will my rent pay the mortgage

3 posts / 0 new
Dernière contribution
21 Février 2005
#1
richenst
will my rent pay the mortgage

This is more of and added question rather than any advice as this is pretty new to me. But my qestion is:

If you were to get an 80% mortgage on a leaseback property, would you expect the rental income to pay for the mortgage. Or would you expect to also fund the mortgate out of you own pocket as well for the initial couple of years?

Regards

Tony

 

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5 Juin 2005
glennborthwick (non vérifié)

for ongoing costs these are realistic


400 euros a year accountancy charges


12 euros per square metre per year tax fonciere after year 3


150 euros per year co propritors fees


Haut
11 Septembre 2005
steve

You need also to understand that many lenders will expect personal income to meet the strict affordability rules when buying with a mortgage. They are unlikely to take in to account the full future income from rent. www.newmortgagefinder.co.uk will be happy to provide a decision in principle before getting too involved and being disappointed later. Rates from 2.75%, which will help anyone to meet these requirements.


Steve

steve38606.0639467593
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