| Being a landlord may be a very sound | | | | after also. But be warned that many selling |
| investment especially with rising property | | | | good Buy To Let mortgages will give you |
| values - yet property investment can be risky | | | | dangerously poor advice on the wisdom of your |
| and lenders will give you a loan for a bad | | | | property purchase - for that you really need |
| scheme. The wise Buy To Let investor, before | | | | independent advice !Letting property that you |
| buying property or getting mortgages on any | | | | already own.If you are thinking of renting |
| Buy To Let idea, gets expert financial advice | | | | out property that you already own, or if you |
| - often using a good property investment | | | | are now letting property, then it may be wise |
| calculator and often low cost.The two main | | | | to get an expert report on how good a |
| property investment choices.There are two | | | | financial property investment it is. You are |
| main choices in property investment, buy a | | | | investing the value of your property, and you |
| house to let when the maximum UK mortgage | | | | should be sure that it is making reasonable |
| will be at most 85% of valuation, or let your | | | | profit. Your current property value |
| own house and buy yourself a new house when | | | | estimates, and current mortgage loan amounts |
| you may get 100%. But certainly, before you | | | | will allow an expert appraisal including rent |
| buy a property to let or decide to rent your | | | | level advice and taxation advice.Do be the |
| own house and buy a replacement for yourself | | | | wise investor.If you are wise then do not |
| in England, you should get an expert estimate | | | | consider buying property to rent out, until |
| of your likely profit or likely loss, and | | | | you get an expert estimate of your likely |
| also get an estimate of how big a rent and | | | | profit, or likely loss, and expert advice |
| mortgage loan you should be able to get ! | | | | !Major UK lenders like the big banks have |
| Even if your Buy to Let idea is at an early | | | | said that they think all investors thinking |
| stage, with no actual property in mind yet, | | | | of buying property to rent, should get an |
| you should be able to get good advice on your | | | | expert financial appraisal before seeking a |
| approximate estimated ballpark figures.Buy To | | | | Buy to Let investment mortgage - as does the |
| Let Mortgages.Before you make an offer or bid | | | | Council of Mortgage Lenders guide "Buying to |
| for a property, you may want to apply for a | | | | Let". Many lenders will not calculate your |
| mortgage - lenders will often not need to | | | | Buy to Let mortgage on your income, property |
| know what property you want to buy but may | | | | price or value, but on your expected rent as |
| want to know what rent you hope to get. For | | | | do good mortgage calculators. Some lenders |
| your Buy To Let property purchase a 10% | | | | may use your income, or part rent and part |
| cheque will normally do for a deposit, but | | | | income, but lenders can give you a Buy to Let |
| you will get at most an 85% mortgage so you | | | | mortgage on a project likely to make a loss |
| will usually need another 5% at completion. | | | | and which you cannot afford, and letting |
| However, you may find some sellers prepared | | | | agencies can land you with a rent level that |
| to cover that 5%. If you want speed, you can | | | | is too high or too low, so you do really need |
| get a surveyor to go with you when you view a | | | | expert investment advice first - and with |
| property - but if you need a mortgage then | | | | luck that need cost little ! |
| the lender may want their own survey done | | | | |