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Is there a Buy To Let Mortgage where I can just use rental income as guarantee?

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Comments

  • David_White
    David_White Posts: 892 Forumite
    Fourth Anniversary 500 Posts Combo Breaker
    If you do speak to a broker I'd suggest leading with the Monaco part :)
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ACG wrote: »
    There is a bit of a loophole in the changes where if you become a landlord througha limited company with 10 or 15 properties you can still claim back mortgage interest....

    You still can as a basic rate taxpayer.

    Once you've the properties in a Limited Company. You've still got to get the profit and/or capital gain generated out. As was the case recently tax law changes rapidly. Best not to chase loopholes. As the consequences could be expensive.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    pizza_lord wrote: »
    I have 720k in cash and I want to buy a few 1 bed flats and rent them out.

    Why leverage with this amount of capital available? How much is a unit going to cost?
  • pizza_lord
    pizza_lord Posts: 48 Forumite
    Thrugelmir wrote: »
    Why leverage with this amount of capital available? How much is a unit going to cost?

    Makes sense to build a small portfolio.

    I could just buy one or two flats with cash I guess but why not leverage?

    If interest rates go up too much and it becomes uncomfortable I could also sell some properties and reduce the amount of exposure.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    pizza_lord wrote: »
    I could just buy one or two flats with cash I guess but why not leverage?

    Never build a castle on sand foundations that can easily be washed away.
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