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Sam Boots

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  1. Thanks Vin, will have a read through later. Nice site btw
  2. Thank you both, this is useful to alleviate some fears. Steve - I might give your firm a call next week! Cheers Sam
  3. Hi, Wondering if anyone here has had a similar experience or can help. We purchased a newly converted flat in Leeds a couple of years ago and at the time got a mortgage on it fine without any issues. As we have come to re-mortgage time, we just received an rejection from The Mortgage Works as the surveyor noted the following: "The property lies adjacent commercial premises(mainly low value storage/warehousing and light industrial/manufacturing) on all sides , in an area which does not have a "residential feel". Vehicular access is gained solely via a "commercial "area. The property is not acceptable in accordance with the Lenders guidance." The flat has been rented to young professionals with no down time in the two years since completion so no issues with demand. The flat is a converted office block so the area is fairly industrial/commercial but there is redevelopment going on (part of the reason we bought it) with a brand new hotel on the same road and a brand new block of converted houses/flats directly opposite. Our existing broker has spoken to a few lenders that have similar lenders guidance so said it's potentially risky as they will charge a valuation fee and we might not meet the criteria so would lose on the fees. Our existing lender doesn't have any product transfer options so we would have to apply for a new mortgage. We are currently investigating this option but just wondered if anyone has experience in this area and might know a broker that could help or a lender that could be suitable? Thanks!! Sam
  4. Thanks for your reply James - this development was in the Cross Green area and after spending a bit of time on Google Street View, we decided against it Have seen a couple around the Northern Quarter and the location looks to have a bit going on but like you say, would be good to take a walk around before committing to anything. Thanks again - I might be in touch with some questions! Sam
  5. Hi all, New to the forum and trawling through all the great content. Myself and my wife are looking for buy to let properties (mainly in the areas recommended by Rob and Rob on the podcast). Leeds stands out a bit for me, I've spent a couple of nights in Leeds and like the city centre a lot so am quite keen on the area for a buy to let. We're mainly looking for new or nearly new apartments that will require (hopefully) minimal effort in terms of management. I've noticed the LS9 postcode is relatively cheap and it seems there is a lot of regeneration going on neary by with the South bank regeneration and Climate Innovation district. Biggest concern with the area is maybe it's a little too far out (approx 25 min walk to the station according to Google Maps) and possibly a bit sparse of nearby amenties until the above regeneration projects are further down the line - who knows how long that could take?? I've seen other posts mentioning that captial growth could be slow but the yield could be high in this area but we are probably more concerned with captial growth at this stage. I'm wary that the area may be a bit run down so any advice on the LS9/Cross Green area in general would be appreciated. We plan to take a trip up shortly but with limited time available would like to focus on properties in the right areas. Any advice much appreciated! Cheers Sam
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