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  #1  
Old 02-17-2008, 02:31 PM
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Default How do I buy to let when the rent won't cover the mortgage payments?

It is looking increasingly like none of us will get a pension in years to come, so I have been toying with the idea of buying to let for some time. However, even the cheaper houses, reposessions and buying at auction cost so much now that any feasible rents wouldn't cover the mortgage payments. So, is it really wise to buy to let now, or have we missed the boat?
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  #2  
Old 01-02-2010, 08:52 PM
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Quote:
Originally Posted by Denise P View Post
It is looking increasingly like none of us will get a pension in years to come, so I have been toying with the idea of buying to let for some time. However, even the cheaper houses, reposessions and buying at auction cost so much now that any feasible rents wouldn't cover the mortgage payments. So, is it really wise to buy to let now, or have we missed the boat?
Well it depends on the property that you are buying. Don't forget that a lot of things effect the rent of a property. Also the property will be yours for ever, you will be it's owner just by using BTL.
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  #3  
Old 01-18-2010, 06:26 AM
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I wouldn't advise you to buy now
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  #4  
Old 02-04-2010, 03:10 PM
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Location: Hertfordshire, England
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If you are serious about buying property and letting it out there are new rules by the regulators (Government) that will affect you so study these rules to make sure that you don’t get yourself in to any trouble, if you manage the properties yourself make sure you register with the governing bodies, there are lots of thing to know but once you do it is really quite good fun, Buy-to-let Mortgages have a different criteria to say residential Mortgages, they are classified more as commercial, so you will pay a higher percentage rate for a start, the Big hurdle is of course the deposit the majority of lenders are looking at around 25% (75% loan to Value) and don’t for get all the other cost involved, stamp duty solicitors fees valuations and so on, Bit if you are serious about building a good pension pot then speak to an Independent Financial Advisor (IFA) don’t waste your time talking directly to a bank as they will only offer “What” they have and not “What” you want, the IFA will advise you on how to incorporate your property into your pension, the various possible tax breaks and Trusts that will protect you from the inherencies rules and the taxman.
With regard to post No 3 with good planning, Mortgage and IFA broker advice, now is a very good time to buy
Good luck
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Old 02-27-2011, 07:58 PM
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Quote:
Originally Posted by Denise P View Post
It is looking increasingly like none of us will get a pension in years to come, so I have been toying with the idea of buying to let for some time. However, even the cheaper houses, reposessions and buying at auction cost so much now that any feasible rents wouldn't cover the mortgage payments. So, is it really wise to buy to let now, or have we missed the boat?


If you want to payoff your debt contact your debtor and settle your debt asap.
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