Jump to content
House Price Crash Forum
Sign in to follow this  
SarahBell

Who is buying houses to rent?

Recommended Posts

Based on the information entered this Buy to Let property appears to be self-financing.
The maximum we could lend on a self-financing basis is £82,500

  • This amount is subject to a satisfactory valuation.
  • View our Buy to Let eligibility criteria for information on minimum income, secured credit commitments, maximum number of Buy to Let properties and our valuation policy.
  • We may require supporting evidence to help us assess the plausibility of the monthly running costs.
  • You can save a copy of these results for your records and to help you submit the application on Introducer Internet.

Summary

Date

18 March 2017

Property value

£110,000

Mortgage required

£60,000

Repayment method

Repayment

Term

25 years

Gross monthly rent

£550

Please input the following figures on Introducer Internet


AIP > Loan Required > Loan Details

Loan details
Mortgage required £60,000
Purchase price/valuation £110,000
Annual rental income 
in respect to this property
£6,600

FMA > Loan required > BTL details

BTL property self-financing assessment
Gross monthly rent £550
Monthly mortgage payment £369
Monthly agent's fees (if applicable) £0
Monthly allowance for rental voids £0
Monthly property maintenance (see help text) £10
Other monthly costs (see help text) £0
Other monthly commitments to be paid from rent £0
Surplus /(deficit) £171

Any additional information

For all applications we will assess the plausibility of these costs. Please provide as much information as possible here to explain the amounts entered as this will help us underwrite your case quicker.

Share this post


Link to post
Share on other sites

In my experience most landlords pay little or nothing for maintenance unless not spending it will reduce the value of their property. They won't fix things just because it makes the property more habitable for the tenants. 

Share this post


Link to post
Share on other sites
On 18/03/2017 at 4:59 PM, spyguy said:

A high rate tax payer will pay 3k/,year tax.

Rephrase.

Itll be costing a hiher rate tax payer about 3k a year. Tax, insurance, maintenance.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   91 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.