Buy To Let Mortgage Calculators
Discussion
minimax said:
why would you need one?
just take the rate on the BTL and put it in to the resicalc one on interest only
just take the rate on the BTL and put it in to the resicalc one on interest only
I have no idea what that means (interesting that, considering I was just thinking about a swap of career to being a mortgage advisor
) I am aware that for buy to let they will only consider you if the mortgage payment is less than the projected rental income, seem to remember 75% as a typical figure being bounded about?
I also seem to remember (this is all pistonheads gleamed knowledge incidentally, havent got further than browsing a few pages on the ifsa-learning website with regards to being a mortgage advisor) there are some non-buy to let mortgages that are ok with you renting the property. This would probably be my preference tbh, although undoubtably paying back some or all of the equity will be more expensive, I'd rather have the added piece of mind should prices take a slight recession. I'm not overly bothered about making a monthly income off the property, more looking at it as a savings account someone else is paying in £xxx a month to and as an added bonus there will be some growth on the value.
minimax said:
you should bear in mind (don't obviously know how much you know about this) that different lenders have differing criterior regarding percentage above payrate required before they'll accept the deal 
mail me if you want a bit of help
mail me if you want a bit of help
Ah you have decided to work again! Well done!
smirnoff said:
minimax said:
you should bear in mind (don't obviously know how much you know about this) that different lenders have differing criterior regarding percentage above payrate required before they'll accept the deal
mail me if you want a bit of help
mail me if you want a bit of help
Ah you have decided to work again! Well done!
well, there's only so much hanging out in a fast car that you can do before you've exhausted all the roads round about
besides, I was getting bored 
emicen said:
minimax said:
why would you need one?
just take the rate on the BTL and put it in to the resicalc one on interest only
just take the rate on the BTL and put it in to the resicalc one on interest only
I have no idea what that means (interesting that, considering I was just thinking about a swap of career to being a mortgage advisor
) I am aware that for buy to let they will only consider you if the mortgage payment is less than the projected rental income, seem to remember 75% as a typical figure being bounded about?
I also seem to remember (this is all pistonheads gleamed knowledge incidentally, havent got further than browsing a few pages on the ifsa-learning website with regards to being a mortgage advisor) there are some non-buy to let mortgages that are ok with you renting the property. This would probably be my preference tbh, although undoubtably paying back some or all of the equity will be more expensive, I'd rather have the added piece of mind should prices take a slight recession. I'm not overly bothered about making a monthly income off the property, more looking at it as a savings account someone else is paying in £xxx a month to and as an added bonus there will be some growth on the value.
YHM
emicen said:
Thanks, minimax was most helpful. The property I was looking at is now under offer so I'll have to bide my time and wait for another to emerge.
Is it an unwritten rule of being an IFA you have to have an Elise? (that'd be quite cool actually)
Is it an unwritten rule of being an IFA you have to have an Elise? (that'd be quite cool actually)
no problem, any time ...and I think that it's an unwritten rule of being an IFA that you have to be cool enough to own an elise
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