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Buy to let. Cash buyer

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Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    seven-day-weekend wrote: »
    There may be other people who would like a nice place to rent!

    I wish more landlords would get into property around here. Properties to rent are very hard to find....overpriced due to demand and generally of a pretty low standard as they can get away with it.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    How much research have you done into being a landlord in Scotland and the kind of returns to expect? How does a BTL compare with other investments?
  • eddddy
    eddddy Posts: 18,058 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Money_Bags1447 wrote: »
    ...
    I live in Scotland and have £200K in banks gathering dust. I'm considering using a large chunk of this money to buy a second property and letting it out.
    ...

    Be careful about comparing putting £200k in a safe, low risk savings account, with using £200k to set up a property letting business.

    People can lose a lot of money in a property letting business - either because they are not very good at it, and/or because market conditions change.
  • Money_Bags1447
    Money_Bags1447 Posts: 11 Forumite
    Eighth Anniversary First Post Combo Breaker
    Hi and thanks to everyone who took time to reply. Your various views has made me want to spend more time thinking/researching before I commit any money.
    Thanks again. MB
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