We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Buy to Let - advice required
bimba
Posts: 36 Forumite
I am thinking of buying a property which I would stay in when downsizing in approx 10 years time. The property is £110,000. I intend to rent it out in the meantime. I can pay cash for the property but would I be better taking out a buy to let mortgage? I stay in Scotland. Has the buy to let market gone flat or is it still a good option? Does anyone know the best deals for Buy to Let mortgages?
0
Comments
-
If you take a BTL mortgage you can claim the mortgage interest as an allowable expense and reduce the tax you pay on the rental income. If you pay cash then you pay more tax on the rental income. Assess the net effect, not forgetting to allow for the interest you will get on your savings if you take a mortgage.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
-
Thank you very much for advice. Much appreciated!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards