Got knocked back for a but to let remortgage

dean_ham

cwodavids wrote: »

Selling is the last thing I would be considering. The centre of economic business research predicts an 7.6% growth for the next 20yrs on property, even the government with a conservative estimate predicts 5.5% growth over the same period (www.communities.gov.uk) Bite the bullet and try to keep hold of it at all costs! Don't panic about negative equity, property in the long run NEVER loses money otherwise banks wouldnt give you up to 5 times your salary :-)

Have you tried a remortgage with your current lender which should get round a few of the problems your experiencing.

D

ha ha ha post of the day well done :T :T :T

Tiddler_2

To be honest, you have to see Buy to Let purchases as a long term investment. There will be some years where you may lose money.

Whilst there are a lot of people saying sell, sell, sell - doing so will panic people into selling and make their predicted 20% fall in property prices a self-fulfilling prophecy!!

PayDay

Captain_Mainwaring wrote: »

If you had a wadge of equity and a cheap mortgage to repay then you would be making money,

Making money? When the value of the property is falling and will no doubt continue to fall? How does that work then?

mystic_trev

Stop complaining! Etiquette dictates that you should subsidise your Tenants as your 'Investment' will have doubled in five years time!:rolleyes: