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  • Location
  • Areas I invest in
    Leeds, Scotland
  • About me
    Hi! I am from the Scottish highlands and currently living in London.
    I have a great passion for property and keen to grow our portfolio. My partner and I purchased a property which is run as a holiday rental company. We also have a standard BTL in Leeds. We are ready to purchase our third property this year.
    I am very keen to explore flips as our next step.
  • Property investment interests
    We have a serviced apartment in the Scottish Highlands and a standard BTL in Leeds.
    We are ready to invest in our third property this year and very interested in flips.
  • My goals
    My strategy is to buy one property a year and currently have 2 properties.

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Kylelockhart's Achievements

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  1. Hey! Looking for any recommendations for mortgage brokers who can help advise on my next steps. At the moment I feel a bit lost researching online and previous brokers I have used dont specialise in this area. My partner and I live in London and have two rental properties, a residential let in Leeds and a holiday let in Scotland. The property in Leeds was our home and we have a Consent to Let on this property for 2 years, however the product ends in December. This property has a LTV of around 50%, so we are looking to take out equity to build our portfolio. I am looking for a broker who can advise products with flexability for the Leeds property. I would like a broker who has experience with buying Limited company, should this be the best way forward for us. Any recommednations should be much appreciated, Kyle
  2. Hi Mara I am interested to see how you got on with your purchase or are you still on this journey?
  3. HI Hubbers I remember there used to be networking events across the country in lots of locations which stopped over a year ago. I wonder if anyone knows of any virtual meet ups , networking opportunities or even Whatsapp groups? I am London based Thanks
  4. Hi Ivan This looks like an old post but wondered if you had any luck with this? I managed to secure my first property last year and i manage it remotely. I manage the reservations, online marketing and guest relations and I have someone who does change overs at the site location. I had to get a Holiday Let mortgage as opposed to a standard BTL mortgage too. Good luck!
  5. Hi Hugh I see this is a fairly old post, but interested to see how you got on with this ? I think Oban has a growing dempand for HMO properties due to the growing student population. I often see posts on Facebook from students looking for accommodation.
  6. Hi there - this looks like a fairly old post now, but if it helps others I have a property in Leeds CC and use Martin & Co - highly recommend.
  7. Hey - This post looks a little old, but wondered if the Whatsapp group ever took off?
  8. So helpful - thank you! Our current product ends in January 22, if we exit from the product now there is a ERC fee of around £1600. If we go ahead and let the property out with a consent to let and then lets say in July we go ahead with a BTL & Capital raising (Taking the ERC Fee hit) is this something you can help me with through ALLTO?
  9. Thank you @Stuart Phillips I spoke to my lender today, they are happy to consent to let our home if we relocate. However, they have advised we would be unable to proceed with the additional borrowing as this property has to be our main residence. Our current mortgage (our home) has a LTV of 46% - we were hoping to increase this to 80% and release £85k. A little disappointed as we were hoping to proceed with another BTL purchase this year. Do you know if we have any other options to for taking a sum out of this property?
  10. Hi - Looking for some help and advice please. Here is my current situation: We are living in Leeds in a property we have a mortgage on We are currently in the process of making an application to our lender to for additional lending on this property as we have a significant amount of equity and will use this to put into a holiday rental property I currently have a mortgage on a property for holiday rentals (With a Holiday Let mortgage) My partner has been offered a promotion in London for 12 months, his company will pay for all London accommodation and expenses including a pay rise. Ideally, we'd like to continue to borrow more on our property in Leeds to buy our next rental property. However, as we will be moving from Leeds, we will likely have to rent this property for the 12 months we're in London, or sell it. My question is, if we rent our property in Leeds, can we still proceed with our plan of buying another rental property? Sorry if this is not very clear, happy to clarify any points - any advice would be grateful!
  11. Hi Cameron, Welcome to the forum and the world of investing... I am also new -ish to the world of investing having just bought our first BTL property in Oban and looking to buy another one, maybe 2 this year. Last year, I sold my home property in Kelvinside (Glasgow West), we bought it at a good price, did a fair amount of work and sold within a 1.5 year when our jobs meant we had to relocate away from Glasgow. We made a healthy return allowing us to now invest in BTL property. I think the Southside of Glasgow is a very good place to look, i too had a look at the Southside to invest as it's affordable and good rental returns. I also think property prices are set to increase in these areas with the amount of investment. I also think there is an opportunity to invest around the new River Clyde bridge as it will connect Renfrew and Yoker - affordable area with easy access to the city. Hopefully, property prices will increase too. http://renfrewshire.gov.uk/article/2092/Clyde-Waterfront-and-Renfrew-Riverside For my investment and home purchases, I use Jade at Dupont Associates, based in Glasgow city centre. I cannot recommend enough! They are very reasonably priced, great advice and I always have access to Jade directly. I have asked Jade for advice out with the transaction, and she is always happy to spend time on the phone to me (unlike some Solicitors who will start the clock when you call and then send you an invoice for the 15 min call). For my BTL i used Carole at Cox & Co broker in Edinburgh https://coxandco.co/mortgages/ Best of Luck!
  12. Hello - Thank you so much for the reply. Yes they have offered further advance of £75k and on either mortgage type. I think you have helped me with this, it does make logical sense to keep in line. thanks again
  13. Hey - trying to get my head around mortgages and looking for help/advice please. last year, my partner and I bought our first BTL property (for serviced accommodation). We are now looking to buy our next. We currently have £105k of equity within our home property and are looking to release some of this (home property has a interest and repayment mortgage). After speaking to our lender today, we can release up to £75k by additional borrowing , so we will have two products on the one property.The current mortgage product ends in Jan 2022, so if we choose to exit and remortgage now it will cost ERC £1700. On the call with my lender today, I was asked if I want the additional borrowing is to be repayment or interest only. For some reason, I cannot get my head around this. Should this new loan also be repayment as its tied into my home? The current mortgage term ends in Jan 2022. Sorry if it’s a stupid question, I just can’t get my head around this. thanks
  14. Hello I am looking to purchase a property for short term let’s (week to week). I know people who do this on a standard BTL mortgage. However, I suspect they are likely breaching their mortgage terms. Holiday let mortgage lenders are really limited and seem to have lots of conditions attached. Naive question, however, would a BTL lender take action if they found out I was doing short term letting and how would they find out in first place? I am working with a broker to secure the correct mortgage, but I am curious to understand how others are able to do this on a standard BTL. Thanks
  15. Quick numbers here based on buying cash. Property is a 1 bedroom flat which requires new kitchen and shower room. Be grateful to know whether I am deluded here or not . The most recent sales for similar properties on this street are around £95k. (Note in Scotland the seller pays for the survey before the property can go on the market, hence the £1000 fee included). Purchase: £42,000 Legals (Purchase and Sale) £2,000 Estate Agent Selling Fees: £1,500 Scotland Home Survey £1,000 Refurb Costs £15,000 Total investment: £63,180 Sale: £95,000 Pre Tax Profit: £31,820
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