Many people dream of owning a Buy To Let property and think they cant afford it or the risks are high & tend to leave this ambition in the back of their minds. This is something we have helped clients with over the years. Showing how you can let your current property out and purchase a new one with the rental income generated making payments on the new property affordable and often less than if they were to sell.
Case Study One: Mr & Mrs “G”, Purchased a new build property and 4 weeks before completion the buyer of there property pulled out leaving them unable to complete on the new dream property. Mr & Mrs G called us and arranged a meeting, we switched the current property to a Let to Buy mortgage and released enough equity for them to purchase the new property & the purchase went through. Mr & Mrs G would have been paying a mortgage until they were 67 if they had sold the original property and moved forward as they planned. Since this happened they have purchased another two properties with the equity they have built up over the years and also paid off the residential mortgage at the age of 54, some 13 years earlier than planned originally. They also have an income from 3 buy to lets bring them in a pre tax profit of £1500 which is going to be used for a retirement income.
Case Study Two: Mr “B”, Owned 3 buy to let properties all with very small mortgages and didn’t realise he could release the equity to purchase more properties. We looked at the portfolio and released equity from all 3 properties which enabled him to buy another 3 investment properties turning his portfolio from 3 to 6 in a short space of time. Not only did this generate extra income he also now has a more tax efficient way in renting out the new properties.
Please remember that property prices can go down as ell as up and your money could be at risk.
To speak to one of our team regarding property investments please call 01908 608868
Great professional service. Pre qualified every buyer that came to look at our property. Would highly recomend the agent to friends and family. A+