I am hoping you can help with the following! I'm 28, single, and have £50k in the bank to do something with. It's a not a bad position to be in, but the trouble is I don't know what to do. I've been out of work for the last year (starting again in January) so I couldn't get a mortgage I don't think, and I am passionate about travelling, so I'm not sure I would want to. Besides, I live in London and love it, and feel I could never afford anything there.
I've been looking at the new student buy to let properties, but am unsure as they in some ways seem too good to be true - guaranteed yield of 8% and then buy back etc - but also very unknown. I could buy something small in a northern village and rent it out, but again am new to this - what's the risk? Bank rates are rubbish. Where should I put my money? At the moment I feel like it might as well be under the mattress, but that makes for uncomfortable sleeping.
What are people’s experiences of these student properties? Do they represent a good investment? Would love to know your thoughts!
I hope you can help!