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1st time buyer
outlaw777
Posts: 881 Forumite
Hi there, I'm thinking of buying a house or flat as a 1st time buyer and then renting it out privately to tenants via gumtree, if I do this can I collect monthly rental cash in hand or how do I set up a direct debit for this? Also do I have to pay tax on this, if so how is this done?
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Comments
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I often consider this myself. Then i get kicked by the girlfriend and one of my single brain cells kicks in.0
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Please advise?0
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No. Don't do it.0
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Could someone other than Mark please help me?0
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You are extremely unlikely to get a buy to let mortgage as a first time buyer.
Buying without a buy to let mortgage to let out would be fraud.
You sound like you haven't the first clue about letting out a property.0 -
Who will you live with when you buy this place to rent out? Will you be paying someone rent money?0
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I will be living with parents whilst I rent this out for around a year?0
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He hasn't said he needs a mortgage. Maybe he has an inheritance or something, and can buy outright.
I haven't bogged off yet, and I ain't no babe
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