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Is BRR out if the question for the foreseeable?


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Hello!

I was hoping to buy a residential property at the end of the year, and follow the BRR where I add value to it and then refinance to pull out some cash

However all I've heard is that prices are going to drop/crash after the stamp duty tax relief ends early next year, so I'm not sure if now is a right time to use this approach? However I was relying on it to raise some cash to invest in a BTL

Is BRR completely out the question now for the foreseeable? Or is there still leeway to add value and refinance after 6 months/a year? In the property market?

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There is scope - especially as now with Christmas and the end of the SDLT holiday are looming. There are some properties where the owner wants to get rid of it and if buyers are few are far between, may take an offer.

No-one knows what will happen next year, so it might be a gamble, but as long as you stick to your figures and don't go with heart-over-head it should be possible.

If the market does drop, you could always just wait until it picks up again before refinancing. It really all depends on the market were you are.

Good luck :)

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