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[quote][i]Originally posted by J da Silva[/i] [quote][i]Originally posted by Cosmo[/i] From just what Ive been reading, the most financial sense to me is to get a mortgage on them both (both with big deposits) then sit on the apartment with a decent rental income of close to a grand a month. Id expect, hope, that in up to 5yrs time (given getting a good 5yrs fixed rate mortgage is possible at the moment) the apartment should of risen a fairly large amount in value. [/quote] What I'd do, is don't get a mortgage on the flat, get someone in it, take your £1000 a month. A typical 3 bed town house may cost you £450-500 a month with a 10-15% deposit based on current rates from the major banks. Not only would you have your monthly wage, your gaining a good sum from your tennant, which in turn you could pay off any extra off your mortgage on the new house. [/quote]
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