Opportunities you should not overlook
Are you looking out for unmortgageable properties with problems that you can solve? They’re lucrative investments if you know how to leverage them – and with smart financing, using bridging they are great opportunities.
These are all great for intelligent investors, but mortgage lenders won’t touch them.
- A derelict property
- Properties where part of the building is in severe disrepair and needs demolishing
- Properties without a kitchen and bathroom
- Properties with multiple kitchens
- Most lenders do not lend on properties valued below £50K, especially buy to let lenders
- Most lenders will not lend on a leasehold property with a short lease; typically less than 70 years
- Lenders are very unlikely to lend on a property with sitting tenants/Regulated Tenancies
- Properties with any kind of structural defects
- Properties with damp, mould, dry or wet rot, wall tie problems
- Properties where planning applications have not been applied for correctly i.e. flat conversions with no PP
- A property with Japanese Knotweed is not mortgageable UNTIL the weed has been correctly eradicated or at least in a recognised treatment programme
- Vacant commercial properties are unmortgageable until they are tenanted.
These are all problems that have solutions and it’s likely that you can purchase far below market value. If you have access to bridging lenders who are willing to lend against actual market value, as long as you have a solution, they’ll be willing to provide funding to get your project off the starting blocks.
If you’d like some help with finding the right lenders, please give me a call.
You can learn more here:
- Contact Kevin Wright over on his Facebook page.
- Browse the Recycle Your Cash online training library by clicking here.
- Attend an upcoming 1-Day Property Finance Masterclass event - Book in here.
