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Want To Buy More Properties In Cambridge But Haven't Got The Deposit?

The Buy To Let market has come back to life; and there are many landlords snapping up properties ...

The Buy To Let market has come back to life; and there are many landlords snapping up properties to secure a healthier return; compared to banks and building societies.

But what if you haven’t got enough cash for a deposit?

You may not realise it but you may already have the deposit you need tied up as equity in your residential home or buy to let property.

Experience shows that landlords who have owned buy to let properties for some time will be sitting in positive equity; which could be remortgaged to release equity to use as your deposit on your next investment. The recent rise in property prices in some areas, means that property that may have been in negative equity may now be in positive equality; meaning you can remortgage against it.

Well my property is making me money why should I change anything?

The answer to this question depends on your perception of the market and where you think property prices are going to go. Let’s say that property prices go up 25% by 2020 – would you rather own one property that goes up by 25% or two, or three?

Naturally the equity you had in the first place left you with cash; but cash tied up as equity doesn’t generate you any profit. If you used the equity to buy rental properties you will have an income from the rental, and then also reap the rewards of an increase in capital growth.

The aim being that when you come to retirement, instead of selling one property leaving you with a cash sum; you have 3 properties to sell and 3 times the income.

If this is of interest to you and if you want to speak to a re-mortgage expert please contact Terry Lucking at Belvoir Cambridge terry.lucking@belvoirlettings.com .

Alternatively if you have already got the finance in place and you are looking for properties to buy to let and want advice please speak to me before committing. Belvoir Cambridge offers free impartial buy to let advice and have a wealth of experience choosing properties which are good investments.

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