If I buy a property for cash through a Limited Company, does the 6 month rule regarding remortgaging apply?
Some lenders choose to apply a 6 month restriction, whilst others don’t. Actually, it isn’t really a rule, just a restriction, but it has commonly become known as ‘the six month rule’.
For those lenders that apply it, the point to get...
Do you have experience with renting Retirement properties? Is it a good idea to buy a flat at the seaside and rent it as a retirement property?
There are two issues here:
Number one is a great idea if you have cash to burn! No mortgage...
Does bridging lend enough to cover the purchase price and the refurb cost? If not, how can you get the maximum amount of funding?
Most bridgers lend 70% of the purchase price, but a handful lend 70% of value. This is great if you are buying below market value (BMV) as you can use the discount towards your deposit, but to buy with no money down (NMD) you would need...
I’ve just been offered an HMO in need of some work. There's about £20k in the deal, and it could be flipped or end up as NMLI (no money left in), but it's a Wimpey no-fines house, i.e. poured concrete construction. I have heard that Birmingham Midshires lend on these, but considering an exit strategy (immediate or in future) is it wise to go down this route?...
I’m looking for finance to buy a small B&B, what do you recommend?
Small B&Bs tend to be problematic to finance. This is usually because the owners have a narrow view (encouraged by their accountant) of the property’s value based on keeping the taxable profits of the business down to a minimal level.
Of course they benefit by pocketing almost...
I have seen a property that has 60 years remaining on the lease with great potential to develop and sell, but the price is at market value and the length of the lease makes it a risky proposition. If we could get a lease extension prior to purchase that would work, but agent claims it will cost £107,000.00 on a property valued at 600,000.00. I need expert advice...
Serviced Accommodation (SA) seems to be the new HMO in terms of the property strategy everyone is talking about doing.
I can see the attraction for an investor. Like HMOs, SAs offer a superior monthly cash flow, but do I need any special mortgage for a property I am going to let out by the night or can I use a normal BTL mortgage?
You cannot run a Serviced Accommodation...
Can you buy a property for cash, using other people’s funds loaned to your Limited Company, carry out a refurbishment and then remortgage on to a BTL, hopefully releasing some equity to pay back the investors their initial stake in addition to their margin of interest?
Following the remortgage the property will be solely owned by your own Limited Company and the initial...
Here’s a scenario:
How does the lender feel when they know you only paid 150K?
Also how does the vendor get their 150K, is that just a paper...
I’ve been advised to go out and find deals and the finance will follow. I have found a few suitable projects, done the sums and offered to purchase. We lost a deal earlier in the year as we failed to finance it and we currently have two deals on the table that are good few weeks down the line and the vendors are starting to get itchy feet (quite understandably).
This...
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