June 1, 2008
Posted in Uncategorized
at 2:46 am
Despite problems with many lenders, there are still some amazing buy to let mortgage deals in all form or shapes. That’s because banks still need your business for them to stay in business!
For example, some brokers I know have found a mortgage product that will lend up to 80% of the property’s value with no rental assessment whatsoever with very competitive rates, starting at below 5%. Loans are available for up to 2 million pounds of borrowing and a small amount of adverse credit will also be considered.
But in today’s market, many lenders will require 6 months of property ownership before you remortgage to them. They are still some possibility around it.
If you want to get in touch and find a solution tailored to your needs fill the form below.
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Posted in UK Property Interest
at 12:17 pm
Wednesday 07/05/2008
4.99% mortgage deal fixed untill 2011 would you like that?
My broker informed me that you still can found amazing fixed rate during this credit crunch. How about 4.99 per cent fixed until 2011? Obviously conditions apply such as arrangment fee…
This type of products fit well with HMOs.
Example: you buy an HMO for £91,000 GBP, the monthly figures look like:
Monthly Rent 6×55.00 GBP x 4.33 weeks = £1,429
Monthly Mortgage Costs = 0.85×91,000 GBP x 0.0499/12 = £322
Monthly Council tax, utilities, insurance and repairs = £250
MONTHLY NET PROFIT = 1,429 – 322 – 250 = £857 !
You get £10,284 annual income per year for the year to come and even more with rent increase. Just imagine if you had 5, 10 or 50 of these HMOs? That would equate to 500,000 GBP per year if you bought 50 of these.
To get a mortgage with a rate of 4.99 per cent contact us now!
If you want a portfolio of HMOs then contact us to!
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