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Ray Mondo

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About Ray Mondo

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  1. Hi guys I'm looking for a bit of advice. I've got the funds together to start my buy-to-let journey, but I'm wondering if this is a bad time to be getting into the market, with the eviction ban hanging over our heads. In an ideal world, I'd like to get a property on a bridging loan, with a view to making some improvements and moving onto a BTL mortgage before getting a tenant in. My concern is one that I imagine I share with many people, in that I could end up with my first tenant in my first property refusing to cough up rent, and I'm then stuck with a property that is losing me money ea
  2. Perfect. That's exactly the answer I was hoping for. Thank you for your help + quick reply!
  3. Hi I'm looking at opening a limited company SPV for property. I don't currently own any properties other than my own residential property. My question is - as I don't already own any investment property, and neither does the company, would this impact the ability of the company to take out mortgages? Also, would it impact the LTV that I will be able to achieve due to the company not currently owning any assets? I'd like to be able to achieve 75% LTV, which I know is achievable, but I'm not sure it's achievable if the company does not have a history of buying property behind it, if
  4. Hi guys Can anybody please recommend a good BTL Mortgage advisor that they like to use? I'm looking to remortgage a couple of properties and want someone honest and reliable. I'd prefer a company than a one man band who does a bit of mortgage advising now and then, which is mainly what I've seen when searching on here. Cheers in advance.
  5. Thank you for your reply Ollie. I've actually spoken to my mortgage advisor today and it doesn't seem feasible. I'm actually a contractor who works via a limited company, and he is saying that as we would need to go for to contractor lenders, who will only offer an 85% LTV. I personally was under the impression that if you were self employed, you could go to any mortgage lender as long as you have two years books.
  6. I'm currently on a two year fixed rate mortgage with my primary residence. We bought the property just under two years ago, so we are due to potentially remortgage in November. What I am considering doing is having a new kitchen and bathroom installed, as the ones we currently have are fairly dated (probably from when the house was built). We bought the house in November 2016 for £132,500, and I know that next door (the one attached to us as we are semi-detached) sold, in May of this year, for £141,000, and it sold quickly with a lot of interest. I've been reading a lot recen
  7. Alright guys. I'm just looking for a little bit of advice on what could potentially be a complicated matter. Basically, my sister owns a couple of investment properties that she wants to gift to me. The properties are on interest only buy to let mortgages and are all occupied by tenants. From what I've read, gifting rental properties is possible and it didnt seem like it is much hassle, but after speaking to some people I've been a bit discouraged. My understanding was that it is possible to gift the property and the mortgage as BTL mortgages are based more on the potential return
  8. I've been thinking about this for a while but never got round to asking about it. If I wanted to buy a new home and switch the mortgage on my current home to a buy to let, what do I have to consider? Would I need to have the 25% deposit to get the buy to let mortgage on my current house? Is equity within the current property considered? I have a very basic understanding of buy to let mortgages and am just learning, so any advice at all would be great.
  9. How much capital did you start with? I'd be interested to know how much capital people started off with and how long it took you to save it. I'm currently saving for my first investment and it seems a million miles away, so I'm hoping for some figures that will make me feel a bit better right now!
  10. Hi Vicky, I'm already a subscriber! I received the first issue a few months ago. Not sure when the second one is due though
  11. I'm curious to know what people read to learn about/keep up to date with the property market and its goings on. Are there certain newspapers or websites that you go to? I'm not thinking about books here so much. I'm thinking more current. I've tried reading property sections of newspapers, but as someone who is fairly new to this, it can be a bit off putting, as these types of articles usually assume quite a bit of knowledge.
  12. Hi everyone, first time posting here. Hopefully be the first of many. I've wanted to get into the buy to let market for a long time. One thing that has always seemed like an impossible task though is the usual 25% deposit. I was wondering if there are any other ways that people have achieved purchasing their first property without having to get a 25% deposit together? I am in the process of saving at the minute, but any help that might speed up the process would be great. Thanks
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