Quote:
Originally posted by Red Steve
Put the deposit into a buy to let property. Take an interest only mortgage on the balance.
The rental income should more than cover the mortgage payment, and the property value will rise over the next 10 years (despite the gloom & doom merchants currently spouting off) giving you an excellent return on your investment. |
I'd recommend not going for an interest only mortgage, but go for a repayment with as little repayment period as can be afforded, therefore getting a full return on the property at the end of the mortgage period. The property can then be sold, or the rent used as an income, without the rental payments reducing the rental to virtually a zero income - but this is taking a longer term investment view and not as suggested a way of making shorter term income.
Tim
