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[quote][i]Originally posted by Daimo B[/i] [quote][i]Originally posted by nik[/i] No offence but your be hard pushed to buy a house on that income mate, your need to save a deposit too unless you want your pants pulled down on repayments. And in this climate I wouldn't say investing in property to make money is a good idea. [/quote] Have to concur. With the due mild recession (it'll come, being in the western wolrd with teh US crash it's gonna be hard staying out), getting big loans and mortgages I think is supposed to be quite hard atm. Don't forget the costing, bills, solicitors, surveyors etc... Need to shell out a few grand before you can even move in. What if you get sh1tty tenants. You will only get an interest only type mortgage, i don't see the point in them. You have to hope the house value goes up to make any money, as your only paying the interest. Its a good plan, but like most things in life, if you want success with something, you need a decent amount of capital in the first place :( [/quote]
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