Planning ahead is something we all do without thinking, from saving for holidays to who’s doing the washing up. Financial planning on the other hand can sometimes seem overwhelming or something to put off until tomorrow. BUT how would you pay the bills if you were sick or accidentally injured and couldn’t work? Research from Legal & General’s Deadline to Breadline has shown that on average UK employees could be…
Buy to Let Mortgage Calculator
When you consider a Buy to Let mortgage, a lender will typically ask for the mortgage to be self funding at a given rate plus a margin of 125% through to 150%, some lenders work at the Pay Rate (interest rate of the mortgage) and this varies from lender to lender and often in the products too, other lenders work on a minimum of 5% or 5.25% or higher in some occasions.
Working through this calculator is easy if you know how, but sometimes can be a little daunting if you are unaware of how percentages work etc. Use this handy calculator to see if the purchase you are considering stacks up on the proposed rent v’s mortgage payment.