Buy to let mortgage

Doozergirl

reehsetin wrote: »

wouldnt really be keen on a tenant, me and OH are very much looking forward to getting 'our house' plus point is we arent looking to move in straight away

Why are you thinking about this? Is it because you think prices are going to rise? I can't find the logic otherwise. House prices are stagnating/falling, so you'd be better off buying when you are ready, with a bigger deposit and a far better mortgage interest rate than you will get from BTL and none of it's associated financial risks.

reehsetin

thanks, can't say im not disapointed but good to get views not emotionally involved at least we know the facts now, ill discuss everything with OH again

PasturesNew

reehsetin wrote: »

thanks, can't say im not disapointed but good to get views not emotionally involved at least we know the facts now, ill discuss everything with OH again

Don't forget though. We are an internet forum. While we give our best opinions, you don't know us from Adam.

Don't put our opinions above what your OH says. Don't get into a row over it!

Love > Internet opinions

But we hope we've shown other viewpoints, whether you agree with them or not, whether valid or not, whether right/wrong.

Good luck.

reehsetin

Doozergirl wrote: »

Why are you thinking about this? Is it because you think prices are going to rise? I can't find the logic otherwise. House prices are stagnating/falling, so you'd be better off buying when you are ready, with a bigger deposit and a far better mortgage interest rate than you will get from BTL and none of it's associated financial risks.

we dont know when we'll need a house, would like it there, if we are looking now we wont put in any offers for at least a little while plus it takes time to find the right place, we've got time on our side to find something
say another 6 months before we get keys, we may need it then, if not then OH can move in without me till i can or hypothetically we were looking to rent it for say 6 months or 1y then until we can use it.
just trying to figure out all our options for the moment,

reehsetin

PasturesNew wrote: »

Don't forget though. We are an internet forum. While we give our best opinions, you don't know us from Adam.

Don't put our opinions above what your OH says. Don't get into a row over it!

Love > Internet opinions

But we hope we've shown other viewpoints, whether you agree with them or not, whether valid or not, whether right/wrong.

Good luck.

we've managed to get most answers from family, solicitors accountants etc just werent sure on this point, we wont row just what we're both looking forward to so maybe we're rushing maybe its a good idea we dont know untill we've looked at all the options,

theGrinch

speak to a fee free broker and it would be a sensible way ahead.

brit1234

If I was you I wouldn't go into buy to let at the moment. The market is going through a down turn with many saying the buy to let sector is the most vulnerable sector.

I suggest you have a breathing period of say 3 months to see how the market is going and read everything you can in that time on buy to let. that way you will be in a more informed position and less likely to get burnt.