2nd property sch fees Post Reply

[Elissamew1]

I'm really sorry to hear about your parents. Dealing with inheritance can be overwhelming, especially when it comes with financial decisions. It's smart to seek advice from a financial advisor. While finding someone who specializes in both mortgages and finances might be a bit tricky, it's definitely possible. When I was in a similar situation, I stumbled upon investingdubaiproperty.com. They not only helped me with property investments but also provided solid financial advice tailored to my needs. As for taxes on a second property and rental income, it can get a bit complex, but your advisor should be able to guide you through it.

[Red1981]

@tomsmum2008, well, all the points I have already mentioned apply to your case, too: I don't see buy to let making a lot of financial sense in London, now, for the reasons I have already mentioned.

To recap: mortgage rates are very high compared to rental yield and, even if you are lucky enough to buy cash, there are better, safer, easier investment alternatives. Like I said, I think it might make sense only if you are convinced that you can raise rents substantially year on year (leaving aside the ethical implications) and/or if you are convinced that you will make next to nothing in rent but the property will appreciate a lot in the long term. Neither is guaranteed.

I would not do it.

@SouthLondonDaddy I've been reading your posts in earnest as we are in a similar position to the original poster and was initially thinking of investing in rental properties. You mentioned above 'safer easier investment alternatives', other than the stock market (which also carries its own risks), can you provide any insight into what these might be?