Bowfin Property

Property Solutions to Sell Your House Fast For Market Value

Property investment

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.

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.

Zoopla Confidence Levels: Low Confidence To High Confidence

Zoopla confidence levels range from low confidence, which means they don’t have enough data on the property to be confidence about the estimated price vs their high confidence level, which means they do have enough data on the property to be confidence about the estimated price.

Found Damp In House After Purchase: Can You Sue The Seller?

The only reason you’ll find damp in a house after purchasing it is if you didn’t have a full survey done to uncover any damp problems. A basic survey or a valuation report will not necessarily uncover any damp problems, so caveat emptor or buyer beware and do your checks before you buy.

How Do You Find Damp When Viewing A House

How you find damp when viewing a house includes using your sense of smell to pick up any musty damp smells in the property, looking for the appearance dark patches or for mould or mildew on the internal walls, floors or ceilings, or the lifting of wallpaper and condensation on windows.

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