A Way Forward?
Having trouble selling
a property right now? You will be aware that the sales market has
slowed considerably. What is
the answer? Reduce your price. There is a buyer for
every property if the price is right! But
I can’t
afford to reduce the asking price!
There is another option – this
one could not only enable you to move home when you are
ready, but will also provide an income and allow you
to delay your sale until the market improves. This option
is letting.
Due to the pressures of the credit
crunch the demand for rental property is better than
it s ever been. No longer are people looking for one
or two bedroom properties for a short period of time. Now we have enquires from
people in all walks of life wanting anything from a one
bedroom cottage to a five bedroom Victorian des res! Properties
can be let for six months or longer giving everybody a
chance to sit back and watch what happens in the property
market while providing a much needed income.
But how can I afford two properties?
Speak to an independent mortgage
advisor about a 'Let To Buy' mortgage, an alternative
to the well-known 'Buy To Let' option, which allows you
to borrow money to buy a new home to move into, while
your existing residence is let out to tenants. An
independent advisor has access to a variety of mortgage
products available and will be able to hopefully find
a suitable product for you.
Finally you may find you enjoy being
a ‘reluctant’ landlord
and want to continue into the future, maybe even adding
additional properties to your portfolio! |