Property investment tends to depend on you having worked hard to save a nest egg that will provide you with a deposit to buy your first property. If you’re planning to get into property seriously, you’ll need cash for refurbs too. Saving up takes time.
The challenge is that you need at least 25% of the cost of your chosen property as a deposit, in order to get a mortgage. Your first buy-to-let mortgage will require you to jump through a number of hoops as the lender is laser-focused on your ability to pay back their money. That means you need to prove you have an income that will support your mortgage - now, not after you’ve refurbed your property and found a tenant.
Bridging works differently.
If you want to know more about bridging, come on one of our Masterclass days.
You can learn more here:
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