Advice needed! Please Help !

Discussion in 'UK Property' started by murrayo, Nov 2, 2009.

  1. murrayo

    murrayo New Member


    I would be very appreciative to hear some UK investors opinions on what you would do in my situation;

    3 IP's in Luton;
    1 studio - £ 75k ish (owe £0)
    1 2bed g/f flat - £120k ish (owe £90k)
    1 2bed 1st floor flat worth £120k ish (owe £30k ish)
    both mortgages are Interest & repayment & always have been - (I dont get the 'IO' thing!)

    So I am lucky to have equity & tenants in all of them. I live abroad & have a home with a small mortgage.

    What I am asking is ...... in the current climate - would you recommend raising money on these properties & buying some 'bargains'...

    I have not got a huge salary at all now , since I moved to the sun !

    I have a wife & a 1yr old & we basically spend what we earn , but do not touch the UK flats or the money from them......

    I hope this is enough info to base an opinion on ! Thanks in advance for your input !

    Murrayo !

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