UK Landlord Forum / Life

Hi Guys,

I'm seriously thinking of purchasing a buy-to-let property but would like some advice on likely costs.

I own my property outright and so do not have any mortgage to worry about.  I'm looking to mortgage my place for about £130k so to buy a 1 bed flat to rent out.  I don't have any deposit but have 100% equity as above.

So, my questions to you guys are....

1. am i in a strong position mortage wise?
2. what kind of % repayments are likely?
3. rough start up costs?
4. anything else to expect?  I completely lack in experience in any of this however I personally know a letting agent, mortgage broker and have access to a book of electricians, plumbers and plasterers for 'mates rates' if need be...

Buy the property that is in your budget, I will advice you to concern with a property dealer who has good knowledge and has good options of property for you

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Buy the property that is in your budget, I will advice you to concern with a property dealer who has good knowledge and has good options of property for you