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ooobedoo
Posts: 1,019 Forumite
We are trying to find a house within our price range, with a view to renting it out due to Hubs very mobile job, Want to buy a house in the a specific school catchment so by the time my son starts school we are in that catchment, and we will live there permanent basis.
We would be buying to let, be getting agents to manage the house.
You will have to bear with me(I'm the logical one and hubs is the read through paper work kind of guy), do we have to get a different mortgage, how much do we have to pay the agents per month??? idiots guide to minimal renting please
We would be buying to let, be getting agents to manage the house.
You will have to bear with me(I'm the logical one and hubs is the read through paper work kind of guy), do we have to get a different mortgage, how much do we have to pay the agents per month??? idiots guide to minimal renting please
Oh....I'm not going to lie to you......At the end of the day, when alls said and done......do you know what I mean.........TIDY
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Comments
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You will need to get a buy to let mortgage initially. For this you will need at least 10% deposit as thats what lenders require, and you will have to prove the rent will cover about 120% of the mortgage repayments. So if the mortgage is £800 a months as an example, then the rent payments will have to be at least £960 a month. So you'd have to make sure you bought a place that could get the right amount of income.
I think then its just a case of approaching letting agents, i think they usally take anything up to and beyong around 10% a month, probably depending on the area.
The rent payment will go to them and then the remainder will go on to you.0
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