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Vineet Gupta

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About Vineet Gupta

  • Rank
    Super-member

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  • Website URL
    https://evolutionblogger.com/

Profile Information

  • Location
    London
  • Areas I invest in
    London. Leeds. North West
  • Property investment interests
    Buy To Let
    Service Accomodation
    Commercial
    Commercial Conversions
    North American Real Estate

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  1. If you take out your new mortgage at 60% LTV, that would be cautious and you would get the lowest interest rates. 60% of £300k is a £180k loan. So you take out £45k, which should be enough for a £125k buy to let property
  2. It's not currently lettable with an EPC of F, so a lender would surely raise issues. How expensive is it bring the property up to compliance?
  3. How expensive is your furniture? If it's a little old, then you have little to lose by saying yes Small damages can be claimed from the deposit
  4. Your question is far too long for anyone to read. If you can write a shorter message, I would be happy to look your post..
  5. I think there is little justification to spend more than £500 on a broker for a buy to let
  6. £70k is a really nice budget. The north is also a terrific area, as prices are low. Leeds, Manchester, Liverpool are all good places to invest. I would suggest to spend 3-6 months educating yourself and then move fast and buy a property. It's ok to make small mistakes in your 1st property - that is how you'll learn! Some key things to learn: - Choose a city to buy in - Buy to let mortgages. Speak to a mortgage broker BEFORE you make an offer - Company Structure. Ltd co or personal name? - Buy to let taxes - Know how to price up an investment property, e.g. estimate renta
  7. In my opinion, you'd be better off setting money on fire Nobody on this forum knows the future and when a crash will come. If they did, they would be trading stocks and earning millions FYI: I have worked in Investment Banking for 15 years
  8. According to this link, it looks like a standard form. Why not email a solicitor with the document, and ask for a quote for them to look at it?
  9. When you invest in BTL, lenders look at the ability of your property to satisfy the mortgage interest payment. When you invest in a residential property, lenders look at the ability of your salary to satisfy mortgage payments (this is where your 4.5x becomes relevant) So for your next BTL investment, you need to make sure that your property will earn enough rent to pay off the mortgage. Your mortgage broker will be able to find a lender that isn't too concerned about your 4.5 residential mortgage. Cautious lenders like HSBC won't like it, but many specialist BTL lender will be fine. You m
  10. Let me get this right. You plan to borrow £60,000 for 2 years and do nothing with it? During that 2 years you will pay out money every month for interest payments, while earning nothing from it. If you borrow at 3% for two years, you will have paid £3,600 in mortgage interest payments and got nothing back. You'd be better off by setting money on fire..
  11. Interest only is the way to go for nearly all property investors. Why does you need to pay off the loan? You have a revenue generating asset that provides an income to pay off the interest payments You can pass on the property to your children. They can pay off the monthly interest with the incoming rent
  12. It's a good idea in my view. It's the #1 way that people get into property
  13. You will need to speak to a solicitor that specializes in Probate
  14. Offer to pay your current landlord a higher rent for staying on longer. it's better than being homeless
  15. It doesn't really matter what the surveyor says (in my view). Loads of people will give you unsolicited advice in the world.. What matters is - what price can you do the deal at? If the seller won't sell to you at an 8% yield, then you're stuffed and you miss the deal. If you like the property, then you should do the deal
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