7:59 AM, 24th December 2013, About 9 years ago 12
I’m in a bit of a predicament, I’m currently looking at investing in property to let but a few years ago, I unfortunately got my hands bitten and am therefore am unable to get a mortgage due to poor credit and defaults etc.
I have a bit of money sat in the bank and have come to realize that if I buy north of the country, I could buy outright.
Could anyone give me any advice on doing so please? I know it has it’s possible pros and many cons but basically I just want to know if I’m going to make money or is it more hassle than it’s worth?
The area I’ve been looking at is Shildon, County Durham. Has anyone bought there before or own property there now that can give me advice or does anybody have knowledge of buying in areas that they are unfamiliar with?
Should I go for it or am I better off waiting for a couple of years until my credit is fixed and obtain a mortgage so I can buy closer to where I live (bearing in mind, house prices are at an all time low and are set to rise).
Any help and advice would be greatly appreciated.
Previous ArticleEvicted tenant has left belongings and not contactable