Investment Deals
Hey Guys,
Still waiting to go on the Property Mentor course, but I just couldn’t wait to tell you this.
One of my tracker deals has gone down to 0.99% a month!
You see, when the Bank of England first made their interest rate cut the other month, I knew it wouldn’t be long before they did it again. So like the sensible investor that I am, I grabbed one of these tracker deals, and waited.
And I am glad I did. I am now paying just 140.25 a month, for a property I invested in for 170,000. It’s fantastic!
Now I am not writing this to you to brag (well I am a little, sorry can’t resist), but I wanted to pass on this good fortune to you.
Particularly as there are rumours a foot that they plan to cut them again in January 2009 – it’s not too late for you to get a hold of one of these deals too!
Now I have to admit I wouldn’t normally use tracker deals, but at a time like this they are too great an investment opportunity to miss.
*To those of you that are new to property investment, and are not aware of all the deals, here is a quick summation:
Tracker deals are influenced by the Bank of England, so any changes – either up or down – can impact upon your mortgage repayments. Meaning, if the Bank of England chooses to raise interest rates, your lender has every right to follow suite and raise your tracker deals too.
Now like a said before I wouldn’t normally opt for this kind of deal, but with lending options shrinking, I thoughHey, why not. For the next 2 years at least, they’ll boost my repayments!
Take these figures for example:
0% deposits: loans types down from 257 to 10
5% deposits: loan types down from 1,126 to 15
10% deposits: loan types down from 1,152 to 151
The market shrinking, forcing investors like you and me to find deposits of up to 40%.
And I don’t know about you but that is a large about of money which I’d rather keep a hold of. So as I said, I gave one of these tracker deals a go, and well… the results speak for themselves.
So if you’re looking to buy property, I recommend trying one of these before the next interest rate cut. They are great!
