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Property development
Comments
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and no signs of being members of the FSA, should be regulated ??Ex forum ambassador
Long term forum member0 -
Spam?!
Why don't you ask me instead?
Browntoa, I thought that myself as well at first, but after some research I figured out that the FSA doesn't regulate any personal Lending at all. This comes under the remit of the OFT (Office of fair trading), so I presume they need a consumer credit licence instead!
But I have to ask, 'Pastures New' why did you call me a spam artist?0 -
Sorry, 'Pastures New' I meant!0
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FreshProduce wrote: »Sorry, 'Pastures New' I meant!
You can go back and edit your previous post if you like.
dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
The only way I would do this would be via teabellys 2nd paragraph. I presume you are a young couple so this is the ideal way to progress until you have built up some capital reserves. Any spare money you have at the moment should be thrown at your existing mortgage.
Sorry I know how excited you probably are to do this but you would be taking a lot on at this point in your life.
Even if your figures stack up there's nothing in the budget to cover the increased mortgage payment if the project doesn't sell quickly. Any profit made would be subject to CGT unless you go down the route of selling your own home and living in the project for at least a year.0
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