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Buying ex council...
Comments
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Balabalabala_and_Volare wrote: »It's Gosport, Hampshire.
It's not, but a close guess ;-)0 -
Also need to consider any drop in market value. Properties where we are are being reduced (not all but those like the one you describe are) and not selling.
Even a slight drop in market could be significant to you of the btl doesnt provide financially viable and you look to sell. With such a small return anything slightly off the plan could cause significant costs. That plus a void period, s.20 works and/or a bad tenant makes the proposition a poor business decision.0 -
Are you already maxing out your pension?
If not it could be an absolute no-brainer to do that instead because of all of the tax benefits.0 -
My wife has an ex local in east London. It’s not in great aesthetic condition but she’s never had any issues letting it out for reasonable money.Original 35 year mortgage: January 2016, £306,000
January 2022 : £198,000 (£30k saving pot split equally between cash and alternative investments)
January 2022: 2x £3k child ISA.0
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