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Kevin Wright

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  • My skills
    Positive Property Finance is a niche financial brokerage service to help you develop your property portfolio with finance that is fast and flexible.

    As both an investor and with years of experience specialising in financing property purchases for landlords and property investors who want to grow their portfolio without tying down all their capital.

    Although the days of no deposit mortgages are gone, there are intelligent ways to leverage your capital to allow you to buy more properties quicker than conventional strategies allow.

    Want more info? Look up www.positivepropertyfinance.co.uk

    Do give me a call on 01206 586586 if you’d like to discuss this.


    Make your cash stretch much further by using creative and totally legal strategies.

    The Recycle Your Cash workshops are run all over the UK and help property investors and buy-to-let landlords to:

    ► Get all of your money out on the day you complete
    ► Low, low deposits when you buy below market value
    ► Buy way below market value in under 5 days

    Check out the next workshops on www.recycleyourcash.co.uk.

    The Ninja Investor’s home study course will also soon be available.
  • My goals
    to help every investor buy more property, faster but with less cash
  • Interests outside property
    visiting Turkey every chance I get...my home from home

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  1. As brokers Chris, we use several. Can you have a link - sorry no. Can you use us to broker the auction finance for you - yes Many thanks, Kevin
  2. effectively it means 'sold as seen' you buy the property with whatever problems may be lurking within it. Not really the type of deal someone new in property wants to risk their shirt on, whether they have the cash or not
  3. Welcome Suzie, yes I run a brokerage, one that has brokered hundreds of bridging loans. I also own and run the UK's only bridging specific property training programmes. The circumstances are, you find a property you want to buy and improve (either to sell on or rent out) and you bridge the purchase of it. You don't need to own other assets, and your incomes are irrelevant. Yes you are eligible! How much you can borrow depends on the deal you have in mind, too many variables to list here. When people have deals, they bring them to me and I guide them on the best way to structure financing the deal. For further info you can visit some of my websites. Probably the most relevant one is this one www.recycleyourcash.co.uk There is plenty of free, as well as paid for, content on there
  4. Wrong Suzie, you don't need to be a property owner to get bridging. We have brokered hundreds of bridging deals and that is just not true
  5. you have really boxed yourself into a tight corner there Matt 1) breaching your mortgage lenders T&C's by converting the property into two flats. You have now given them the option of calling in your mortgage 2) compounding that by also failing to get planning permission for a change of use that requires it You have got some great insight into the why's and wherefores of bridging from experienced people so far. Some context here may help and not much point sugar coating it. One thing any bridger wants to know before they agree to lend to you - how are you going to give them their money back? It would seem questionable that you can answer that - you might IF you get planning approval (and planners don't overly like people who ride roughshod over planning regulations then plead forgiveness) and IF, having got planning approval, you can find two mortgage lenders willing to lend to you (given how you have behaved with your current mortgage lender) and you can overcome the barriers of not being able to be both freeholder and leaseholder on the property needing two BTL lenders an one lender wont lend on both properties needing the two leases to be in different names as lenders don't like lending when one person owns all the leases in building "bridging finance? It all seems very expensive!" - given the scenario you want them to lend against, its hardly surprising really. Expensive, compared to what? your only other option would appear to be getting repossessed by your current lender for breaching their T&Cs. If you can get a bridging lender prepared to lend to you in such circumstances, you should bite their hand off as they will be your only salvation and the cost of it should be balanced against how much you would lose by being repossessed.. As Alistair says, you need to use a specialist bridging broker, like either of the two who have contributed so far, or ourselves. Choose one and hope that they can help to save you.
  6. Hi John The vast majority of UK mortgage lenders have one basic criteria that they require applicant to be currently resident in the UK. That means any expat or foreign national wanting to invest in UK property gets a straight decline. There is a limited market of other lenders that will lend to expats. You need to have a strong provable income and you don't need to use a Ltd Co structure (unless you want to) As Emma says, being a UK property owner already opens up more lenders but it is not a must to be so. We have brokered a number of expat mortgages so if you want us to do the same for you, we would be happy to Kevinwright@thinkpositively.co.uk 0044 7889 526979 PS: do you know there are active property investors networking meetings running monthly in both Zurich and Geneva. Different nationalities with the common interest of investing in UK property. I have been to the Zurich previously one and they are a good bunch.
  7. A good idea in what respect Bob? In terms of needing to renew the lease? You wont need to worry about that until it drops below 80 years In terms of getting a mortgage on it? Mortgage lenders only start getting twitchy when it drop below 70 years
  8. depends how much longer. A few months longer and yes it will still be taxed as traded income. There is no definite HMRC period but say 3 years + and then it is more likely HMRC will class it as a capital gain and tax accordingly.
  9. you are different to Jordan mountainswimmer as you are classed as a property owner even though that property is not the one you live in. Some lenders certainly require you to own the property you live in but others just require you to have owned a property for more than 6 months. Your mortgage broker should be able to find you a lender
  10. you are classed as a first time borrower Jordan i.e. you have never owned a property before. BTL lenders almost without exception do not lend to first time borrowers. Strange that Williams and Woods Lettings believes that they do. Why you may ask? Simply because they believe that people in your position have tried unsuccessfully to get a mortgage to buy a property to live in; their earnings are insufficient to get a mortgage big enough to make that happen. As a result they now try to get a BTL mortgage because the income requirements are more relaxed although their clear intention is to live in the property not rent it out and thus flout the BTL lenders T&Cs. You may be perfectly genuine in your intention not to do this but for BTL lenders it is impractical to devote resources to working out who is and who is not genuine. Far simpler, in their view, just not to lend to this type of applicant in the first place. There is one lender that will give a BTL mortgage to a first time borrower but your income is below their minimum, so you cannot use them. Thus the answer to your question is to buy your own property first because you cannot get a BTL mortgage in your current circumstances.
  11. Yes I know BIG, they tend to be more into new build development projects. Simon Allen makes a very valid point Isobel, if you have no experience of bridging, you have no way to evaluate how good ( or bad) any deal is that a bridger offers you. You will be much safer to align yourself with a specialist bridging broker (there aren't many) to guide you and to source the most appropriate bridger for your flips. We would be happy to do this for you and Simon is also one of the good guys.
  12. No mortgage lenders valuer is going to value a property in excess of the purchase price Greg, they always default the valuation to the purchase price being paid.
  13. with the Precise Bridge to Let product, don't you get two value at the beginning, the current and end value. So, based on the work you told the surveyor you were about to embark on n, they would have already submitted the end value to Precise and now just come round the check you carried out the work
  14. I would guess not but it never hurts to ask for reduction to the asking price, the worst the seller can say is no
  15. as you will have read form earlier posts Tom, you would not have an issue with the lease until it drops below 80 years, that is the time to think about extending it. You can ask the seller to reduce the price to take into account that you will incur the cost of extending the lease some time in the future. It never hurts to ask but they may say that's your problem not theirs as they are selling a flat that does not need a lease extension. It will pay you not to delay extending the lease once yours drops below 80 years because it gets progressively more expensive the fewer years left on the lease. You will have no issue getting a mortgage on it to buy it, nor to remortgage it if you so choose until the lease falls below 70 years. So you are safe for some considerable years to come
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