sceptical with balls Posted September 27, 2009 Share Posted September 27, 2009 Hi All I have 6 BTL's that i bought about 6 years ago, luckily enough i stopped buying before they go too expensive. I work 7 days a week running my own business which is bucking the trend at present. I have around £60k ready to spend, i am not sure what to do. Any loans i have are at base +1.5% so there is no point paying any of them off, my home mortgage is Base + 1% Opt 1. Split it into deposits on a few BTLs Opt 2. Buy some rented commercial (what is the best % return i can get in todays market) Opt 3. Buy a building site and build myself a nice house in the country with a self-build mortgage. I think there is going to be some reasonibly high inflation to come due to our very weak pound Can anyone advise Greatly appreciated Quote Link to comment Share on other sites More sharing options...
RDW Posted September 27, 2009 Share Posted September 27, 2009 Can anyone adviseGreatly appreciated Yes, Go to bed you have school in the morning ! Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted September 27, 2009 Share Posted September 27, 2009 Hi AllI have 6 BTL's that i bought about 6 years ago, luckily enough i stopped buying before they go too expensive. I work 7 days a week running my own business which is bucking the trend at present. I have around £60k ready to spend, i am not sure what to do. Any loans i have are at base +1.5% so there is no point paying any of them off, my home mortgage is Base + 1% Opt 1. Split it into deposits on a few BTLs Opt 2. Buy some rented commercial (what is the best % return i can get in todays market) Opt 3. Buy a building site and build myself a nice house in the country with a self-build mortgage. I think there is going to be some reasonibly high inflation to come due to our very weak pound Can anyone advise Greatly appreciated you are working too hard !!! life is toooo short! http://www.youtube.com/watch?v=d0hKdGaUmN0 chill! Quote Link to comment Share on other sites More sharing options...
getdoon_weebobby Posted September 27, 2009 Share Posted September 27, 2009 wait till 2010!! then....................................................... buy this http://www.americancarriage.co.uk/american...l.asp?catId=353 then.................................................... spend the change on holiday. u work too hard! Quote Link to comment Share on other sites More sharing options...
polythene pam Posted September 28, 2009 Share Posted September 28, 2009 (edited) Yes, Go to bed you have school in the morning ! Edited September 28, 2009 by polythene pam Quote Link to comment Share on other sites More sharing options...
Vespasian Posted September 28, 2009 Share Posted September 28, 2009 Can anyone adviseGreatly appreciated Spend some on a private surgical procedure that leaves you just "sceptical" Quote Link to comment Share on other sites More sharing options...
mrcrabs Posted September 28, 2009 Share Posted September 28, 2009 Dear sceptical balls, You should look to buy an apartment. That would be an excellent investment. Why did you go for a BR +1.5% mortgage 6 years ago, most deals were BR + 0.15% at the time. Remember : buy now prices are on the way up!! Quote Link to comment Share on other sites More sharing options...
sceptical with balls Posted September 28, 2009 Author Share Posted September 28, 2009 Dear sceptical balls,You should look to buy an apartment. That would be an excellent investment. Why did you go for a BR +1.5% mortgage 6 years ago, most deals were BR + 0.15% at the time. Remember : buy now prices are on the way up!! Hey MrCrabs I bought them under a UB Business loan, it was the easiest at the time. I am swayed to the building site way as i can get a lot of the work done quite cheap. Not sure what to do Quote Link to comment Share on other sites More sharing options...
Ride_on Posted September 28, 2009 Share Posted September 28, 2009 I have 6 BTL's that i bought about 6 years ago, luckily enough i stopped buying before they go too expensive... Any loans i have are at base +1.5% so there is no point paying any of them off, my home mortgage is Base + 1% .. 6 years ago property was too expensive, if you can sell for a profit get out now, keep one to live in and get a value adding job like farm labouring to pay the mortgage. Don't you think it would be better paying off loans now while you have the chance before the bank calls in the loan once your business gets made insolvent by neg equity and the high interest rates you are predicting? If you have funded your expansion by equity withdrawal you will be royally screwed by the reset as the economy takes the money back. Quote Link to comment Share on other sites More sharing options...
nemesis Posted September 28, 2009 Share Posted September 28, 2009 Dear Mr Balls You have some wonderful ideas and as we all know on here - you can't go wrong with bricks and mortar. I would imagine that your 6BTLs are now back at the price you bought them for - never mind in the long term prices can only go up. Now's the time to pile in before you miss the boat and buy your dream home. After all, the green shoots are there for all to see - even for one as sceptical as you. You are the proud owner of seven properties, and want to buy more, in the biggest bust of the biggest property bubble in the Western world - how I envy. Never ever get despondent by the carping of those who would blame the crisis on unrepentant speculators like yourself - you deserve your luck, you worked hard for it. Yours Nemesis (You might care to Google my name) Quote Link to comment Share on other sites More sharing options...
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