How do we go about buying a property to let?
Lisa and Martin were existing clients who thought it would be a good idea to invest in a second property to rent out and have as a nest egg for the future but they didn't know how to get started. We sat down with them and discussed the pros and cons of having a buy-to-let and worked out all the figures. They had already seen a property, so we calculated how much deposit they would need and generated this by remortgaging thier current property with extra borrowing. We then arranged a felxible buy-to-let mortgage for the remainder of the purchase price and both mortgages completed on the same day. The rent covered the new mortgage payments and all Lisa and Martin had to fund was the cost of the extra borrowing for the deposit.
