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tom waldock

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About tom waldock

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  1. Ok, I think I understand you now. I cannot say I have heard of any such case, I work within a Financial Advisers and we also deal with a lot property finance of all types. Stamp Duty is tax on the purchase of land/property so I do not believe you would be liable for any stamp duty when you already own the property. If anyone knows any better I would also be interested in knowing. Just to clarify, when you say transfer you mean purchase or transfer from sole name to company name?
  2. Hi Jonathan, To be honest with you, a lot of lenders are wary of lending too much to one person for obvious reasons that they could end up having to repossess all your properties (they always look at the worst case scenario). Many lenders will limit the number of mortgages you have with them and some even limit the number of mortgages you can have with all lenders. Lenders such as The Mortgage Works start limiting the amount you can borrow with them once you reach say £500k total borrowing, and then again at £1mil. Once you hit these levels of lending they limit the LTVs down to 70
  3. Evening all, I'm Tom, living in Cardiff and along with my Dad I am looking to get into property investment. My initial plan is to look at flipping a few properties up the road from Cardiff in Rhondda Cynon Taff. Once I have some experience and some extra cash in the bank I will start to look to do the same in Cardiff a possibly keep some of the properties to build a moderate sized portfolio. I am actually qualified as a mortgage adviser although I have continued exams further into the finance industry but I work for a company that deal with a large volume of mortgages (
  4. Hi Marty, It seems like a difficult situation, firstly my understanding is that BM Solutions only offer BTL mortgages and if I am understanding correctly, this sounds like her main residence? May be another sticking point ? Unfortunately it is some lenders criteria as they are not happy with under value transactions. There are lenders out there that will look at under value transactions and take gift of equity as a deposit but it may be that arrears she has on her credit file means she does not fit criteria with these lenders. If she hasn't already I would make sure she
  5. Whether you buy with cash or a with mortgage has no affect on the stamp duty payable, neither does purchasing in a Ltd company name. If you already own a property then you will be liable for the additional 3%. There are exemptions for residential purchases but I am guessing this is an investment property and therefore easier not to go into that.
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