We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
New mortgage for a flat to buy for renting it
Radsteral
Posts: 836 Forumite
hello
Can anyone please shed some light as the mortgage adviser I used when I bought my house 4 years ago, its nowhere to be seen, very good fella though
Looking to buy a ex council flat nearby to my house for 210.00
the house I own, was bought on my name 4 years ago with 30 years repayment 233.00 but I have overpaid and currently stands at 130.00 owed to the bank and current mortgage is 3 years fixed with 790.00 a month to pay
my wages 44.000 a year and they been that much for the last 5 years .. my wife part time at 8500.00 a year
I have got 55.000 deposit to put on this flat
I m told there is a cheaper way for the first few years to go for a mortgage but in a short time as offer is accepted and need to move fast..have put conditions to the seller for a fast sale and to take it of the market, so need to behave the same way myself
do I just go for buy to let or, should my wife be better of to be the one buying it? savings are in both names
thank you
Can anyone please shed some light as the mortgage adviser I used when I bought my house 4 years ago, its nowhere to be seen, very good fella though
Looking to buy a ex council flat nearby to my house for 210.00
the house I own, was bought on my name 4 years ago with 30 years repayment 233.00 but I have overpaid and currently stands at 130.00 owed to the bank and current mortgage is 3 years fixed with 790.00 a month to pay
my wages 44.000 a year and they been that much for the last 5 years .. my wife part time at 8500.00 a year
I have got 55.000 deposit to put on this flat
I m told there is a cheaper way for the first few years to go for a mortgage but in a short time as offer is accepted and need to move fast..have put conditions to the seller for a fast sale and to take it of the market, so need to behave the same way myself
do I just go for buy to let or, should my wife be better of to be the one buying it? savings are in both names
thank you
0
Comments
-
Unless you want to live in the flat then get a BTL mortgage0
-
BTL mortgage is more expensive, but if you mislead the lender then it's a criminal offence.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards