Firstly Ive seen a similar question already tonight but didnt want to hijack the thread, so apologies if im making people repeat themselves.
I dont have a mortgage, and co own my home.
Id like to buy somewhere to rent out.
Im only looking for somewhere cheap max of around £60,000, which where I live is enough for a decent sized 3 bed.
From looking around a mortgage of the size i need would be around £3-350 p.m with a 10 % deposit
I can easily afford £350 p/m as I have no other substantial outgoings i.e as I have no mortgage or rent payments.
So even if the property was empty the mortgage would be no problem
Do I need a BTL mortgage ? or could i just get a regular mortgage with consent to let?
I dont have a mortgage, and co own my home.
Id like to buy somewhere to rent out.
Im only looking for somewhere cheap max of around £60,000, which where I live is enough for a decent sized 3 bed.
From looking around a mortgage of the size i need would be around £3-350 p.m with a 10 % deposit
I can easily afford £350 p/m as I have no other substantial outgoings i.e as I have no mortgage or rent payments.
So even if the property was empty the mortgage would be no problem
Do I need a BTL mortgage ? or could i just get a regular mortgage with consent to let?