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Buy to let mortgage advice?

I currently own a house and I'm thinking of getting another property on a buy to let mortgage. Is there a reasonable profit to be made in the property market?

Asked on Feb 8 2012, Renting in London | Report content

Answers (5)

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  • Only if you can cover both morgage and costs for both of your houses for 6 mos without rent and it isnt straightforward tenants can be a pain in the backside

    Answered on Feb 9 2012, Report content
  • BTL mortgages usually require a significant deposit

    Answered on Feb 9 2012, Report content
  • It is risky as the property you let could stand empty, you must be able to afford your repayments should the worst happen. Of course if all goes well, you eventually own two properties which will appreciate in value over time.

    Answered on Feb 9 2012, Report content
  • ...but don't forget there will probably be Capital Gains Tax issues on any later sale at an increased price

    Answered on Feb 9 2012, Report content
  • Hi there, the London property market offers a host of profitable options from flipping a property to letting it for yield. Feel free to email me directly and I will be more than happy to talk you through the whole process. We also have a financial advisor who specialises in buy to let mortgages, I can arrange a free chat with him to talk you through it all. Kind regards- Chris @ Barnard Marcus Clapham

    Answered on Nov 12 2012, Report content

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