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  • Mortgages & Finance

    Valuations on properties purchased BMV

    Bridging sounds v risky in a falling market - and the lick of paint/new carpets seems unlikely to add any appreciable value.

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    It's minimised somewhat by the fact we do have funds available should we absolutely need to call on them, the reason for bridging was because we probably don't have enough to buy quite as large a property out right to renovate and if we did we'd need to sit on it for 6 months when we want to get more property. Another reason is that at a time it is valued, you can see what new value the property would be post-renovations and if it's looking dire you can walk away. I consider that alone invaluable and worth some high interest rates for a short period.

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