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any buy to let experts??

superskintmouse · 2012-10-06 23:32:36

Im looking for advice regarding where to start with buy to lets. i cannot find anywhere online that explains borrowing % etc. we currently own our home valued approx £180000 with an o/s mortgage or approx £60000. we are looking to buy another house to live in but have no idea how much we would have for the new house. any…

Comments

Annisele Posts: 4,835 Forumite

21 October 2012 at 9:22AM

I know this isn't what you asked, but do you actually have a pension / retirement savings?

It just concerns me a little when people say they want a BTL to act as their pension. I think that relying on just one asset to produce your retirement income is taking an enormous diversification risk - in other words, all your eggs are in one basket.

In addition, often one property doesn't generate enough income to allow them to live.

There's plenty of debate as to whether basic rate taxpayers are better off with pensions/ISAs/some other tax wrapper, but you do need *some* plan for retirement income.

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