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Hi I'm new to the property hub and I am looking to start my first investment next year in Norwich. I just wanted to know if the majority of investors use interest only mortgages for buy to let property's? And also if I could get an example of how you would eventually pay off an interest only mortgage in a buy to let. Many thanks look forward to hearing from you! Scott
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Hi, I'm Mike! I'm renting rooms, parking, music studios and developing commercial property, laying plans for BTLs in 2016. What you've done in property so far: Developed 2 Music studio spaces in Zone 1 London (Commercial Lease) Rent out 2 rooms in London Fields Rent out parking in London Fields What areas you invest in (or want to invest in): Elephant & Castle, Hackney, Acton What your plans are for the future: My 7 year interest only mortgage on my 2 bed flat on London Fields ends April 2016. Being Self employed, I am looking investigate all options, projected to owe £170k at this time and may be forced to sell. (Current Valuation £500k by Foxtons). At this time i'd like to move out of London, buying a home PLUS 1 or 2 BTL properties. I am starting now commercial viewings to develop (1500 sq ft) artists studios, which I plan to get a 25 year lease. Any skills or knowledge you've got that other members might benefit from: Setting up sound/music facilities . Good listener ;-)
