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Having a vacant property is abit nerve racking especially if it your first property.
We have three IP’s and the first one did not let straight away because we choose the wrong agent. Have learnt now to use a minimum of two agents at the same time to market it. Insist on two month notice clauses so that you have a reasonable time to find replacement tenants and after one month if the place has not gone use your own advertising in local papers too. As I do not live near my IP’s I haveto rely on the agent to show the prospective tenants around and to manage them but if I have found them, I only pay discounted agency fees.Hang in there, your experience will grow
Thanks for the links, this taxation one will be very useful. If I have read it right there is no capital gains tax in Greece and transfer tax may be the equivalent of stamp duty?
I have found a website for a company that arranges mortgages and will as them.
Thanks again
Thanks for this information. I think your parents are very brave buying land and building from scratch. The disadvantage I have is that I do not speak the language.
To begin with I think I should keep this project simple and buy what I can actually see.
Are your parents taking out a Euro mortgage from a company based in Greece?Hi, I’m from London and havelived in Melbourne for a year now and have thre investment properties thereon a buy to let basis.
I have used Mortgage Express for our loans. A friend of mine has 25 properties and has used Paragon who will look at you and your history as a landlord.
What ever you do beware of tie-in penalties. I am trying to get out of one of mine and Mortgsge Express have built in an arbitary 6 month interest payback clause if this property is sold within three years.
If you need some more help, don’t hesitate to ask.
LainyNever heard of the concepts of swaps before in the UK. Does the company you are borrowing the mortgage from need to know that you are going to swap it on?
what do the terms LMI and LVR stand for please?
When assessing the suitability of a property to lend money against that is going to be let out, do the finance companies need to see evidence of the future rents too or are they basing it on whether you as an individual are good for the risk?
