8:12 AM, 2nd December 2013, About 8 years ago 16
I’m so glad I found this forum as I have been trying to decide for months what I should do – buy a property outright or take out a mortgage and buy to let ….
I have a property I bought (and live in) in central London – no mortgage now, worth roughly £400k. I have savings of around £150,000 but am nervous about taking out a mortgage.
Ive been toying with the idea of buying a couple of properties for say £50k each (outside of London) and holding onto them as long term investmests. However, looking around as I have been doing I think I could get a London property for £250k. So my questions really are:
My biggest fear is loosing the savings or taking a risk on interest rate charges next year or so….
Lots of questions!
It seemed straightforward in the beginning but the more I delve into the options the more I’m going around in circles!
I would just like to get started!
Any help or pointing in the right direction would be a massive help.
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