties at the moment. where is the best place to get a morgage?? help!!
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Unlimited amount of information available on line.
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wheres chisel he will help
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The best loan to value I could find for BTL is 75%.
The best intrest rates at 75% is 4.6% 2 year tracker with 2.75% fees. You can get a 5 year bond paying 4.9% if you look at moneysupermarket.com. |
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cheers, thanks for your help
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I've found an 80% LTV.
5.99% fixed for 3 years and £2699!!!!!! |
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You in the trade JML??
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JML
The 80% product is for experienced landlords only. It is with th Mortgage Works. He will need a 25% deposit, so an 80k property would be best. |
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Aren't the banks taking a big risk with 80% mortgages if the doom sayers are to be believed?
I have been reading on here for the past three or four years how the price of houses is going to fall through the floor. |
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It did Muqbil fromn the highs. But lets face it, prices are not that high and are unlikley to fall too much further. 80% seems a good number to me! Things really picking up here in Bognor
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 htf are prices not that high?! the average shouldnt be much more than 4 times the average wage. |
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Mighty Moyes
It depends where you live really doesnt it?? Prices arent as high as they were , and nor are interest rates. Going forward we are going to see a prolonged period of exceptionally low interest rates. This back ground will be flanked unusually by very tough lending criteria |
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The general talk on here was prices dropping 50% and more!? Value of mine has fallen, from it's high, picked up and is just falling again now (v slowly).
Houses simply are not selling though in our area. When we were looking three for sale in the whole village, now dozens of boards all over the place. |