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About sam_r

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  1. Hi, As per the title, I'm 19, buying a BTL, but am a first time buyer. The property is valued at 170000. As there is no stamp duty for properties under £500k at the moment, I'm presuming I wouldn't pay any for that. As I'm a first time buyer, do I have to pay the 3% BTL/2nd home surcharge? I'm hoping not ! ie: I'm HOPING I'd pay 0%, a possibility I'd pay 3%, but probably not pay the full 8% - is that correct? Thanks, Sam.
  2. I'm confused. The Estate Agent, Broker and Lender all know I'm buying it as a BTL and I've applied for BTL mortgages? How do you mean I've lied?
  3. The lenders. The tenants were lovely and they'd kept the property immaculate - exactly the tenants my dad wishes for in his BTL.
  4. Hi, Although I've only just joined, I've been lurking and reading for a while, but I desperately need advice !!! I'm 19 (20 early next year), earn £26k (£30+ with overtime) and have had an offer accepted on a BTL property, with existing tenants. The property is £169950, with a monthly rent of £850 furnished. I have managed to save £45000 for a 25% deposit from savings, investments, birthday money and gifts over the years (I have been saving 80% of my wages for the last 3 years). Because of my age, BTL and being a 1st time buyer, my choice of mortgages through my broker is limited. He says he works with 40+ lenders, but the only 2 that would consider me - NatWest (rejected after application) and Metro (rejected, even though my Dad agreed to be on the mortgage with me, as the broker said that would help). They think that I'm buying to live in it, even though that will never be my intention - I want this to be the first of many BTL's / projects. I have the 'memorandum of sale' from the estate agents, which shows it has existing tenants as well !!! (they have been in for 18months and want to stay - and I want to keep them as tenants) I've been told the only way to buy is with a normal mortgage - BUT I DON'T WANT TO LIVE IN IT !!!! (sorry for shouting, but I'm so frustrated !!!!) Can anyone suggest either a lender, or a way round this please? Thanks, Sam