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Any good investment for 'buy-to-let'?
ggyyree
Posts: 33 Forumite
Hi smart guys,
As the housing price keeps going up. I am considering to get a 'buy-to-let' investment.
1. We have got £90,000 deposit now and both of us are working full-time with £30,000+ salary. And we own a house now without any mortgage to pay. Roughly speaking, we would like to invest £300,000 - £400,000 for a 'buy-to-let' plan.
Is there any good recommendations for a place in London (within zone 6) that could have good profit for a buy-to-let' investment?
My friend told me that the development of Westfield Stratford City could be a good investment as the new facility may boost the economy at that area.
Or maybe you smart guys have better ideas of location.
2. As our first house is fully under my wife's name. Will it be possible to buy the second one ('buy-to-let' one) under my name as a first-time buyer, which may have some benefits?
3. Or maybe invest a commercial property is a good idea?
Thanks very much.
A.
As the housing price keeps going up. I am considering to get a 'buy-to-let' investment.
1. We have got £90,000 deposit now and both of us are working full-time with £30,000+ salary. And we own a house now without any mortgage to pay. Roughly speaking, we would like to invest £300,000 - £400,000 for a 'buy-to-let' plan.
Is there any good recommendations for a place in London (within zone 6) that could have good profit for a buy-to-let' investment?
My friend told me that the development of Westfield Stratford City could be a good investment as the new facility may boost the economy at that area.
Or maybe you smart guys have better ideas of location.
2. As our first house is fully under my wife's name. Will it be possible to buy the second one ('buy-to-let' one) under my name as a first-time buyer, which may have some benefits?
3. Or maybe invest a commercial property is a good idea?
Thanks very much.
A.
In a world without fences and walls, why bother 'GATES' and 'WINDOWS'?
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Comments
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Your brave..or?It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
2. As our first house is fully under my wife's name. Will it be possible to buy the second one ('buy-to-let' one) under my name as a first-time buyer, which may have some benefits?
To purchase a buy-to-let house with a residential mortgage is indeed possible. The only snag being that if you lie about buying a house to live in when actually you intend to rent it out, it is what is known as "fraud" and is something banks as a rule are generally not keen on. In fact, it tends to make them rather cross.urs sinserly,
~~joosy jeezus~~0 -
Where are housing prices going up?0
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Where are housing prices going up?
London and SE have been rising for three years now, and looks set to continue. Nationwide Land Registry figures are also positive YoY.
Cheaper, low deposit first-time buyer mortgage should return within the next year or two, brining a further* boost to house prices.
*further to Funding for Lending, long-term 0.5% rates, unrelenting immigration, ultra-low house building, NewBuy, shared-equity schemes, continued strength of BTL demand etc etcHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Thanks, takes a long time to filter down to the rural South West, so wasn't aware there was a mini "boom" up there!
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Turnbull2000 wrote: »London and SE have been rising for three years now, and looks set to continue. Nationwide Land Registry figures are also positive YoY.
Our economy was booming as well right up until the point that it wasn't.urs sinserly,
~~joosy jeezus~~0
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