I did this a few years ago and coz I couldnt be arsed to be in a chain, I just remortgaged the flat onto a buytolet mortgage releasing me some money to put down on my bigger place.
Best thing I ever did. The rent I get for the flat covers both BTL and house mortgage.
But they can if (as per my earlier post), people are willing to get a shared owner ship deal, go halves with a partner, be lent money by their folks etc
To even that out Chuck, my house mortgage is just coming out of fixed term and I've been stung by a whopping 0.75% above the BOE rate = 1.25% . It's a discrace.
Hate to say it but there are too many factors keeping prices up:
- parents are happy to give their kids money either as a kind of early inheritance or as a cash lump they were intending to use to pay for their wedding.
- where 15 years ago single people were able to buy places on their own...
as low as the graph on page 1
yes supply and demand, the supply being there and also the demand that you wouldnt think would be there given the lack of lending:salute:.
The second the economy starts to recover, prices start to rise again with the exception of the last month.
Make no mistake, prices will never get that low. The culture in this country is that people must own their own homes. In other countries people are happier to rent. People head towards...