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Are we missing something obvious on this mortgage arrangement?

K_and_N · 2022-01-25 10:02:01

Hello, We are looking to move and our mortgage broker is arranging finance for us. She is someone we respect and she has successfully got our previous mortgages. However on the current arrangement, we are failing to see the logic of it after several lengthy discussions with her. Also we are worried that the purchase…

Comments

getmore4less Posts: 46,882 Forumite

25 January 2022 at 4:44PM

£2350pm on a £700k property that's 4% gross yield which is very low.

You are going to loose the best part of 2% of that covering borrowing on £700k(on the let and residential if you buy a new place.

How much is left after the other costs and tax

That has to cover the extra SDLT for second home

How many years before you see a penny in your pocket?

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