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!st time buy to letter
jaxwat
Posts: 14 Forumite
Hi all,
I have finally managed to purchase my own house (nov 06) and am now looking to set up a 'retirement' fund in the form of some buy to let properties.
Can anyone point me in the direction of some good reading, and / or good interest rates for both the BTL mort and somewhere where I can get an affordable rate for a 10k deposit.
I have done some research in the areas I'm looking to buy on rents and house prices, and think a good level to start at would be a 50 - 60k house where I should be able to get £400 rent per month.
I enquired about remortgaging my house to raise the 10k deposit but the redemption fees were way out of the question.
Liquid loans have quoted (only on theire website ) £70 a month over 25 yrs, is this good?
Any advice appreciated! :j
I have finally managed to purchase my own house (nov 06) and am now looking to set up a 'retirement' fund in the form of some buy to let properties.
Can anyone point me in the direction of some good reading, and / or good interest rates for both the BTL mort and somewhere where I can get an affordable rate for a 10k deposit.
I have done some research in the areas I'm looking to buy on rents and house prices, and think a good level to start at would be a 50 - 60k house where I should be able to get £400 rent per month.
I enquired about remortgaging my house to raise the 10k deposit but the redemption fees were way out of the question.
Liquid loans have quoted (only on theire website ) £70 a month over 25 yrs, is this good?
Any advice appreciated! :j
0
Comments
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You will have to ba carefull on the mortgage front as some lenders will still class you as a first time buyer until you have held your mortgage for 1 year.
Some BTL mortgahges are now up to 90% LTV
For rates contact an independent broker preferably with no broker fees
For reading material you could try think like a tycoon by william hillI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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