A Guide to UK Buy to Let Mortgages

Written by Commercial Lifeline


Essentially there is little difference betweenrepparttar process that one follows for a buy to let mortgage inrepparttar 139112 UK than there is for any other type of mortgage. The lender still has to consider your credit worthiness,repparttar 139113 value ofrepparttar 139114 property, how much down payment you can afford and all ofrepparttar 139115 other usual considerations. However, in addition,repparttar 139116 lender will usually be interested in whatrepparttar 139117 market is for letting properties inrepparttar 139118 same area asrepparttar 139119 one that you are thinking of investing in. The lender will look at property taxes and average rents for similar properties. Other than those particulars, however,repparttar 139120 process moves along nearlyrepparttar 139121 same.

A buy to let mortgage can be arranged for either commercial or residential property. Terms can range from between five to forty-five years. There are fixed and variable interest schemes available, andrepparttar 139122 lender takes an interest in your property just like with any other mortgage so your property is still at risk if you fall into arrears. One difference is that a lender will consider your potential cash flow from rental income as part of your available money to repayrepparttar 139123 loan under some circumstances.

Because not all lenders view buy to let mortgages as a risk that they are willing to take, your best route is to choose a mortgage broker who specializes in buy to let schemes. This way you haverepparttar 139124 best opportunity of getting you application reviewed byrepparttar 139125 largest number of lenders who are likely to make a decision in your favor. Since you do not have to pay a fee to engagerepparttar 139126 broker there is no reason not to take advantage of their services.

Before you buy

You should work with either a commercial or residential real state broker, depending uponrepparttar 139127 type of property you are looking to invest in, who understandsrepparttar 139128 buy to let market inrepparttar 139129 area that you are considering. Choose an agent who is bonded and who has a large portfolio of potential properties for you to review.

Have your broker help you choose areas that are compatible withrepparttar 139130 type of property that you want to buy. Choose property that matchesrepparttar 139131 needs ofrepparttar 139132 area. For example, you might find it hard to fully let an office building in an area that is used primarily for light manufacturing. Likewise, a warehouse might not go over well if it is surrounded by an office park complex. If you are thinking about purchasing residential property with your buy to let mortgage then make sure that you look in neighborhoods where there are already properties for let. It may be very hard to let a home in a neighborhood populated exclusively by high-income home owners.

Planning your cash needs

You should also determinerepparttar 139133 maximum that you are willing to spend to buy property. Besides consideringrepparttar 139134 purchase price you will need to determine your available down payment and other expenses such asrepparttar 139135 services of a solicitor, stamp duty, survey/valuation fees, broker fees etc. You should also consider after-purchase expenses including remodeling to makerepparttar 139136 building fit for its intended usage, utility deposits and agent's fees if you plan to use a letting agent to attract and vet tenants.

Other expenses are sure to include insurance, routine property maintenance plus ground rents (if applicable) and property taxes. Usually your tenant is responsible for utilities after they move in as well as any Council Tax, TV licence fees, andrepparttar 139137 like.

Statistics on the UK National Lottery

Written by Dwight Overman


The UK lotto is one ofrepparttar biggest and most popular lotteries inrepparttar 139111 entire world. Unlike many lotteries in other countries,repparttar 139112 UK Lotto prize is paid out as a lump sum, not drip-fed torepparttar 139113 winner across 25 years or so. This makes it extremely attractive to players all overrepparttar 139114 world. As you can even buy tickets online, there has never been a better time to 'risk a quid'. But what exactly arerepparttar 139115 statistics behindrepparttar 139116 UK Lottery?

First off, it's a pick 6 from 49 lottery, sorepparttar 139117 odds of a 6 number jackpot are fairly standard at 1 in 13,983,816 for an individual ticket. The most popular numbers regularly picked are 23, 25, 38, 43, 44, 57. The least picked numbers are 13, 20, 21, 37, 39, 41. If you are into number pairs, you may be interested to know thatrepparttar 139118 lotto's most common number pair are 38 and 46. Those of you who like to pick lottery numbers in threes (as do many people here at www.winthatlotto.com ) will be fascinated to find thatrepparttar 139119 most common group f three lottery numbers picked is 10, 34 and 48.

Ever wondered whererepparttar 139120 ticket money forrepparttar 139121 UK National Lotto ends up? According torepparttar 139122 lottery accounts, 45% ofrepparttar 139123 ticket take goes to prizes of all sizes, 5% goes to a 'Top Up' bin, and 28% goes torepparttar 139124 fabled 'Good Causes' (some of which have been discovered to be criminal scam fronts, unfortunately). ofrepparttar 139125 remainder, 13% is given torepparttar 139126 UK government as Lottery Duty, 5% is paid torepparttar 139127 retailers who sell tickets as commission, Camelot is allowed to keep 3% to cover costs, and a further 1% as pure profit.

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