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Buy to let mortgages
Comments
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A lot of people don't want to live that close to their landlord, so you might have to drop the rent significantly to avoid voids.0
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Perhaps that is true and I can totally understand why people wouldn't want to live so close however if I didn't rent the place out for a while I doubt we could afford two sets of bills and my dream of expanding the house I love and staying where I want to be is gone:(0
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I think for that reason alone then you need to make enquiries about getting a mortgage! The vendor gifted is a good way to get the deposit. Good luck0
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PasturesNew wrote: »A lot of people don't want to live that close to their landlord, so you might have to drop the rent significantly to avoid voids.
Might be 'too close for comfort' handy though if you've got problems
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Being a landlord isn't that big a deal, join the associations if you get worthwhile discounts (for instance you need to put the deposit in a scheme - one such scheme gives a discount to members of the NLA). There is tons of advice online in forums such as these - the biggest problem is knowing what to ask.
One of the hurdles is what you do about finding tenants and dealing with agents. Read the small print of agreements with them. We found one that expected us to pay a further fee when the same tenants stayed on for another year. This has hit the headlines recently but a couple of years back we had to go to court to defend ourselves against such a claim and won because the contract was so vague.
Theoretically you do have to have a buy to let mortgage. These have been very hard to get recently. Lots have been withdrawn and it seems that some are just listed without ever actually being granted.Macintosh, iPhone, iPad and Web development0
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