zak100 Posted June 23, 2011 Report Share Posted June 23, 2011 Hi. 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. Thanks Link to comment Share on other sites More sharing options...
Richlist Posted June 23, 2011 Report Share Posted June 23, 2011 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. Link to comment Share on other sites More sharing options...
Melboy Posted June 24, 2011 Report Share Posted June 24, 2011 Zak 100 Forget it! A totally unviable investment. Mel. Link to comment Share on other sites More sharing options...
zak100 Posted June 24, 2011 Author Report Share Posted June 24, 2011 Thanks for the advice; I figured this was going to be the response. It was my wife who was encouraging me...do you get the impression she wants me to go to an early grave! Link to comment Share on other sites More sharing options...
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