We have 3 investment properties that are currently let out. If they could be sold (we be hit with CGT) they'd get us around £300,000.
We've recently returned to the UK after being away. Currently in rented but hoped to be out and into our own place in 6 months which is February next year.
Hourly rates/salaries here have dropped to very low amounts so our earning potential is quite low. This won't get us much of a house if we can buy.
We hoped to have re-mortgaged one of our investments (they are mortgage free) to put a deposit down on a family home but even with that I think the banks are being quite strict.
So my point is should we look at a longer term rental and see what happens to property/mortgages/GFC in say a couple of years?
Been away so not sure how banks are lending, properties are selling etc.
ANy thoughts/suggestions?