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Mr & Ms M Client had recently decided to buy a property together. Whilst they each currently owned their own homes, they were reluctant to sell and wanted to become landlords. They just didn’t know whether their finances allowed them to keep their existing properties and to buy their first home together.

Prior to the initial meeting, we asked the clients to identify the realistic level of rent as well as market values for their existing properties. Taking into account these factors as well as their existing debt and current income, we were able to demonstrate to the clients the value of property that they could realistically afford to buy. We helped the clients understand how the overall finances worked on a rental property and how this would be affected were they to use a property agent for managing the property. Finally, we enabled the clients to understand how the mortgage on their new home would be affected by being rental property owners.

We enabled the clients to purchase a property that they could afford, rent out their two existing homes but also structure their finances to ensure that they had sufficient cash savings to cover any void period in rent.