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buy to let

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  • buy to let

    hello how you all today?
    it would be a great help if someone would help me, right,

    basically im looking to buy a house (value 100k) to rent out
    im looking to rent the property out to 3 people at £70 per wk per room.

    i own my house outright (approx value 85k)
    ive got 15k deposit
    is there anyway that i can use this property as calateral?
    would i be able to to get a morgage basiced on this?

    im self imployed with a 13k income.

  • #2
    Re: buy to let

    It certainly sounds feasible on paper, but you'll need to speak with a mortgage advisor.


    • #3
      Re: buy to let

      Definatly speak to an advisor I feel they will be of help and there advice is free. Have you done any research into where you would like to buy if you are given the go ahead, your potential monthly income will depend on this, I'm assuming your looking to rent to students by the way your say £70 per week per room, are you aware of the insurance fee's and possible health and safety issues. PM me if your unsure.

      Lee Wilson