What’s the best way to fund an auction purchase? Do I need bridging or will any lenders give an undertaking to release funds WITHOUT knowing the final purchase price? And who can beat the 30 day completion date deadline?
You have a small number of finance options when buying property at auction:
I am considering buying a flat that was converted in 2008 – without planning permission. The landlord tried to get retrospective planning permission two years after conversion (2010), but the Council rejected the application.
Now the property is up for sale and I think a bridging loan wouldn't be a problem, but a mortgage company would ultimately require an indemnity...
I want to release some equity from properties I currently have to purchase some more. Who would be the best person to give me advice?
I'm also trying to find out how easy a property is to remortgage once it's been renovated. Is there a specific period of time you have to wait before you can remortgage?
My first tip is to pick an adviser who is an investor...
I’ve found a shop currently let at £350 pm with a separate flat above currently vacant, but will bring £300-350. The asking price is £69k and, although I've had £60k rejected, they'll take £65k.
Firstly is this a good deal? What will it cost me to buy it with commercial finance? What should I expect to pay in monthly payments and are there...
We are working towards being able to buy houses outright with cash either to do up and sell on, or to rent out and remortgage later.
Other than the obvious benefits of potentially getting better deals by being a safer bet for the buyer and not having to deal with things like bridging interest rates can you offer any guidance on the pros and cons of using this method?
I am looking at a property block of flats that records show hasn't had any sort of planning for a conversion. However, the land registry shows that one of the flats is on a lease. There are three dwellings in the block shown on the planning map. Does that mean that the property may have been converted without consent?
If they have no planning consent then can I offer to buy...
With an inherited BTL I’m about to purchase another property. This is a two-bedroom maisonette with 53 years remaining – but with only 53 years on the lease. I know this needs to be extended to make the property viable for a BTL and have researched the process – so I know what to do and how to do it, but how difficult is it in reality?
We are converting a 4-bed house into 2 x 1 bed flats and 2 x 2 bed flats. We were going to sell, however we are now thinking about forming a company, keeping and renting them through this. Which lenders lend on a development which has just started please? Should we put one property into a company or four separate units?
We bought it in joint names personally with...
If I have unencumbered property, i.e. no mortgages, what creative finance schemes/packages are available for short or longer term for development projects? I really want to avoid BTL finance.
If you really want to avoid BTL finance and are fortunate enough to have an unencumbered property, you are in a very powerful position.
You can offer that property as additional...
I want to purchase a property for a potential serviced apartment; it also works at 8.5% yield as a Buy-to-Let.
I had a JV partner who was going to put in the deposit with the mortgage in my name. My mortgage broker has informed me that no lender will accept a deposit unless it is from a family member. I have not heard this before, is there any way round this?