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Buy-to-let landlords desert the property market
Comments
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No they wont as they have no money to lend, so their rates will be a lot higher. They are giving existing customers really crappy deals at present.0
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subjecttocontract wrote: »But I might mortgage it later.....Northern Rock might have some good deals !;)
Paying cash is great but get that mortgage before you start letting the property. Otherwise, you will not be able to reduce your tax liability by using the mortage interest.
So, pay cash to secure the best possible deal but make sure you maximise your borrowing before letting. Plenty of nice places to invest tax-free and you can get hold of your cash when the next bargain comes along.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
UK007BullDog wrote: »No they wont as they have no money to lend, so their rates will be a lot higher. They are giving existing customers really crappy deals at present.
Looks like they'll have their existing customers by the balls. They can charge what IR's they like, knowing that in the current conditions, many won't be able to move their mortgages. Not a nice situation to be in!0
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