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  • Buy-to-Let

    Biding my time - When to return to BTL?

    Hi all, my first post on this very informative site!

    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.

    My question is, is it worth sitting on the cash any longer? I can make the money work for me now, or waiting another year to see the impact of Brexit.

    I would love to hear your comments and suggestions. I already have 5 BTLs for 13 years.

    Thanks! S
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    I've been reading lately that we are currently 'mid dip' so now might be the time!

    However, speculation aside, no one really knows what effect brexit will have and most people are carrying on 'as normal' we are still arranging long AND short term loans for experienced landlords Smile
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    Financial Consultant working with Property Tribes Financial Services.

    BTL Specialists.

    Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - austyn@ptfs.co.uk     07500 871209

    I would be more worried about Crazy Corbyn and his merry band of nutters getting in power than Brexit.

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    Big Grin
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    Financial Consultant working with Property Tribes Financial Services.

    BTL Specialists.

    Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - austyn@ptfs.co.uk     07500 871209

    This scares me big time - if he gets in - time to move overseas and take my money with me.

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    I fully understand you concern

    He would be a nightmare for anyone with Property

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    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.

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    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

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    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.

    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?

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    Thank you for the repsonse Vanessa. Very insightful + You've made me think now Smile It is so true, time waits for no one - so i should get my money working for me very soon. Waiting another few months won't hurt, just to see what this uncertainty will bring. Jan 2020 will be my go date i think. Have a nice day everyone! S


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    > 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???

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