Question

I am currently going through a remortgage on one of my properties to release some equity to buy two further properties. 

I have a good idea that I have valued the house right myself from the research I have done and as such I have submitted this number to the mortgage provider. 

Should I have got a professional valuation first to avoid the risk that the valuation comes in...

I am in the very early stages of researching the potential purchase of a commercial property with a view to converting it to a residential property. I'm struggling to find a great deal online that is useful about this. I have put out some feelers with some folk I know and thought it would be worth asking you!

Are you using property in the singular, or do you really mean plural? For...

I'm finishing up a refurb in sunny Coventry. The valuer is going round in about week, any tips to get the maximum value? And has anyone used a home staging company to dress a house & was it worth it? 

This is my recommended step-by-step approach:

1. Make sure you are present at the survey
2. Provide highly detailed works schedule
3. Give plenty of 'before' photos
4. Have details of comparable...

Question

I have 3 ex-council flats in concrete blocks with no mortgage on them. I have tried to get a mortgage but cannot find a lender who will lend on them. I want to use the money locked in the flats to buy more property, can you teach me how bridging finance works and if that would be applicable to these flats?

Answer

Perhaps it might help if I gave you a few simple facts about bridging...

I have made an offer on a BMV property? (fingers crossed). I was hoping for a family member to buy for cash, renovate the property and then me and my business partner could buy it with a mortgage getting our cash back out. 

Our objective is to recycle as much of our cash as possible as quickly as possible.   We are hoping to purchase the property for 85K, spend 10K on refurb and have...

Your question:

A friend of mine has just been offered an HMO in need of some work. There's probably about £20k in the deal, so it's probably worth looking at from that point of view. Could be flipped or end up as NMLI.

But...

It's a Wimpey no-fines house, ie poured concrete construction. I have heard that BM lend on these, but thinking of an exit strategy (immediate or in future)...

I often get opportunities offered like this:

I've got an Incredible BMV in West London - for a CASH BUYER ONLY. I've just got the valuation done via Home track and, guess what? Its worth £716,000!

The asking price is 495,000 for a quick sale and I could get it down to 450k, as it's a very motivated seller who needs to sell asap. Do let me know immediately if...

 “I am full time in property” is a pronouncement heard frequently at property meetings. My question is, are too many people in too much of a rush to get to this nirvana like state, without fully realising the adverse effect it has on their ability to raise mortgages? Would they not be better to slow down and take their time reaching that pivotal moment in their lives until the...

I can see people are puzzled as to why HMO's aren't valued as a simple multiple of income by commercial lenders when commercial properties usually are.

I would suggest it is because there are some fundamental differences between the two…

Commercial

1. leases are long, up to 20 years
2. lenders take comfort from the lease providing an increased likelihood that the loan will continue to be...