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Buy to let and continue renting?
Comments
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If you buy now you won't have capital appreciation, you will have loss of equity.
On top of that the second part of the housing benefit reforms comes in rents are likely to fall at a time economic hardship gets worse.
Save a bigger deposit for your dream house, this buy to let thing was so last decade and there are many people still and yet to be burnt from it.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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MarcusAurelius wrote: »?
The BTL is almost half price of the "dream one"...
Oh, oversight on my part. How much profit per month would you make on this rental, approximately ?0 -
MarcusAurelius wrote: »No, but, then, there's no bad time to become one.
There is.
This is probably the bad time for you to become one.
If you have to ask on a forum where the question gets asked nearly every day then you are incapable of doing the most basic research for yourself.0 -
Your choice of lenders will be very small. Most want to see a landlord owner-occupying their property, not renting.
There may be more, but I can only think of one lender who will do what you want. I suggest research on this and the responsibilities of being a landlord before you consider anything further.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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