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!st time buy to letter

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

Comments

  • Mr_helpful
    Mr_helpful Posts: 3,233 Forumite
    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 hill
    I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)
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