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Raising money against house
Spudtm
Posts: 52 Forumite
I own a property outright. I want to raise money against it and let it out. Is a buy-to-let mortgage the best way or is there an alternative? TIA
0
Comments
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Yes.
I presume you've done all the sums to make sure letting it makes sense?0 -
Renting doesnt stack up anymore in many areas due to changes to the tax regime. There are always exceptions.
Make sure you do your sums properly including income tax, CGT, repairs (don't expect tenants to treat it like owners), voids, insurance, mortgage, running costs/agency costs.
Are you prepared to do all the work involved e.g. repairs, accounts, contracts, viewings, re-decorating etc.0
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