Month: October 2020

Can You Live In A Property With A Buy To Let Mortgage?

You cannot live in a property with a buy to let mortgage on it, and if you do you will be in breach of the mortgage terms and conditions and committing a fraud. Most buy to let mortgages aren’t regulated and are assessed on the basis of rental cover rather than affordability.

Can A First Time Buyer Get A Buy To Let Mortgage? (What Are The Restrictions)

As a first time buyer it’s possible to get a buy to let mortgage, but your options will be very limited. Most lenders consider the risk that first time buyers will want to live in the property for themselves. Those that will lend to first time buyers will limit the buy to let lending to a multiple of earnings.

Should You View Property Again Before Exchange Of Contracts? (Final Viewing Tips)

If you feel you need to you should view a property again before contracts are exchange because this is your last chance before you are legally committed to buy. Not everyone does a pre-exchange visit, but it’s a good idea for checking that all is still okay with the property before you fully commit.

How Much Does Subsidence Devalue A Property?

The amount by which subsidence devalues your property is at least by how much it will cost to fix the subsidence problem, plus an additional 10-20% off the asking price on top. You are far better to fix the problem yourself and check your insurance policy to see if this covers for subsidence.

What Is An Acceptable Offer In The Region Of? (Do You Offer Over Of Under?)

What is acceptable as an offer in the region of depends on what the property is worth to you, how much the seller is willing to accept and how long the property has been on the market. Always bear in mind that the list price of any house is not its valuation, but is a guide price only.

Can You Rent Out Your House Without A Buy To Let Mortgage And Not Tell The Lender?

You can rent out your house without a buy to let mortgage but you need to tell your lender and get a consent to let the property. Whilst it’s not illegal if you don’t get consent to let you will be in breach of your mortgage terms and the lender could withdraw the loan so you have to repay in full.

Scroll to top
Don`t copy text!