Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I need some advice from experienced investors please. I live in Oxford and am looking to buy my first Buy to Let property.
I have a deposit of £120k and the normal 3 bed properties in Oxford are priced at around £380k to £425k. My mortgage advisor has advised that from financial point of view I will be able to buy a property at around £390k.
I am unsure if I should buy in Oxford or somewhere in North (Liverpool or Salford) as buying in Oxford will mean I will have high mortgage repayments. I am in full time employment and low rate tax payer.
Is buying far from ones residence has any negative points – I will be looking to employ a property manager.
I look forward to any comments and advice please.
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