Jump to content

eamon heggarty

Established Member
  • Content Count

    84
  • Joined

  • Last visited

3 Followers

About eamon heggarty

  • Rank
    Established member

Profile Information

  • Location
    Array
  • Areas I invest in
    Array
  • About me
    Array
  • Property investment interests
    Array

Recent Profile Visitors

1,357 profile views
  1. @Adam Hosker Thanks for the reply. Yeah just under 75% LTV (72% LTV) plus free val and £300 cashback. 1.69% Santander tracker true cost over the next 24months is more than the BM Solutions due to the £1759 fees in total. 2 year fix is a great idea. Will look into that but the "true Costs" BM solution seem to be the winner.
  2. Lender - BM Solutions Product - EVG BTL 2 Year BBR plus 1.51% Tracker then BBR plus 4.34% for Term Remortgage Only Initial Rate - 2.26 % (Tracker, 1.51 % above Bank of England Base Interest Rate) Initial Monthly Payment £ 229.76 Set Up Fees - £0 (£0 to broker and £0 to bank) Note: -Pulling 40k out and after the next 24 months i hope to Re-finance again as the rate will be at 4.34% on the 25th month. - Can go Fixed for 5 years but plan to refinance again within the next 5 too. Thanks
  3. Hi All. Any recommendation for a great letting/management agent? Thanks Eamon
  4. Yep crystal clear. Obviously a downside on fixed is not being able to access funds from the property again for 5 years vs being able to access funds but initially not being able to remortage the maxium amount.
  5. Hi All, In the middle of remortgaging my BTL and the broker came back to me staying he could get me 33K Additional borrowing with the Life time variable rate or 40K+ with a 5 Year fixed. (FYI 40K additional would still leave me around 30% LTV). Why would banks be willing to lend more on the 5 year fixed vs the Variable rate and what are the drawbacks from this vs each other. Thanks Eamon
  6. Hi All, In the middle of remortgaging my BTL and the broker came back to me staying he could get me 33K Additional borrowing with the Life time variable rate or 40K+ with a 5 Year fixed. (FYI 40K additional would still leave me around 30% LTV). Why would banks be willing to lend more on the 5 year fixed vs the Variable rate and what are the drawbacks from this vs each other. Thanks Eamon
  7. Thanks for the feedback again. She finally got back to me today after 2 weeks no response, apparently only holiday. Still very strange. She lived in OZ for 6 years so was a custom to paying 6 months to a 12 months in advance, so i dont believe it was a massive warning sign (similar to dubai when i lived there). Hopefully all is good now but thanks again for the quick responses and options on what could be done @richard brown @dennis hughes @ben sewell
  8. Anyone ever experienced this before? Current tenants leaving and handing over the keys to my new tenant in 5 days however my new tenant (who had paid 6 months in advance) has went AWOL and both her numbers dont work, whatsapp picture gone, non responsive to emails etc. What would you do if your tenant had paid for 6 months rent and didnt show up to actually live in it? Eamon
  9. Any Tax Savvy People? Would you be able to help or clear this up if you have time please. I am purchasing a property with my friend (we both live together) who is a first time buyer and i have purchased a BLT but don't own any residential property. We are buying in Glasgow and would love to avoid Stamp duty. We have a mortgage company who will lend 90% LTV and my friend will be named on the title and i will be the beneficiary. If i wasn't the beneficiary we wouldn't get the 180k amount need to purchase the property. Therefore setting the mortgage up this way we believe that Stamp Duty would be avoided as my friends first time buyer rights would be in place and me being the beneficiary i wouldn't active the 2nd property Stamp duty. Have any of you came across a situation like this before and any advise would be amazing. Eamon
  10. Any Tax Savvy People? Would you be able to help or clear this up if you have time please. I am purchasing a property with my friend (we both live together) who is a first time buyer and i have purchased a BLT but don't own any residential property. We are buying in Glasgow and would love to avoid Stamp duty. We have a mortgage company who will lend 90% LTV and my friend will be named on the title and i will be the beneficiary. If i wasn't the beneficiary we wouldn't get the 180k amount need to purchase the property. Therefore setting the mortgage up this way we believe that Stamp Duty would be avoided as my friends first time buyer rights would be in place and me being the beneficiary i wouldn't active the 2nd property Stamp duty. Have any of you came across a situation like this before and any advise would be amazing. Eamon
  11. @jamie stewart Great that you get into the work yourself. Hope all is going as planned this year. Property hub has now shut down but ill have a look at the BSD one. Looks promising. Will let you know in the future if im heading down that direction. Cheers
  12. No this is coming direct from my Bank who i currently have my BTL mortgage with.
  13. Hi John, Would the prices i've pointed out above be fairly standard or are they excessive? Paying in the region of 3.5k for a remortgage on a property seem a lot to me (especially the increased interest rate, do you believe this isn't the case? Additionally the bank will only let me re invest the money I've pulled out to purchase another property. I'm to get more clarification on this but this also does seem strange. (although this is where the tax benefits do come into play when remortgaging) Cheers
  14. Hi @jamie stewart Yeah i can see the appeal for commuter villages, especially price point. Do you do most of the work your self or so you sub-contract it out? Is your strategy also to pay off your properties with a repayment loan and not an interest only? Interested in Govan and thornwood. Slightly to the west/southwest of Glasgow as i see the best purchased price to rental ratio and believe these areas will be up and coming. Off plan has worked out for me with the property in Birmingham but my hand was pushed at the time as i wanted to invest but didn't have feet on the ground in the UK at the time. Due diligence with the developer is the only risk i seen but they has a great track record. Do you know of any master mind / Property meet ups in and around the glasgow area?
×