Mortgage Advice - What would you do?

bexster1975

Hello

I'm with others suggesting investing. At 25 you have the most important thing on your side, time. There are lots of managed funds. I won't post who I use as it will be seen as advertising but do some reading and research. it is impressive that you have a MF plan in hand. There are loads of FIRE websites and blogs, have a read as to how others have done it. Minimising outgoings as well as developing passive income streams will get you there.

As for being a LL, there are quite a few " risks" in my view. Can you keep it let all the time. Cost of tidying up if people let for only 6-12 months at a time, possible " nightmare" tenants ( of a wide range of types), cost of upkeep, tax liable on income ( as far as I know, the law has changed to make being a LL less attractive, allegedly making more properties available to buyers). Selling it on when you are done renting it out, etc,etc. I considered it once when I was almost MF as an investment.

Do you have a spare room in your place you'd rent out? You can earn about £7500 a year tax free doing this. Would be a place to start. There are loads of people on here who will have threads with infinite wisdom on the topic. For investing, might I suggest edinburgher as someone to read.

Good luck

Bexster

Steve123456789

Thanks, I've been looking at stocks and shares and as I said, I know almost nothing.

I understand you want to buy X amount and hope to sell at X+10% or whatever, but no idea as to how to buy or how to know what to buy.


Advice online seems very complicated. Done a lot of reading but no guide seems simple.