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Buying House 4 Investment?

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From moneysavingexpert forums thread:

Hi there everyone, this is my 1st post after many hours trawling through the site which is fantastic. I could do with some advice though please.....

My partner and i are looking at buying a 2nd property here on the west coast of scotland to either rent as a holiday home or longer term. We own our own home which is worth approx 150,000 and are considering mortgaging this to buy the 2nd property which could reap in considerably more than the repayments. Is this foolhardy? We have no investments and would like to buy property as a longterm investment/pension and figure we could make money as the market is rising 10-20% a year here. We would only look at new build so would get the 10 year NHBC as further cover...

Any thoughts or are we being very stupid/naieve??!!!



Anyone want to give some advice?!!!

Link: http://forums.moneysavingexpert.com/showth...d=1#post1472997

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yeah - go for it love :rolleyes:

ah , the NHBC guarantee - always handy if you run out of toilet paper. :P

i've had dealings with the chief exec of the NHBC, one imtiaz farokhi - but nothing to be repeated on a 'family site' like HPC!

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