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Buy to let question.........

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  • freddiecider
    freddiecider Posts: 65 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I must add .....I am the one who thinks we would owe £100k!!!

    My partner is the one confusing me!!!!!
  • Chippie
    Chippie Posts: 96 Forumite
    Werdnal wrote: »
    As OP is plannng 2 BTLs, they will no doubt be receiving enough rent to be liable for tax.

    But not too much if you have a good tax accountant. Especially if they too are a property investor and know the ropes! :j
  • laurel7172
    laurel7172 Posts: 2,071 Forumite
    freddiecider wrote: »
    Oh okay. Partner seems to think that the repayments would simply be for the 50k mortgage. He thinks that the other 50k that we would take as collateral does not effectively have a mortgage on it. I'm confused?????

    But it isn't collateral, is it?

    You need to give the seller £100k cash to buy the property.

    £50k mortgage....and where does your OH think the other £50k will come from, exactly? An interest free loan from the nice bank because you're good for it?
    import this
  • freddiecider
    freddiecider Posts: 65 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Yes I know.....I quite agree. Glad you've all cleared it up for me.

    I wasn't completely sure and he kept making me doubt myself but now you've all reassured me....


    As usual I am right!!
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