Halifax announces record breaking price falls in real estate business, many people would think this is the time to consider buying a new house, but far more factors (beside prices) should - and will – influence potential investment decisions. First of all, necessity doesn’t have to be scaring nowadays, but investments won’t do really well (due to the permanent price falls). It is important you avoid needing a mortgage that represents a very high proportion of the property prices, this can be done, for example, by making regular or one-off overpayments. Finally James Cotton advises to have a big deposit from saving, which is not only a way to get a mortgage, but also to a better rate.
Tim Van den Berghe
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