A
arkiboys
New Member
Hello,
Hope all is well...
If possible, can I please get your thoughts on below:
We have paid off the mortgage for the house.
We would like to invest into a BTL property £500K
We have available £400, 000 at a rate of 0.5% over BBR (Available as a reserve account through our Bank to us only for the next 12 years...) - At present monthly interest payment is around £200
Getting an interest only BTL mortgage for £100, 000 at 1.84% fixed for two years. Monthly payment £200
Rental income for the BTL property is minimum £1,100
Question:
Do you think we have a good deal to purchase the property to let out, even at this time of crisis?
Whichever way I think about it, it seems to be a good deal to get the £400K at such low rate for the next 12 years and use it towards the deposit of the property
Your thoughts please?
Thank you kindly
Hope all is well...
If possible, can I please get your thoughts on below:
We have paid off the mortgage for the house.
We would like to invest into a BTL property £500K
We have available £400, 000 at a rate of 0.5% over BBR (Available as a reserve account through our Bank to us only for the next 12 years...) - At present monthly interest payment is around £200
Getting an interest only BTL mortgage for £100, 000 at 1.84% fixed for two years. Monthly payment £200
Rental income for the BTL property is minimum £1,100
Question:
Do you think we have a good deal to purchase the property to let out, even at this time of crisis?
Whichever way I think about it, it seems to be a good deal to get the £400K at such low rate for the next 12 years and use it towards the deposit of the property
Your thoughts please?
Thank you kindly