I’m restarting my lapsed Blog with a piece of good news that’s come “out of the blue”. Sign up HERE.
A lender has reviewed a fixed rate loan set at 5.49% several years down to 3% above base showing a saving of £195 pcm! Not much perhaps, but well worth appreciating over a glass of bubbly tonight.
The loan was on a problem property up until two years ago until I gave it a light refurb – new kitchen and a paint job inside and out, then learned how to let it to multiple Housing Benefits claimants. The cash flow is now £830 pcm after mortgage interest, all bills inc. insurance, safety checks and £20 per room per month toward the maintenance sinking fund. Not bad for a house worth 150k.
Want more information about the financials for a property like this? Download an extract of my Presentation at recent Property Investor Meetings in either PowerPoint or Handout pdf format and please post your feedback: