First Time Buyer Advice - Letting out the property

[LowCom2020]

Hi everyone,

I'm seeking advice & guidance on my journey to getting onto the market with the aim of letting + building a portfolio.
Currently, I have a substantial pot saved up, I am ready I believe to make the first purchase.
My original plan was I wanted to get a buy to let, but I'm also a first-time buyer which from research allows me to rent my property on a residential mortgage as long as I plan to live there when I decide to leave the forces.
I think my main question is, what should I be looking to do now? Should I be using H2B? Then using my bigger chunk of savings to look at another property? What should I look at doing if I want to get another property? I.e Go LTD etc?
All help and guidance are much appreciated.

Anyone had the experience of purchasing a property on a Residential and then letting it out?

Any idea if you can take out an interest-only mortgage on your first residential property?

 

[vvaannmmaann]

Hi everyone,

I'm seeking advice & guidance on my journey to getting onto the market with the aim of letting + building a portfolio.
Currently, I have a substantial pot saved up, I am ready I believe to make the first purchase.
My original plan was I wanted to get a buy to let, but I'm also a first-time buyer which from research allows me to rent my property on a residential mortgage as long as I plan to live there when I decide to leave the forces.
I think my main question is, what should I be looking to do now? Should I be using H2B? Then using my bigger chunk of savings to look at another property? What should I look at doing if I want to get another property? I.e Go LTD etc?
All help and guidance are much appreciated.

Anyone had the experience of purchasing a property on a Residential and then letting it out?

Any idea if you can take out an interest-only mortgage on your first residential property?

No idea if this will help or if it is up to date (the comments are from 2015)

Can I Use A Residential Mortgage For a Buy-To-Let Property?

Many people rent out their property while having a residential mortgage, when they should have a BTL mortgage. But what are the risks?

www.propertyinvestmentproject.co.uk

For what's it's worth the housing market is moving at glacial speed at the moment. (Mainly due to the stamp Duty relaxation) so maybe do some more homework before taking the plunge. And whilst there are probably some posters here that have done what you are referring to, some proper professional advice would be worth looking out for.
Also remember that the job situation at the moment means a great deal of people cannot afford rental payments (a huge potential problem for landlords) and you could get a real shitty stick if that happens.
Some other help;

Landlords forum

Welcome to the Residential Landlord forum. It is FREE to become a member and post your comments, queries and replies.

residentiallandlord.ipbhost.com

Landlord Forum The BLA Member Questions

Landlord Forum The BLA member questions on various topics. Landlord Forum answers forum is for all landlords. Questions on the forum range from rent arrears, eviction, eviction notices council tax

thebla.co.uk

The Landlord Association

www.landlordexpert.co.uk

Good luck.

 

[Wee Hawken]

Not really an answer to your question but these guys can give you a very good explanation of your mortgage options - of which there will be many.

L&C | The UK's Largest Fee-Free Mortgage Broker and Advisor

We're the UK's No. 1 online mortgage broker offering expert advice and a fee-free, hassle-free mortgage process. Start your journey online or by phone today.

www.landc.co.uk