lochaber_lass
31-08-2006, 17:54 PM
Using (what seems to be) the "standard" 15% deposit rule of thumb for buy-to-let, and based on (for simple figures pusposes) a £15K deposit on a £100K property, can anyone recommend a particular mortgage product; i.e. good interest rate (interest only, 2-3 year discount, and LOW arrangement fee) from a particular lender?
Note:~ I have NO job, so I would need a lender that would accept this (my husband is the main earner, but does NOT want to be finacially involved) but I do have some savings of my own, which I would like to put to use.
I currently get 5.15% TAX FREE from the "safe" option of currently banking my money, and naturally want to better this in terms of generating an income, but I also want to benefit long-term from the increase in value of the property, and if things go well buy another property(s).
Also, I appreciate the lender will be looking at 125% rental income (which I think I can beat by a long way in the area in question), but what sort of return PERCENTAGE WISE would YOU guys consider an acceptable return for ANYONE who is investing their own money.
Note:~ I have NO job, so I would need a lender that would accept this (my husband is the main earner, but does NOT want to be finacially involved) but I do have some savings of my own, which I would like to put to use.
I currently get 5.15% TAX FREE from the "safe" option of currently banking my money, and naturally want to better this in terms of generating an income, but I also want to benefit long-term from the increase in value of the property, and if things go well buy another property(s).
Also, I appreciate the lender will be looking at 125% rental income (which I think I can beat by a long way in the area in question), but what sort of return PERCENTAGE WISE would YOU guys consider an acceptable return for ANYONE who is investing their own money.