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Hello and some questions!

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  • Hello and some questions!

    Hi people, decided to join this forum to help canvas some opinion about property buying.

    I have recently received a large sum of inheritance money. I am currently debating how to manage it all and it seems an ideal time to invest in property given the market. I already own 2 buy-to-lets in the Manchester area and now have the chance to expand and could probably buy at least 3 more. I should add that the money is important to me emotionally so number one priority is that I dont lose it all!

    I have found financial advisors to be nothing but trouble in the past, hence posting here.

    My questions:

    When would you guys say is the best time to buy?

    What types of property are likely to be most profitable in the current market?

    Tracker or fixed rate or mixture?


  • #2
    I think we're simply looking at a spring bounce and that the market has much further to fall.

    That's my honest answer - I can't see any real economic indicators that suggest we're in a process of recovery at all.


    • #3
      I agree here with Brian, there is some good activity on the market but this would appear to be a false dawn and, in my opinion the market should fall further.
      Worldwide Financial Planning is a specialist independent provider of Large mortgages.


      • #4
        i think we're looking at the turn of the year before any real recovery takes place. the economy has taken too much of a beating for a quick recovery to take place.

        unemplyment has a long way to go before reaching it's peak, and the consequences of the government's huge borrowing won't be felt for some time yet.


        • #5
          Re: Hello and some questions!

          Hi Mathew,

          I think we still haven't seen the bottom of the property market even now, but that is moot really, prices are low now and will rise eventually. If you invest in property now make sure your rental income covers your mortgage costs and you're laughing whatever happens in the marketplace.

          When considering mortgages I always go with fixed, simply because that way I can plan ahead accurately and know what my expenses will be for the forseeable future.

          A few of my investor friends have got trackers and they are laughing now, they have never had so much money coming in from those properties seeing as they are paying next to no interest on their mortgage. The problem is that interest rates will rise again, soon I believe, and they don't have enough equity in their properties to remortgage them right now.

          It looks like a no brainer when you read the stories in the papers but the bottom line is that you are always better off with the devil you know...

          Anyway, that what I think, feel free to disagree.



          • #6
            Re: Hello and some questions!

            There are opportunities around but if you can wait until after the general election. From I have been reading fixed rate mortgages are currently more popular than trackers. People are worried that interest rates are going to rise.
            Portugal Property for Sale


            • #7
              Re: Hello and some questions!

              I agree. I'm going to hold off and wait and see what happens after the election. Although, I did read something interesting the other day suggesting that a good place to buy is Wickhambreauxnear Canterbury. A new high speed train service is commencing work, which will cut travelling time to London to only 23 mins.
              Last edited by Property-Inventory; 16-02-2010, 01:42 PM. Reason: wanted to add some points
              Property Inventory


              • #8
                Re: Hello and some questions!

                I think that the market may not yet be in a state of full recovery, even though the property market does seem to be getting better. I would however take the oppertuniny to invest inheritance money in property as you will always get a decent return on renting.