Can someone explain any downsides to leasebacks.
I am considering investing my sipp into one.
MilkyJust read most of the forum and you will see the downsides. Can you tell us how this SIPP works with leasebacks?
Milky,
The main downsides are:
1)Increasingly management companies are not paying,or reducing the so called "Guaranteed" rent!
2)You may have to pay a hefty "Exit fee" if you come out of the lease early!
3)Co-op fees can be substantial and remember it will you,not the management company,that will be coughing up for any building repairs!
4)Almost no chance of selling during lease period!
john
Are they still popular.
There popular with agents,lawyers,accountants,mortgage brokers,notairs & the new Leaseback fixers or any other fee chaser!
Do you have a few years free to listen to the problems??
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Milky
Just read most of the forum and you will see the downsides. Can you tell us how this SIPP works with leasebacks?
Milky,
The main downsides are:
1)Increasingly management companies are not paying,or reducing the so called "Guaranteed" rent!
2)You may have to pay a hefty "Exit fee" if you come out of the lease early!
3)Co-op fees can be substantial and remember it will you,not the management company,that will be coughing up for any building repairs!
4)Almost no chance of selling during lease period!
john
Are they still popular.
There popular with agents,lawyers,accountants,mortgage brokers,notairs & the new Leaseback fixers or any other fee chaser!
john
Do you have a few years free to listen to the problems??