I have seen several large houses for sale in auctions that have been split into self-contained flats; it seems quite common.
The house is on one title the agents describe it as a ‘large house currently being used as flats’. But there doesn’t seem to be any planning permission for use in this way or building regs for extra kitchens and bathrooms.
I...
Before you stop reading because you don’t think your bank balance is big enough to buy property for cash – STOP!
Have you noticed that cash buyers always get the best deals? It’s those magic words “What discount will I get for cash?” Whether that’s buying a car, a new washing machine or a suit, cash buyers often pay less.
Unfortunately,...
If you’re negotiating delayed completion so that you can do refurbishment after exchange, if the purchase price is £65K and the refurb costs are £10K, but the value after works is £85K, can you apply for a mortgage against the full value (£85K) even if you’ve exchanged at £65K?
The biggest obstacle you face, is that at point of...
This is how to create a flow of cash from one project to the next as seamlessly as possible.
Bridging finance is a smart solution in many situations – but not all bridgers work the same way. You need a bridger who will lend on the property’s VALUE, not what you are actually paying.
When it’s time to refinance, you will need to to convince the lender’s surveyor of...
I believe that mind-set is the defining factor between success and failure in property – and in any other area of life.
I meet people in property all the time and the people I meet are at every stage of the property journey from the ‘thinking-about-it’, through the ‘just-getting-started’ and ‘property-as-a-sideline’ to the professional property...
THE QUESTION
How can I learn about the pitfalls and benefits of making the step up to a Portfolio landlord?
I have been advised by my mortgage advisor that there are additional challenges gaining finance once you move to this and I am almost there.
THE ANSWER
Any mortgage broker should be able to explain how applying for a mortgage as a portfolio landlord differs. They should know what...
The obvious way to purchase an investment property is a buy-to-let mortgage. This is great if you’re building a property portfolio and intend to have a mortgage for a long period and pay it off over time.
However, some investors aren’t buying to let, they may have a buy-to-sell strategy or buy to convert to alternative use – for instance to an HMO, commercial...
When a property is unmortgageable that rules out everyone who hasn’t got a big wad of cash to buy it outright. In any case, who would buy an unmortgageable property? Doesn’t that mean it’s a lemon?
No, unmortgageable properties can have substantial profits locked inside the front door!
The problem is that mortgage lenders are conservative and keenly focused on only...
Has anyone had an experience of lenders not accepting property because of lack of acceptable NHBC certifications? The house was originally a bungalow and has now been extended extensively.
Four lenders have confirmed they will not touch it. As the property is classed as an initial occupancy, it has been altered, extended and refurbished and is being sold for the first...
When you’ve found a property you want you’re not going to pay top dollar – especially if there are good reasons to get the price down. To do this successfully you need to learn smart negotiation skills.
The Negotiation Transformer model uses Powerful Positioning to guide you through the negotiation process successfully. It uses the acronym SPEECH to help you...
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