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buy to let in north ilford


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I saw a house sale in north ilford (a desirable area) for £290K.

I need to get a motgage of £170K to purchase.

Mortgage paypent is about £1000

Possible rental is about £1200

I don't particularly mind if very little profit is made; its really investment for the future.

Am I mad!

Currently the savings I have are in a fixed bond, which yields about £300 per month.

Any advice.


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Am I mad!

Yes I think you are.

You can't seriously be proposing to invest £120,000 of your own money for a 2% return before tax and expenses and then borrow the balance of £170,000 @ around 7%

If you really want to waste your money just give it to me.

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