Vipa Posted April 23, 2014 Report Share Posted April 23, 2014 +1 Get professional and independent advice and don't listen to anyone on here. Too many know f`### alls on here when it comes to money related advice! You will get good shooting/general building advice/opinions on here but when it comes to YOUR FINANCES deal with a pro erm..... Quote Link to comment Share on other sites More sharing options...
Mungler Posted April 23, 2014 Report Share Posted April 23, 2014 I'm afraid I have to disagree. Your mistake was failing to use a solicitor who specialised in residential conveyancing. Use a reputable solicitor who specialises in residential conveyancing. You get what you pay for and sensible people who want good advice, a properly insured and regulated service would as you say use a solicitor that specialised in residential property. That's not my bag at all, so I get to say that with some objectivity. I wouldn't use Countrywide, any firm of licensed conveyancers or any of the factory based services. I 'do' litigation so I get to see it all when it goes wrong. I have to bite my lip because I'm in the middle of something that has gone wrong involving "non solicitors" who "did" conveyancing. Quote Link to comment Share on other sites More sharing options...
provarmint Posted April 26, 2014 Report Share Posted April 26, 2014 Yes enormously helpful to the OP but thanks for sharing your joy at being solvent Back to the question, if you have a right to buy discount of that level you would be completely stark staring mad not to grab it with both hands. Get any old High Street repayment mortgage and look to get the interest rate fixed for 5 years (rates are going up after the election). There is a lock in to stop you flipping your property but I have a suspicion that it's 5 or 6 years so that when the fixed period on your mortgage expires you could just sell your property and cash out. Go and seek independent advice and ignore everything you read on here. EDIT Incidentally, being mortgage free in a climbing market with ultra low interest rates makes no sense. Money in the bank makes no return (because interest rates are so low) and if you borrow, the cost of borrowing is low and the value of the what you borrow is being depreciated off over time against the increasing cost of living / inflation. For example, I am sure that if you got a £20k mortgage in 1970 you probably lay awake at night worrying about how you would ever pay it back.... and of course today a £20k mortgage is insignificant. My thought aswell, after 7 years mortgage free and at nearly fifty years of age I have taken out a mortgage again, you just have to pick a suitable property that will give a return. Quote Link to comment Share on other sites More sharing options...
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