The Magic Module

Enter your exact monthly UK mortgage payment

Enter the exact rate that you are paying up to 2 decimal places. If you dont enter an accurate figure the calculations wont be exact (your building society/bank will be able to tell you on the phone if you cant find the exact figure

If you remortgaged on an interest only basis this is the amount you could borrow for the same money

Again get the exact figure of your outstanding motgage balance from the building society or bank if you dont have it to hand

This is the amont of capital that you would have in your bank if you remortgaged on an interest only basis which can be used as a deposit on your 2nd home Remember you are still paying the same for your uk mortgage so this is "free" money

This is the price you will pay the seller for your new property

These are the extra costs like mortgage set up , solicitors costs , notary costs and purchase tax (same as uk stamp duty). There is a table to show you typical costs but if you want to save on these costs we can show you huge savings (in the Canary Islands we can normally get this down to 3% intead of the 10% quoted

When you have bought and started renting out it is unlikely that you will get bookings for the first few months so in order to be safe we have added a cash buffer that you keep in a separate acct to cover the first few months rental. Better to be safe than sorry.

This is the total amount you will need to raise to buy your home including purchase costs and mortgage buffer

This is the "free" cash generated in the UK by remortgageing on interest only

This is the amount you will need to borrow in the country where your new home will be

Check on the internet for the rate in your country (if not sure contact us )

This is the amount that needs to be covered each month by the rentals

This is the annual mortgage figure

This is the rent you can charge for your property (in our calculations we set aside 20% of the rental each week to cover cleaners, laundry, pool cleaning, and all utility bills ) we only calculate the weeks required using 80% or the rent you input

This is how many weeks rental you need to find each year so your home costs you nothing