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  • I’m not after profit

    It's strong yield* and capital appreciation** you want - two things that are hard to achieve if you are BTLing in London now.

    Do you have an accountant? Who is doing your tax return?

    * i.e. the profit from your cash outlay expressed in % - example you paid £100,000 for a property, cash £25,000, mortgage £75,000. You get £500 a month rent, and the mortgage costs £100 per month. There are no other costs. That leaves you with £4,800 a year which is a cracking yield before tax of around %20 (£4,800 is roughly %20 of £25,000).
    ** rising house prices

  • Right, think I get it...

    So if I were to have a £100 a month mortgage, get £200 a month rent I'd have about £60 profit assuming I'd be in the highest tax band?

    (£200 - £100) -40% = £60

    I'm prob missing lots of finer details, but that sounds manageable, with the profit going into over payment.

    Is that anywhere near right?

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