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Buy to Let Mortgages
Matthew_Shaw
Posts: 2 Newbie
Hello,
I'd like to know what the best 'buy to let' mortgage is on the market at the moment. I'd prefer just a normal mortgage (no fixed rate). I'd consider a discounted mortgage though.
My current Mortgage is with Virgin One (Royal Bank of Scotland) and they can provide a 'buy to let' mortgage at 5.9% APR, however I have to dismiss this as an option because they combine your 'buy to let' mortage with your own home mortgage. Whilst this is great, for tax reasons not a good option. I'd end up paying more tax: the 'buy to let' percentage of the single mortgage (covering both properties) would be lower that I would want it to be. I'd end up making too much profit on the income of my rented property, and more profit means more tax!
Thank you. Matthew
I'd like to know what the best 'buy to let' mortgage is on the market at the moment. I'd prefer just a normal mortgage (no fixed rate). I'd consider a discounted mortgage though.
My current Mortgage is with Virgin One (Royal Bank of Scotland) and they can provide a 'buy to let' mortgage at 5.9% APR, however I have to dismiss this as an option because they combine your 'buy to let' mortage with your own home mortgage. Whilst this is great, for tax reasons not a good option. I'd end up paying more tax: the 'buy to let' percentage of the single mortgage (covering both properties) would be lower that I would want it to be. I'd end up making too much profit on the income of my rented property, and more profit means more tax!
Thank you. Matthew
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Comments
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What kind of figures are you looking at? Property value? mortgage needed? etcI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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You aren't jumping in now are you? Hope you have a lot of equity to put down and quite a lot of surplus income at the end of the month.
Timing is a bit like investing on the stockmarket just before it crashes.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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