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ellie crockett

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About ellie crockett

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  1. Hi David, yes I agree - there will always be people who want and need to rent as opposed to buying. Will be interesting to see how far the Government promotes this!
  2. Hello! I've just listened to the few latest Property Hub podcasts. R & R mentioned that the government is eager to back 95% mortgages and to encourage more people to become homeowners. If this was the case, I assume the demand for HMO's/single rooms would decrease? It would be interesting to hear other peoples take on this and what the implications for rental demand would be if homeownership does increase in the near future!
  3. Hi everyone, I'm currently doing some basic desktop research to broaden my potential investment areas Wythenshawe has caught my eye. I used to work there and walking through never put me off, despite the reputation that it has. It's really close to the hospital and the transport links seems to be strong. Does anyone have any experience investing in this area? Everytime I mention it most people always comment on it's bad reputation/high crime rates...
  4. Hello! I've been looking at the BTL rental market in Salford really, and Irlams O' Th' Heights has caught my eye. The prices seem to be decent and the rental demand seems to be there. Is it a nice area? Does anyone have any experience living there or investing in and around this area and could share their thoughts/experiences? Thank you!
  5. Hello! I've noticed a few new Built to Rent developments coming to market around the West Manchester area (like Eccles and near Trafford Park) Does this indicate that the area has a high BTL demand in that area? I'm looking to invest in BTL's in Salford area next year- so I'm aware these developments may cause some over saturation in the rental market in these areas - however I was looking to invest in properties that needed renovating to bring them up to a high standard so I'm not sure if a direct comparison to the new BtR properties can be made? Any opinions or thoughts would
  6. Hey hubbers, I'm interested in investing in a BTL in the Monton area next year - does anyone have any experience with Monton as a BTL area? or if anyone knows any property groups/facebook groups or meetups (for when we can all be in one room again!) in that area that I could join or get in contact with that would be fab Thank you!
  7. Hey Stuart, Thank you for your input, if anyone knows any surveyors who would like to divulge any more about the valuation process that would be greatly apprenticed!
  8. Hi Stuart! Say there are sufficient transactions that are within the 1/4 to 1/2 mile radius, however these properties are different in terms of number of bedrooms (mostly 3 beds rather than 2) and room sizes are slightly bigger. Will the surveyor take these previous transactions into account when valuing the property, or dismiss them? Thank you
  9. Hi guys, So I've been looking into the minimum standards for HMO's in my local area, and regarding the bathroom facilities it states; "Where there are four or less occupiers sharing bathing and toilet facilities there must be at least one bathroom with a fixed bath or shower and a toilet (which maybe situated in the bathroom" Does this mean that a 4 bed HMO can have only 1 bathroom, which includes a fixed bath/shower and toilet? As I was under the impression that most HMO's had a bathroom for every 2 occupants and so on..
  10. Hi Simon, When lenders say they would like a minimum income of say £25,000 - if someone is self employed would the gross profit need to be a minimum of £25,000- or is it £25,000 before tax/expenses?
  11. Hi Stuart, Thank you very much for your input! Regarding your point about insufficient transactions to support a valuation, if this is the case would surveyors simply widen the radius they search? or will they like you said 'fall back to something safe' and ultimately get down valued? If someone was looking for a property solely for the purpose to remortgage to pull out cash, would a lack of transactions or low transaction values possibly make it 'not worth it' - as they are unlikely to get a decent valuation? Thank you!
  12. Hi Wesley, I've been looking more into short term refurb loan products this week, and I was just wondering how quickly these sort of loans can be acquired? Are they pretty quick like bridging finance or does the application process take longer like mortgages? Any advice would be greatly appreciated!
  13. Thank you Stuart, do you know if the money that is pulled out when refinancing is taxable or not?
  14. Hi all, I was wondering if any brokers/mortgage advisers could advise me as to what criteria mortgage lenders use to determine the new value of a property when it's being re mortgaged? Any input would be greatly appreciated!
  15. Hey guys, I'm just trying to get my head around some refinancing calculations. Say the value of the property im refinancing is 200,000, and I then refinanced on a 75% LTV mortgage, would the calculations be as followed; 150,000 (New 75% LTV mortgage amount based on 200,000 valuation) - 120,000 (old mortgage) - refinancing costs = money I would be able to pull out and invest? Am I on the right lines here or have I simplified this process too much? Any advice/guidance would be greatly appreciated! Thank you
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