One of my landlords, whose property I manage for him, has voiced an idea that he wants to sell his 5-bed property – and suggested I might like to buy it.
It cash flows well and we have another 10 doors down. The demand is strong so it’s a no brainer really; I just need to concentrate on financing.
My question is has anyone already gone through this scenario, and...
I have been sourcing properties now for nearly 12 months and now I am looking to buy my first property to flip or rent, but I would like to clarify the processes I need to go through.
I am looking to buy a 3-bed terrace and split it in to two 1-bed apartments. Can I split the title through permitted development? What costs are there in this?
I want to use a money...
What is the best way of purchasing an auction property and then refinancing it after the refurb work has been done?
The guide price is 200k, but this property has the potential to become eight self-contained units generating £400 pm cash flow each after a bit of work (£15-25k). I have about 25k for deposit and a partner who would potentially put in the same, but...
I've had an offer of £87,000 accepted on a property that, once it's had a light refurb, should be valued at £120,000. Following the mortgage valuation the mortgage company have come back to me and said they are holding a full retention until the kitchen and bathroom have been replaced, but they really aren't that bad. I've seen much worse and had mortgages for...
I have found a high street property with great fundamentals and a very healthy rental yield.
It is in a very impressive listed (grade 2) building with 10 flats. On the ground floor are two commercial properties - a Sainsbury’s local and a major bank.
The flat I am looking at is on the third floor of this building with windows facing onto the...
I am aiming to buy a freehold BTL property that has three separate flats. I am unable to find a mortgage provider who will give a mortgage on this type of property. I was advised that I must have three separate leases in order to get a mortgage.
How can I get a mortgage on this property?
It’s no surprise that you are having trouble finding a...
The lender I’m with has revised their lending criteria to exclude the mortgage I have had with them and I’ve reached the end of term and need to remortgage.
The property is a studio flat with 63 years lease remaining, value £65k with 40k outstanding, but it is less than 30sq m.
What do you recommend?
You have two problems..
I am pretty new to this, I have found a few BMV properties, one is a 3-bed semi property that will sell for maybe £65k, needs a full refurb, market value on the street is approximately £145k. I don’t have much in the way of funds to put into this, what would the best option be?
The generic answer to your question would be delayed completion...
Do you know any lenders who are willing to lend straight away? I’ve been trying to purchase a second property and they all say I have to wait six months before I can take out a BTL mortgage.
If you have bought a property for cash and are now seeking a mortgage to recycle your cash into your next deal, almost every BTL lender will impose a 6 month ownership...
How can I purchase a property, refurb and refinance to extract most of my money WITHIN 6 months please? I can buy cash if that helps to start with.
Almost every BTL lender uses a 6 month ownership restriction specifically designed to stop you from doing what you want to do, as they view it as increasing their security risk. They feel safe when they have your cash, or at...