Can you recommend somebody who can help me with 100% bridging finance?
If you mean where you put nothing into the deal, that is not how bridgers work, except in exceptional circumstances. They always want a safety net built in so they can sell off the property quickly, if they need to, and recoup their money.
This means for virtually every deal you need to put up...
A property career often starts as a way to supplement your full-time income, these days known as a ‘side hustle’ or ‘the 5-9 job’.
Some people keep it that way, finding a couple of properties and letting an agency manage them, so the rental income pays for holidays and the occasional new car.
Some start off with that intention and then get bitten by the property...
I am about to view a two-bed apartment, which has a low asking price and an impressive yield. What are the pitfalls to watch out for? Is it hard to raise finance for this kind of purchase as a buy-to-let (BTL)?
This is one of a row of flats that are above commercial properties, mostly shops (this on is actually above a kebab shop). There is pub next door....
When you’re ambitious about your property career, but your bank balance isn’t quite ready to start buying properties, it can be frustrating. You want to get started, but saving that all-important deposit to get started is holding you back.
After all, there’s only so much money you can put away each month - and if you’re in a job with a family to look after,...
If you own a property that was mortgaged and not owned outright, could you still put that as security for a bridging loan?
This is a good question and a good opportunity to examine what I teach on the Ninja Investor Programme. The answer is ‘yes’, but let me explain more.
An unencumbered property is highly advantageous if liquid cash is not available or is...
Most property investors rely on mortgages to purchase properties. Bridging as a means of financing a purchase tends to be treated with suspicion; it’s unknown territory.
The problem is that most people take their knowledge of mortgages and apply it to bridging and that’s where disaster lurks! Here are five core facts about bridging.
With a mortgage, the...
I have a property worth £170K with a mortgage of £105K. How much would I be able to borrow on bridging finance for another property?
The first important thing to consider is what the second charge bridging market looks like.
Not all bridgers lend if you cannot offer them a first charge. You can’t do that, because your mortgage lender already...
If you’re nowhere near being in the position to buy properties outright, read on - there’s a way you can benefit from all the advantages of being a cash buyer, without having a huge wad of cash.
Cash buyers have advantages:
Like most things, the devil is in the detail! It is easy to get bridging wrong, and many do, largely because they blunder in thinking it is easy. It is a simple way of funding deals, but you need to understand how it works. I have been teaching how it works and how to use it intelligently at my Ninja Investor Programme workshops since 2013.
I call bridging counter-intuitive -...
I've taken out a fair few mortgages in the past and I’m comfortable with that kind of finance. I have no experience with bridging, so my questions are:
What are the key things to look for?
What would be considered a 'good' bridging deal?
What term would you normally look at, 3 months? 6? Is it easy to extend?
There are lots of advantages to using bridging...