Can you buy a flat and not live in it?

You could buy on a residential mortgage now, move in and then request consent to let the property. Lenders don’t have to oblige, and many will require you to have lived there at least six months before granting it, although there are some with no hard rules and make decisions case by case.

Is it worth investing in a flat?

In short, yes! Buying a flat in London is a great investment for your money. With house prices continuously rising in the capital, it’s an opportunity that shouldn’t be missed. The market conditions have never been better to buy a property in London.

Is it worth buying an ex council house?

There are two big advantages to buying ex-council property: space and money. As well as getting more space, ex-council properties are significantly cheaper; the Royal Institution of Chartered Surveyors (RICS) reckons ex-local authority property is about 20\% cheaper than comparable private properties.

Are ex-council flats a good investment?

As well as getting more space, ex-council properties are significantly cheaper; the Royal Institution of Chartered Surveyors (RICS) reckons ex-local authority property is about 20\% cheaper than comparable private properties. Cheaper prices mean buyers can afford to live in an area otherwise out of their reach.

Are you poor if you live in a council house?

W hen Octavia Hill launched the social housing movement in London she defined it briskly as “to provide better homes for the poor”. It is reverting to housing the poor and needy, in some sense of those terms. …

Is buying a house or a flat a better investment?

Buying a flat or a house is a significant investment, so naturally, you’ll want to ensure that you maximise your potential returns. With a house, you can add value to the property with renovations, extensions, and conversions.

Why do people prefer apartments/flats over houses?

Apartments/flats provide a huge number of amenities, privacy, and specifications to live exotically that don’t come with a house normally. Buying a flat becomes a good option as it offers a proper security facility, the one facility that is the considering factor for choosing a flat over a house.

Is it cheaper to buy flats with management companies that go bust?

Buying flats with management companies that have gone bust can be cheap as they are often unmortgagble, fix the problem and the value increases. The cheaper nature of buying flats means its easier to buy a large number to build up your portfolio

Should you buy an old flat or renovate it?

If you buy a flat in a good locality where the prices are always on the rise, even if the flat gets old within 3-4 decades, you can still manage to sell it off. Else, you can get it renovated as per your choice. The flat getting old is not much of an issue here.