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Help!!!!!!!!!!
Comments
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Your expected rental income will need to cover 125% of the mortgage.
What happens if you have a void period for several months? Could you afford to pay both mortgages?poppy100 -
huddersfield_terrier wrote: »hello - sorry I should have been more clear.....
Yes is it an option to rent out my house and get another mortgage??
HT
You can but not with your current mortgage - you would need a buy to let and that would mean a depositof around 25%0 -
Also, if as you say there are a lot of rental properties in your area, how successful would you be in letting with so much competition?
You may have to drop the rent to a lower amount than your mortgage repayments & as other posters have said, what about voids?
Would you be prepared to have to go in & redecorate & perhaps recarpet/refurnish after some of the tenants left? Lot's of stories on here about seemingly respectable tenants trashing property.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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