We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Buy to let
aztecs2003
Posts: 3 Newbie
I have 50k in savings, should I buy a property to let and over pay the mortgage and therefore own more of the property each year and sell in the future. Or should I invest the money. I don't need it in the foreseeable future I was thinking of investing in property like a pension plan?
0
Comments
-
If you dont know what you want to do with your money you should speakl to an Independent Financial Advisor.
They will assess your risk profile amongst other things and be able to advise you properly.
From your OP theres no way anyone can give you a clear answerI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
There are a lot better places than property, many have been badly burnt and others will be disappointed with their returns.
Speak to an independent financial expert for a full range of options. It is always best to diversify your investments rather than all in one basket.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0 -
Why property? What kind of yield do you think you will achieve? How does it compare to the other investments you mention? Can you be bothered will all the hassle? What are the risks?
My own view is that property is not cheap enough to be worth the hassle at the moment.0 -
Looking at 6.3% return, could buy holiday property and rent that out and earn a larger sum each month but I k kw that I won't rent it out for 52 weeks of the year0
-
aztecs2003 wrote: »Looking at 6.3% return, could buy holiday property and rent that out and earn a larger sum each month but I k kw that I won't rent it out for 52 weeks of the year
You won't or anything like it. In the resorts near me the season is from April until the end of September. Also there has been a massive shift from the 80's and virtually everyone is now a day tripper with few people staying. There aren't many hotels that get fully booked any more.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards