You could get a buy to let mortgage on a two year deal

Putting down a 25 per cent deposit. Get a "doer upper" if you fancy a little bit of decorating and design, in two years you will get a better mortgage deal from a variety of lenders, the property should be worth more as well. When you remortgage, take the increased equity out and use it to fund another property. With your capital you should get three properties, look for property priced at about ?125 - ?145k, that way the rent will easily cover the repayments and give you a couple of hundred quid income a month. Ideally look for a minimum of 6 per cent on your outlay.

Posted By: Pink un exile, Dec 10, 20:42:05