out the mortgage - The Independent - Saturday 4th November
is 1989, The buy to let idea had not been born. The BES -
Business Expansion Scheme was still in vogue, however interest
rates on mortgages were at 9.8 percent in May 1988, were facing
a situation whereby they were paying 50% more.
In The Independent article featured here a young professional
couple had overstretched themselves to buy a £300,000
dream house in South London.
did not want to sell, so they did what a lot of people did,
rent out the property and move abroad. Had they sold they
would have made a great loss and we were then in the era of
the rest of this at the Phillip Suter website Here