Property Advice

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brooklandsblue2.0

Well-Known Member
Joined
7 Dec 2008
Messages
9,035
Location
my ivory tower
Hi Gang.

I’ve got (approx) 200k in my current property and have been told I can borrow another up to 330k. Ideally I don’t want to stretch myself so I’m looking at a mortgage of about 280k. This leaves me with about 480k.

This is clearly a lot of money and having never had this much I want to make sure I make the right choice. Should I.....

A) pay off the remaining 20k of my mortgage and let this and have another 800 quid a month rent coming in and move to another house with a mortgage?

B) sell my house- take the money and put it into a really nicer house in a nicer area.(altrincham / sale / Didsbury)

C) Sell my current house take the mortgage and buy off plan or a number cheaper flats / BTL properties? If anyone could tell me the tax implications / law regarding how these work that would be great.

D) Any other ideas on how to make my money work for me? **

**This is not open season for the forums comedians and men trapped in a horny teenagers mind to post things like “stick it up your nose” “go to Bangcock” etc etc cos I’m not interested.

Thanks.
 
brooklandsblue2.0 said:
Hi Gang.

I’ve got (approx) 200k in my current property and have been told I can borrow another up to 330k. Ideally I don’t want to stretch myself so I’m looking at a mortgage of about 280k. This leaves me with about 480k.

This is clearly a lot of money and having never had this much I want to make sure I make the right choice. Should I.....

A) pay off the remaining 20k of my mortgage and let this and have another 800 quid a month rent coming in and move to another house with a mortgage?

B) sell my house- take the money and put it into a really nicer house in a nicer area.(altrincham / sale / Didsbury)

C) Sell my current house take the mortgage and buy off plan or a number cheaper flats / BTL properties? If anyone could tell me the tax implications / law regarding how these work that would be great.

D) Any other ideas on how to make my money work for me? **

**This is not open season for the forums comedians and men trapped in a horny teenagers mind to post things like “stick it up your nose” “go to Bangcock” etc etc cos I’m not interested.

Thanks.
Click to expand...

Spend it on Thai brass
 
Buy an apartment In town. I wil give you a good discount. Get a great one for 480 with a good view.
 
worsleyweb said:
Buy an apartment In town. I wil give you a good discount. Get a great one for 480 with a good view.
Click to expand...

It would make sense as I work there and love the “thought” of it but I don’t think it’s a good investment / it’s a bit volatile If I ever have to sell quickly or need my money out. Kudos on a sensible answer also ;)
 
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