If i had £400,000 cash to invest and wanted good return after 3yrs to invest elsewhere, would either of these seem like a good, short term, large gain option?
To invest in some flats worth 650,000 and pay off the 250,000 mortgage within 3 years to avoid paying lots of interest - then hopefully own outright some flats worth about 750,000
Or put the money in an account and just add the £90+ a year i would be using to pay off the mortgage
Option two there is no rental income (approx. £40,000 pa) but you avoid having to pay a high rate of interest on a mortgage but with option one there is the interest rate you will be receiving combined with the absence of any interest being paid on a mortgage + less hassle! - but then you will not benefit from the potential rise in value that the flats could see over the three years + rental income
Very unsure and any other ideas or helpful advice would be much appreciated
Many thanks
2007-06-12
06:44:51
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4 answers
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asked by
Zna
1