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£400 A Month To Invest - Should I Get A Btl?

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This is my first post on here, so go easy on me! Wife and I have £400 every month left over after all bills, fuel, food, leisure spending etc. We are seriously considering a buy to let, using the money to top up the interest on the BTL mortgage and also save each month to cover times when the property isn't let. We have seen a few houses at around 100k, we can put down 10k from savings and get a BTL mortgage on 90k for approx £450 per month.

The property would let for £425, so from our spare £400 would be used to pay letting agent fees (approx £50), top up the mortgage (£25) and insure the house (approx £15 month). The rest will be saved to cover times when the house isnt let. We'd then rely on house price increases over the next 5 - 10 years to make this worthwhile. To us this sounds like a feasible and 'relatively' low risk plan - but we have no experience of BTLs and would really welcome any input. Our alternative plan is to spend the 10k on our existing home, primarily to add value, and look at other options for the £400 / month.

Thanks in advance for any advice



and some replies;

Bacon lettuce and tomatoe has had its day mate


I appreciate the impending rise in interest rates but there does seem to be a lot of people round here still snapping up houses and apartments at around 1 00 - 130k and then letting them.

So you don't think it's people like that artificially buoying up the market?

Just because lots of people are doing it doesn't mean that it's a good thing to do. It's herd mentality, pure and simple. All over the country there are thousands and thousands of apartments not even what worth what people paid for them.

I buy and sell property for a living. I would not BTL. I take my risks calculated; you can't rely on luck to carry you upwards. My first flat is worth three times what I paid for it 8 years ago. How much higher can it go?


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