UK Landlord Forum / Life

Hello there
I'm new to all this but hope you can help
I'm left with up to £90k after downsizing so would like to invest in a buy to let with a view to supplementing my income and hopefully having a little to reinvest eventually in another property. Realistically how much could I hope to raise for a mortgage?
Any other advice would be very gratefully received too

just as a guide i managed to get a 150k property with a 60k depo.

You could get an 80% mortgage so up to 450k with that amount (no expenses included)

Depends on where you live... but you could buy a property outright and get a rental income of around £500 per month. There are so many options, £90,000 is a significant amount of capital to play with (in certain areas of the country). I'd probably be tempted to try and get 2 lower-end properties in the right area with mortgages of about 40% on both - thereby getting the best deal in relation to finance costs. That said, I'd also be talking repayment mortgages, which might not figure in your calculations. I would not advise buying cheaply in an area you're not local to.

What part of the country are you looking at? Agree with above,but only if you are within easy distance.Cheaper/older properties -and the types of tenants who want them- can be quite needy.If you have mortgages,more than one rental is useful in the event of rent arrears,some other income to cover the outgoings. I recently checked the home address for a tenant moved here for weekdays,keeping his home in Macclesfield.His 3 room semi is worth just around £50k more than the studio he pays 475pm for.