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Anecdotal - Btl Sucker-punch

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Colleague of mine just told me he has bought a two bedroom BTL flat from a developer in Bournemouth for 95k with no deposit. The deal was done 'through a mate' - an intermediary - who arranged the mortgage and 'absolutely gaurantees' tenants once the building is completed. He also gets a cashback sum of 4k. I am not familiar with the ins-and-outs of this sort of thing but it sounds extremly dubious. I have tried to explain the risks, but the guy is like a bloody Hari Krishna, bleating on about how property never looses and now is the time to buy before everything shoots up again due to dropping interest rates.

It seems that there are quite a few suckers still dancing round this particular ring, chins thrust out asking for a good left uppercut to the jaw.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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