UK Landlord Forum / Life

Hi all,

ill get straight to the point.....

I am meant to be exchanging contracts this Friday !!

what concerns me is all this Brexit uncertainty, the house has taken months to secure (solicitors, lenders dragging their feet)

At the 11th hour I am having serious cold feet about this .....

rising interest rates ? house prices going to drop ?

Or do I just bite the bullet and do it ? as we don't really know whats going to happen with Brexit

Thank you 

What's the property for?

It's being purchased as an investment (buy to let) -- 63k and looking for £450 a month so about 8.7 yield ... Needs nothing doing to it but this whole britexit deeply concerns me

Why? Brexit isn't going to affect the housing crisis the country is in. Hundreds of thousands of houses aren't suddenly going to get built. Some European people may decide to leave, but if your property is desirable and reasonably priced then people will still need to live in it. You may not be in an area where your target Tenant was a European anyway.

Maybe you're worrying over nothing. Actually, obviously you are if you're unable to crystallise your concerns into words. Just being "deeply concerned" about something nebulous isn't going to get you anywhere. If all you're concerned about is interest rates rising, then you should've gotten a fixed rate mortgage - I do that as a matter of course anyway... NatWest 5 year fixes... you pay more in the interest rate (of course) but it gives you some serious stability. If you start out winning in (Rent > Repayment Mortgage) then after a few years of increases the sums just get better for you.

Don't worry, be happy.

You only live once, do it