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One From Realistic Bear's Neck Of The Woods

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This kind of thinking is where we are at now, and the advice, well, they should be shot! :blink:

This poor guy needs some real independent advice, not advice from an estate agent and a mortgage broker?

Quote from the link.

"House dilemma

I have a modern 3 bedroom House in the West midlands which has been for sale for the last 18 months; has been valued at £190k. A sale had been agreed, but the purchaser dropped out. It is unoccupied and is costing a small amount in council tax (I was getting 50% relief although the council have changed their rules this year) gas, electric, buildings insurance etc. This would probably total £1300/ year.

I have paid off the mortgage in full, I would like to release the capital to invest elsewhere, but the housing market seems to have really cooled off. So the options I am considering are:

1. Leave the house on the market, keep everything crossed and grin and bear it. Although I have not witnessed any growth in the local housing market for the last 6 months.

2. Re-mortgage on a buy-to-let and take say £100k out to invest elsewhere. This would probably be in the stock market later this year. The potential rental is circa £750/month with a 10% management charge (I would not want the hassle myself.)

I am a higher rate tax payer, so any income would be subject to 40% tax. I am not financially tied to the capital, but it would obviously be nice to invest it elsewhere. Any opinions on the above options, or other ideas would be greatly appreciated."

Edited by Panda

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I would put the money in cash, other people will tell you otherwise, but at least sell the house before its too late, you cant sell a house in a real estate crash.

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MSE has a button you can click thanking a user for their post - what it is missing is the opposite, a 'prat' button

You are far too polite?

I would use an expression or term that reminds me of something little boys do when they are all alone with their thoughts? ;)

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