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  • Buy-to-Let

    Is my buy to let property worth keeping?

    I only hold gold and silver through shares and the  physical metals now, and intend to hold for a long time.

    Some background for you.

    The Fed want to cut interest rates because they are afraid of the next recession and trying to postpone it.

    However they know their is nothing they can do to stop it. They have very little room  on interest rates now and zero. people say they and do more QE but the amount required is so massive it would lead to over kill. inflation will be the next problem they face and they either put up rates or still cut. well they will not be able to put rates up as this will lead to financial collapse because the economy has been build on cheap money.

    Therefore they will have to allow inflation to pick up which is good for gold and silver.

    The same principle applies to most economies round the world cheap money, cutting rates and now nowhere else to go , and eventually allow inflation to go up which does help those in debt.

    So gold and silver remain the safe haven asset class and will rally well beyond what many think.

    Today central banks have been adding to gold reserves pp Russia, China, India and even to most surprise Poland and Hungary. Germany has already repatriated its reserves some 300 odd tons from US, UK and France. Took them 5yes to get it all back.

    Why need control of reserves for protection against financial crash and possible break up of the Euro.

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    What rent are you getting for it at the moment? 

    I think selling it to buy an HMO would be prob be the last thing I would do (full disclosure:I dont do HMOs) 

    Get yourself locked into a 10year fixed rate mortgage and let the property do its thing. 

    Falling prices won't impact your rental levels and if the numbers stack up, then as Vanessa says just milk the asset. 

    What noone has told you about in this thread is the higher regulations, costs, risks and hassles of HMOs, especially for someone inexperienced as you appear to be. 

    And if Corbyn comes in if I reckon I would rather own a single let than a HMO.
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    My rent is 1350 per month. Thanks for your answer.
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    Hi Tara

    My advice is that you think carefully as to what your objective and end goal were when you purchased the property in the first place. This ought to be the guiding principle behind any subsequent decisions you make. No decision is right or wrong. It all depends on what your end goal is. The one decision you should make is to NOT purchase a leasehold flat - never! never!! never!!! as a BTL vehicle. Good luck.

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    Thank you for your reply. Just wondering why a leasehold flat is a bad idea? 
    Thanks Tara
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    Tara - they bring added layers to getting things done. Added costs.

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