We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Getting a buy-to-let mortgage
blackice_2
Posts: 24 Forumite
I wish to purchase a buy to let property as an investment, I am looking to buy 4 flats in one property for £175K, would need £150K Interest Only Mortgage.
I have £100K in my own house equity and earn around £30K per annum.
The income from the property would be about £16K a year.
Would I get a mortgage ?
I did try one and they said I would have to be earning £50K to get one that size? I always thought it was done on the property.
I have £100K in my own house equity and earn around £30K per annum.
The income from the property would be about £16K a year.
Would I get a mortgage ?
I did try one and they said I would have to be earning £50K to get one that size? I always thought it was done on the property.
Nice to save.
0
Comments
-
I've moved this into the Mortgage board, you should get some response in here!
Bridiej
0 -
On the basis of what you have put on the board, you should be able to get a mortgage sorted out. Some lenders are a bit funny about more than one mortgage in the same block, but I think there will still be options open to you.
As long as the property type and rental income are OK with the lender there will be options.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards