Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I currently have 2 buy to let flats in Reading. Each brings in £9800 per annum. I have a total of £125000 mortgage lending on these and they have a value of £410000. I work earning £21,900 and have a pension of £18800. My wife earns £10300.
I am considering buying another flat in Newbury for £190,000. It has tenants paying £925 a month. I am thinking of increasing my current mortgages to £165,000 and using savings with a new mortgage of £130,000 to do this.
I am aware the rules are changing although do not fully understand them all.
I am looking for peoples’ thoughts on this, any advice would be welcome as to problems/costs etc
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