fastfrank

Hi,
Does/has anyone bought a house to rent it off? Do you have to get a buy-to-let mortgage or can you get a normal one and tell the bank different?

Any advise would be appreciated.

Cheers

Scooby96

Try First Step mortgages - ask for Glenn Fuller and say Chris Knowles recommended you.

Tel no 01892 511331

Best rate I've seen is 4.69%

salsa-king

yes and yes.

some banks like fisrt direct... if you put 25% or more down you can get a morgage with them.. to use as you wish.
I have a Rented proert that i Borrowed from first direct... interest rate was not to bad.. i put down 27% though.

OR

If your current property has a morgage already and you have enough in it to finance another property.. Borrow off that.. but make sure you have enough equity there!

I've done that also




Phil

fastfrank

yes, I'm looking to buy a property but don't want to get penalised by a buy-to-pet mortgage rate. If I work around it I will.

Scooby96

Buy to let rates arent much different to standard mortgage rates - the best discounted buy to let I saw was 2.79%!

You will need at least 15% deposit

Corgi

Just remember Frank, it's not like you see on the tv........tenants phoning you up at 2am because they have lost their keys, neighbours moaning at you because your tenants are noisy, playing music etc, they never look after the place like you would because they ain't paid for the carpet, curtains, cooker etc.

People think the type of tenant they will aim at will be tidy and clean "young professionals"........i've had all types, probation officers, doctors, solicitors and some are fine but others are untidy dirty b@stards but anyway

Birm Midshires are good for mortgages.