Tradefair & Financials
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I am looking into buying another house and renting out my current property.
When I saw the mortgage advisor he worked out how much I could borrow without a deposit for which I have 15k. (The money is being raised from equity within current prop).
He was suggesting keeping my deposit. Is there a good reason to do this? Why not just get the borrowing right down and thus the interest paid??
I would always keep some back for emergencies btw.
When I saw the mortgage advisor he worked out how much I could borrow without a deposit for which I have 15k. (The money is being raised from equity within current prop).
He was suggesting keeping my deposit. Is there a good reason to do this? Why not just get the borrowing right down and thus the interest paid??
I would always keep some back for emergencies btw.
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http://www.thisismoney.co.uk/money/mortgageshome/article-1671748/House-prices-What-expect--news-predictions.html
price crash IMMINENT |
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uk property is 40% overvalued
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Yeah read that coach. Perhaps I ll wait till the end of summer see whats going on then.
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i would wait about 5 years and rent meantime spykes
not being a doom monger or anything - but why lose money on purpose ? |
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in other words ,use your rent to pay rent elsewhere (plus it saves on other expenses like contributing towards estate agents holidays)
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superoo is correct , it could be 10 years before prices again hit the levels of 2007
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Buy 10,000 shares in AQP
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Remember to take what comes out of the mouth of a mortgage broker/estate agency with the same weight as the words barfed out by an injury lawyer.
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