I've had three very different opinions from three brokers on a First-Time-Buyer-First-Time-Landlord BTL mortgage. I've got JV experience (through a Ltd Company), I don't have a mortgaged property (I rent at present), I’m recently divorced and have a smallish cash pot.
I can't afford to buy where I live, but this is where my kids go to school, so I want to stay...
Are there lenders who do not require a personal guarantee on limited company mortgages?
Look at it from the lenders point of view. You, as the shareholder and the owner of your company, can decide to shut your company down overnight. There is nothing the lender can do to stop you. That potentially weakens their security. If you stop making the...
Property investment takes time.
If you put down a 25% deposit and get a buy-to-let mortgage for the rest that’s the first step. Then you probably need to do some work on the property to improve it and wait until you’ve owned it for six months. Only then can you apply to refinance it with a different lender and get a proportion of your money back out.
Has anyone managed to get a mortgage on an ex- local council concrete-built block? I own a flat in one of these in London and I managed to get a mortgage when first purchased, but I am now struggling to remortgage it.
Historically, lenders have had issues with lending on high rise ex-council concrete blocks. It is less about which floor the actual...
If I purchase a property at auction with cash or bridging finance, does that mean I don’t have to wait six months before refinancing? I’ve heard that there’s a ‘6-month rule’ that requires me to wait for that period of time.
Also can I refinance at the full market value?
Are there any work-arounds to this?
Some lenders choose to apply...
I'm new to purchasing property for investment, I've only ever bought property to live in and, while I've managed to negotiate a small discount here and there, I've never pushed things too hard as I've always really wanted to buy the place (so an emotional rather than subjective mindset).
Now that I'm looking at property as an investment I'm understanding more and more that...
Neither is better, they're just different strategies.
Buying to sell (BTS) gives you a significant cash lump sum (if you do it right) within months.
Buy-to-Let (BTL) gives you a much smaller monthly profit (if you do it right) for years to come, with the bonus of potential capital growth (depending on where you buy).
When you’re buying property as an investment you need capital to put down a deposit – and then it’s locked into your property for six months or more, until you can remortgage.
With this approach you’ll be lucky to manage to add two properties a year to your portfolio, unless you have a very big nest egg. The do you want to lock your capital into a mortgage? ...
When looking to buy a BTL property at what point does the length of the lease term start becoming a factor and should be taken in to account?
80 years is a pivotal number, because you cannot get the freeholder to extend the lease until it reaches 80 year point. However, from a mortgage lenders point of view 80 years is not that pivotal, it is quite easy to get a...
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...