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<blockquote data-quote="UNG" data-source="post: 537667" data-attributes="member: 8931"><p>While looking at the initial costs you have to take into account that the property will generally appreciate in value which would offset some if not all of the costs involved</p><p></p><p>A few years ago my brother bought a couple of houses with deposits of around 30 - 50% the mortgage interest rate he got on the balance was around 2½% the ROI has been in the order of 5 - 7% so using the banks money has given him a decent interest rate from the bank by using their money to buy the property than they would have given him in savings</p><p></p><p>There was still property to be had at the right price as a BTL upto 2 - 3 years ago the big thing is when refurbing or refreshing a property to let is setting the level and expenditure to get it to a minimal habitable level, it is totally pointless going for high end refurbs if the return is not there</p></blockquote><p></p>
[QUOTE="UNG, post: 537667, member: 8931"] While looking at the initial costs you have to take into account that the property will generally appreciate in value which would offset some if not all of the costs involved A few years ago my brother bought a couple of houses with deposits of around 30 - 50% the mortgage interest rate he got on the balance was around 2½% the ROI has been in the order of 5 - 7% so using the banks money has given him a decent interest rate from the bank by using their money to buy the property than they would have given him in savings There was still property to be had at the right price as a BTL upto 2 - 3 years ago the big thing is when refurbing or refreshing a property to let is setting the level and expenditure to get it to a minimal habitable level, it is totally pointless going for high end refurbs if the return is not there [/QUOTE]
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