prices ??

peter1000

have been looking at property in the north of england various place there seems to be a common trend the current prices seem to be being reduced,and looking at previous sold prices quite alot of proprty sold for more money 5yrs ago 10 yrs ago!! so not sure what to do i want to rent the property.

TheeMaskedTurnip

If you want to rent then by all means rent and pay off someone else's mortgage. If you want to own then be a man, buy and pay off your own mortgage. Not sure what else there is to discuss here.

pathtofreedom

Do you mean you want to be a landlord? Do you understand how to run a business like that? Do you already own a property somewhere as you'll need to factor in all the tax changes coming in april.

Yes houses can be cheaper t'up north, and have lost money since the crash and not got back to 2007 levels in some areas. It all depends which part of the north your talking about, a lot of smaller towns are dying due to lack of work, factories and warehouses closing down or changing their staff to zero hour contracts etc. So as part of your business plan you'd need to research the area to see why prices have stagnated and if they are likely to reduce even more. Are you then just looking for an income from the rent, and don't mind if the equity reduces even more, or what would be your business plan? If the area is dying you might not be able to get the same rents long term, especially if housing benefit keeps changing reducing, even assuming you can get a btl mortgage and or insurance that lets you have benefit claimants.