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Financial Consultant working with Property Tribes Financial Services.
Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - firstname.lastname@example.org 07500 871209
I would be more worried about Crazy Corbyn and his merry band of nutters getting in power than Brexit.
This scares me big time - if he gets in - time to move overseas and take my money with me.
I fully understand you concern
He would be a nightmare for anyone with Property
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
For sure.... as a hard left socialist, for Corbyn Landlords are the epitome of capitalism and along with business owners we disgust him. So I can only imagine the crazy laws he'll bring in to punish those greedy self serving landlords with all that obscene cash being made from those poor down trodden and abused tenants (sigh)
But seriously, it's no joke, I was shocked enough with George Osborne screwing up the relief on BLT mortgages. If anything I'm going to wait until the next General Election to decide ongoing strategy.
It could be a very wise thing to do
I dont think anyone would have predicted where we are today with Politicians
Corbyn wants to be PM with out a vote from the public
Cameron and Osborne have a lot to answer for in the UK today
Hi Soopa and welcome.I like the saying "It's time in the market, not timing the market".The only time any of us has to buy property is NOW. We cannot go into the future and we cannot go back in time.Your future will be the result of all the choices and actions you made on a daily basis and for that reason, I would be putting your money to work now, not waiting for all the lights to be on green, because they never will be.With your starting point, you are in a very strong position to leverage your "Cash buyer" position to the max., ensuring you achieve a deep discount.You can then take out a BTL mortgage to redeem most of your cash and then go again.As you already have 5 x BTL, you could also consider reviewing your existing stock and undertaking up-grades or refurbishments as that will also put your money to work harder than languishing in a bank account imho.A lower LTV will always mitigate risk, so bear that in mind as well.Hope that helps?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
> I have been sitting on £350k for around 3 years now, getting a small amount of interest, and am waiting for a dip in the market to hopefully purchase 3-4 properties around greater London.
Have you not seen the dip in the market over the past 3 years? I have been buying since Jan 2017 (in East London) and have definitely seen a dip in the market. I know that you're looking to buy in Greater London, so are you honestly telling me you haven't seen any drop in prices over the past 3 years???