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Inheritaed property. What to do next?
dmo73av
Posts: 41 Forumite
Hi all,
I have just inherited a £180k property, 100% equity (obviously).
I also have a property myself of value £130k, £15k equity.
One way of looking at things is to sell the £180k property and buya number of properties by putting down a certain % deposit on a buy to let mortgage.
Usual deposit is 25% so if I bought 4 properties of c.£160k, which would be a deposit of £40k for each.
Crudely speaking does it work that way?
Thanks
Dmo
I have just inherited a £180k property, 100% equity (obviously).
I also have a property myself of value £130k, £15k equity.
One way of looking at things is to sell the £180k property and buya number of properties by putting down a certain % deposit on a buy to let mortgage.
Usual deposit is 25% so if I bought 4 properties of c.£160k, which would be a deposit of £40k for each.
Crudely speaking does it work that way?
Thanks
Dmo
0
Comments
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it does (except a BTL deposit is usually 15%) - but finding BTL property where you can make a decent profit is now very difficult. may i suggest you read https://www.singingpig.co.uk - its the best property forum around. good luck0
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