Bowfin Property

Property Solutions to Sell Your House Fast For Market Value

How Much Can You Borrow Based On Your Rental Income?

Mortgage lenders require the rental income to be 125% of monthly mortgage payments for basic rate tax payers and 145% for higher rate tax payers for interest only buy to let mortgages. But the interest rate used to calculate the mortgage payments is the stressed interest rate not the actual rate.

How Is The Mortgage Stress Test Calculated? (Stress Test Calculator Included)

A mortgage stress test is calculated using the stressed mortgage rate to stress mortgage payments against monthly rent should interest rates rise. The stress test calculation takes account of interest rate cover ratio (ICR) which is 125% for basic rate tax payers or 145% for higher rate tax payers.

Things To Do Before Selling House

What should I do to my house before selling: In order of priority the things to do when selling your house include focusing on curb appeal and first impressions of the front of your house, followed by doing up and fixing things that need attention, updating the inside and outside with fresh paint, then a complete declutter and thorough clean.

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