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What is the negative side to buying a property with cash?

Asked on Sep 22 2010, General in London | Report content

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  • What a great position to be in and if its to be your home there are no negatives, make sure you get a survey done to be safe. If it is a second home or you plan to let the property then you will have to pay tax on any profit made and you would therefore mat be better of paying interest on a mortgage than income or capital gains tax. Speak to an independent financial advisor as they will tell you what is best for your needs such as maybe an off set mortgage.

    Answered on Sep 23 2010, Report content
  • I agree with Mark if it is your residency there are no drawbacks, the only issue is with capital gains on any secondary investment property.

    Answered on Sep 23 2010, Report content

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