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25k mortgage for a 30k property
Comments
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If a property which is such a great investment and offering a great rental yield then ask yourself why a professional investor hasn't snapped it up for cash.
Have you checked the terms of the lease?
The market is slow here right now - theres a good amount of good investment properties about that are readily let able. Simply put -This one isn't a one off. Cash is king and it's short.
I will look to check the property out and carry out my due diligence. I'm definitely not naive but also not prepared not to rule out a good investment simply because 'no one else has snapped it up'.0 -
Speak to a broker, most buy to let loans are arranged through them.
As previously mentioned you will not get a £25k loan on a £30k purchase, you are going to need a deposit of circa 25-30%.
As previously mentioned a lot of lenders have a minimum loan size and/or a minimum property value.
A broker will guide you through all of this.0
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