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james lambden

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About james lambden

  • Rank
    Established member

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  • Location
  • Property investment interests
    Repossesion property, auctions, development.
  • My skills
    Lawyer, repossession property and Lender sales. Sales of businesses.
  • My goals
    To replace my earned income with passive income in the next 10 years.

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  1. I am with LNPG as well, as John says we are not allowed to reveal prices, but it really is a no brainer on Kitchens & boilers in particular. James
  2. Hi Aneil, Your best bet is to use a broker as they understand the market and what the requirements of different lenders are and therefore if you are likely to be accepted with multiple lending. I would recommend that you use a "whole market" broker who is not tied to just a few lenders as they are able to offer the best advice and widest selection of products. In my experience BMS (Birmingham Midshires) and Virgin Money (formally Northern Rock) allow multiple applications and multiple BTL mortgages, I am sure others here will be able to provide additions to this list. James
  3. Hi Darren, I also use Steve @ Fylde Tax Accountants and like Jayne above am very pleased with the work he does for me. Hope that it of assistance. James
  4. Try my broker Trevor over at Leyland Finance, he is is very straightforward straight talking chap. Trevor Leyland Financial Adviser Leyland Finance Limited 7 Ryton Close, Blyth, Worksop, S81 8DN www.leylandfinance.co.uk trev@leylandfinance.co.uk T. 01909 591068 F. 01909 591006 He doesn't use electronic signature I'm afraid bit in my understanding you wouldn't be able to sign a mortgage deed or similar document in this way in any event although i have seen it used for other contracts. Hope this helps James
  5. I agree with Simon, It is lilkely down to development exposure rather than construction in this case. As an example on BTL Virgin Money wont, as a rule, lend on more than 20% of any one development - e.g. on a 6 unit development they will lend on only a single unit. James
  6. Hi Kerry, Yes you should definately have the report before exchange - after exchange you are committed to buy so any decision making needs to happen pre exchange. James
  7. Hi Kerry, I don't necessarily disagree with what Kylie says above, you may wish to look at the individual search results yourself. However as a Lawyer myself and having done many residential transactions and looked at countless searches over the years they mostly are a very formulaic in nature and either confirm certain aspects of the nature of the property - the drainage and water search for example will typically just confirm whether or not the property is connected to mains sewerage and fresh water supply and provide a plan showing the route of the pipes and confirm the provider (
  8. Hi Phil, There are lenders who who will deal in this area of the market, however approaching them directly, is in my experience, futile. This is because as a contractor you just don't fit into the boxes that lenders use. I am in exactly the same situation releasing money from an existing property and being a contractor. I am a Lawyer but work as a contractor and found that the only way to go was to use a specialist broker, who has contacts direct with the underwriters at the banks. Typically then all you will need is a contract of at least one months duration at the time of applicati
  9. Hi Everyone, My business partner and I have located a property what we believe to be a good auction purchase which requires full refurbishment before a resale for what could be a decent profit if we can get it at a good price. We are considering using bridging and i have been looking into the various options and it seems to be a good deal in the short term with rates from .65 - .73% per month. I am just wondering what peoples thoughts are about bridging and if anyone has any recommendations of particular brokers or lenders and any personal experience that they might be able to
  10. Hi Carl, These days location for professional advisors is in my opinion is less important than it used to be especially with modern technology being what it is with email etc. Accountancy in particular is the same in London as it is in say Manchester. I can recommend my accountant Steve Fay who is a property specialist and also an property investor himself, which for me is important as he understands both the tax rules but also the practical application in the real world. Steve is based in Blackpool but is often in London and I have met him at the accountants association offices
  11. Hi Craig, No worries at all, i had a quick look at Capital Fortune and the fee does seem to be somewhat high but you always have to pay a fee to your broker when you are in out type of non standard situation, its a cost of doing business I'm afraid. As for brokers, give Trevor Leyland of Leyland finance a shout and see if he might be able to help, he has helped me with a couple of deals and is very quick. Trevor Leyland Financial Adviser Leyland Finance Limited 7 Ryton Close, Blyth, Worksop, S81 8DN www.leylandfinance.co.uk T. 01909 591068 F. 01909 591006 Do keep us u
  12. Hi Rob, I have the original one, but an audible copy would be great please, as it will be good to revisit it and refresh! Cheers James
  13. Hi Joe, I have just agreed to buy a repossession property in Gorton, which is East Manchester for a very reasonable 42k - it needs work but even after refurbishment i estimate a double digit yield being achievable. Manchester IMO has great fundamentals but some areas of town are nicer than others and attract different tenant groups. However that being said the rental values for bog standard two up two down terraces don't actually differ hugely across town - between 425-550 PCM, however the purchase price could vary anywhere from 45-85k depending on the area. It depends on your s
  14. Hi Craig, Yes you are correct in your assumption that there is little reason in approaching your existing lender. NRAM (formally Northern Rock Asset Management Plc or as they are sometimes known "the bad bank") is basically a state owned holding company and its only role is to deal with the run off from the previous Northern Rock Plc mortgage book, which had a large proportion of "bad" mortgage debt. It does not offer new products and is concerned mainly with administering current loans and wrapping up the mortgage book in the shortest possible time for the least cost. This happens thr
  15. Hi Jason, I have actually just agreed today to purchase a two bed terrace in Manchester so the timing of your reply is very welcome. I will certainly be giving these guys a call in the coming weeks with the hope that they will be able to assist me on this first project and I will certainly mention that you recommended them. I really appreciate you taking the time to post and to give up some of your contacts. Cheers James
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