Buy-to-let mortgage without permanent job?

ACG

http://www.rla.org.uk/landlord/guides/housing_act/docs/all/what_is_an_hmo.shtml

5 or more but can vary from council to council.

poppy10_2

A property is an HMO if it is let as a main or only home to at least three tenants, who form more than one household and who share a kitchen, bathroom or toilet.
Only larger HMOs (5+ tenants or are 3+ storeys) need a mandatory license, but there are other regulations that apply to all HMOs regardless of size.

Hartson_2

Very useful, thanks very much!

Thrugelmir

GMS wrote: »

Long term bricks and mortar will be a good investment. If somebody is looking for a short term gain then they need to be wary.

Depends if the property is to be a home or a business in my view. As one has attractions , as for the other there's better returns elsewhere.

jgh

If you ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever think you will ever be unemployed, DON'T!. You will be assessed as "having assets" and instructed to sell up and spend it.

chrisscott666

im a self employed engineer with no guarentee of income or future contracts and i have 8 BTL, i did need to show 2 years accounts for the first one but the rest havent asked

bigadaj

jgh wrote: »

If you ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever ever think you will ever be unemployed, DON'T!. You will be assessed as "having assets" and instructed to sell up and spend it.

Shock, horror, if you own a house that you don't live in, and have equity in that property it is an asset. Right we've got that clarified, let's move on.

Voyager2002

Don't do it!

Being a landlord involves a certain amount of work, and mistakes can be very expensive. As a trainee solicitor you simply won't have the time and energy required. Focus your efforts on doing your job as well as possible: the rewards from a successful BTL would not come near to making up for being a failed solicitor.

Voyager2002

Sterling_Mortgages wrote: »

Sorry Voyager2002, but I dont agree with your statement.

I am qualified pharmacist, working 40 hours per week. I have a successful property portfolio and also run a successful mortgage brokerage.

As long as you make sensible decisions and play by the rules, you can have a very successful BTL business....

David

With respect, I do not think that the workload of a qualified, established pharmacist (or other professional) compares with that faced by someone who is seeking to establish themselves in a profession, particularly a profession as competitive as law. Sure, once he has been a solicitor for perhaps five years this plan would make sense, but not at the moment.