We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
Buy house and buy to let
Options
guy999
Posts: 325 Forumite
Hi
My partner and I are planning to live together we both have houses.
We have put both for sale and have now found a house that we would like to buy, put an offer in which has been accepted.
Her house has sold straight away for asking price, to a buy to let investor, who wants property straight away.
Mine not even an offer.
We earn 40K and 35k, house we want is 250K.
She will clear 20k after expenses.
Have approx 10k saved which will pay for redemptions, move expenses etc
But what do I do with mine? Need to sell it or raise capital from it with buy to let.
Worth 110K? Mortgage of 65K.
Have calculated that could raise approx 20K with BTL, based on £500 pm rental
We are now starting to panic as don’t want to lose our dream home
Can anyone offer any pointers about 2-3 year fixed mortgage, 210K
And buy to let tying me into about 2-3years, when we then plan to try to resell
Thanks in advance
My partner and I are planning to live together we both have houses.
We have put both for sale and have now found a house that we would like to buy, put an offer in which has been accepted.
Her house has sold straight away for asking price, to a buy to let investor, who wants property straight away.
Mine not even an offer.
We earn 40K and 35k, house we want is 250K.
She will clear 20k after expenses.
Have approx 10k saved which will pay for redemptions, move expenses etc
But what do I do with mine? Need to sell it or raise capital from it with buy to let.
Worth 110K? Mortgage of 65K.
Have calculated that could raise approx 20K with BTL, based on £500 pm rental
We are now starting to panic as don’t want to lose our dream home
Can anyone offer any pointers about 2-3 year fixed mortgage, 210K
And buy to let tying me into about 2-3years, when we then plan to try to resell
Thanks in advance
A shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
0
Comments
-
Anybody?
Contacted London and Country
Very friendly and helpful
Got in principle C&G 2yr fixed 210K 4.39%
Bank of Ireland BTL 85K 2 yr fixed 5.45% easy switch
Any adviceA shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.0 -
No expert Guy but C&G residential appears to be about the right sort of figure. There are best buys and checkers on Mortgage pages with moneysupermarket, moneynet etc but the BoI rate seems a bit high. There were certainly some cheaper BTL's around a few weeks ago when I last checked, one was with Standard Life for I think 4.59. May be the charges are higher and that makes the BoI one better overall.
Sorry I can't be more helpful.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards