Good Evening I’m hoping to get some advice if possible.
I currently own 1 property which is owned out right and currently valued at £90k giving me a £450pm return .
I'm now contemplating looking into another property circa of 100k . I’ve been advised the best option would be to remortgage my other rental using a interest only mortgage and then then use funds for the deposit on another property again with a interest only mortgage .
I was told I should also set up a Limited Company and out the houses through this . How does this sound and along with possibly getting an accountant is there anything else I should consider or look at with regards to a second property.
Any advice would be most helpful.
G
I currently own 1 property which is owned out right and currently valued at £90k giving me a £450pm return .
I'm now contemplating looking into another property circa of 100k . I’ve been advised the best option would be to remortgage my other rental using a interest only mortgage and then then use funds for the deposit on another property again with a interest only mortgage .
I was told I should also set up a Limited Company and out the houses through this . How does this sound and along with possibly getting an accountant is there anything else I should consider or look at with regards to a second property.
Any advice would be most helpful.
G
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