Mortgage decisions

curlydood21

Hey newbie here, 

31 year old just coming to the end of a 5 year term on mortgage. Home bought for £152k currently owe £122k and has been valued at £240k/£245k.

This has been our first home but wanting to use equity to start BTL.

Currently looking at options and seeing peoples opinions short and long should we remortgage at 90% and start BTL using LTD or financially would it be viable to transfer our home to LTD mortgage at 75% and buy a new property as our main home. 

Potentially down sizing to make our outgoings less and maximise BTL income. 

If doing the second option would we be liable for CGT and how much would this be and does anyone know how long it would take to transfer to LTD? 

If anyone was in my position what would youse do?

Albermarle

If anyone was in my position what would youse do?

I think you will find that most of the answers you will get will be along the lines of do not get involved in BTL.
Being a landlord is not much fun, and lots of rules and regulations to follow. Possibility of dodgy tenants, and calls at midnight because the heating has broken down etc.
Better if you have a few properties as it spreads the risk, and better if you have good DIY skills. Plus better if you study all the rules and deal with the tenants yourself, to save on agents fees.

Otherwise a lot easier to invest in the financial markets via a S&S ISA, or via your pensions.

gwynlas

The successive government are making things harder for small landlords  and there might also bemore legislation regarding tenants rights.

If you wish to invest in property the best return is on HMOs.