I’ve been planning to get into property investment for several years and had my plan and the funds lined up in 2021, but the market was so difficult that I could barely even secure a viewing, let alone have an offer accepted. Since then the market in my area has cooled down, but interest rates have increased. Given that my borrowing costs will now be higher, is it still worth it, or should I be looking at investing with a smaller level of borrowing (or none at all)?
Adam, London
We understand why you feel this way: it’s a shock to go from planning to borrow at rates of about 2 per cent (as was possible in 2021) to facing costs somewhere in the region