Anyone been looking at BTL mortgages recently? Looks like a good set of offers, including a pretty good Offset from First Direct, 3.19%+base, £499 fee.
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BTL Mortgages 2013
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BTL Mortgages 2013
What happens in General, stays in General.You know what they say about assumptions! -
3.19 for a BTL mortgage is pretty amazing... what LTV?Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishing -
Originally posted by d000hg View Post3.19 for a BTL mortgage is pretty amazing... what LTV?
Still good opening rate for someone though.What happens in General, stays in General.You know what they say about assumptions!Comment
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Originally posted by MarillionFan View PostMeh. Fooking stupid MoneySuperMarket.Com. Phoned up and it doesn't exist. Looked back and MSM and it through up a normal residential rate as part of the BTL search.
Still good opening rate for someone though.
If you don't you could put your mortgage on that and use the cash on the BTL. You can claim tax relief on the interest as I did that in the past.merely at clientco for the entertainmentComment
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Originally posted by eek View PostDo you have a mortgage on your current property?
If you don't you could put your mortgage on that and use the cash on the BTL. You can claim tax relief on the interest as I did that in the past.
Already doing that for one property. The interest on my mortgage is 0.98%. I've got one done in Trowbridge with a building plot. I've got the money to build the new house as well, but was doing some calculations on what to do with the equity that would be tied up in them (ie. remortgage, buy some more BTLS). The numbers stacked up brilliantly with the original offset mortgage(but it's not a BTL), with the best BTL mortgage on the market the numbers aren't stacking up. Need a 7%+ return for it to make sense. 10% would be the best.
Oh well, back to the drawing board.What happens in General, stays in General.You know what they say about assumptions!Comment
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Originally posted by MarillionFan View PostAlready doing that for one property. The interest on my mortgage is 0.98%. I've got one done in Trowbridge with a building plot. I've got the money to build the new house as well, but was doing some calculations on what to do with the equity that would be tied up in them (ie. remortgage, buy some more BTLS). The numbers stacked up brilliantly with the original offset mortgage(but it's not a BTL), with the best BTL mortgage on the market the numbers aren't stacking up. Need a 7%+ return for it to make sense. 10% would be the best.
Oh well, back to the drawing board.Comment
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Originally posted by Martin@AS Financial View PostThere are some good BTL products about presently available.Hard Brexit now!
#prayfornodealComment
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Of course it's a product just as a derivative or a bond is a product. If you find the idea of a loan product hard to understand, I wouldn't be surprised though.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by d000hg View PostOf course it's a product just as a derivative or a bond is a product. If you find the idea of a loan product hard to understand, I wouldn't be surprised though.
What has been produced when a bank lends you money?Hard Brexit now!
#prayfornodealComment
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Scary to think someone who can't understand a loan is supposedly involved in complicated statistical analysis.
"There's only a 1 in 10 million chance this burger could be more than 1% horse. Or is that 1 in 10, all those zeroes are pretty confusing..."Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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