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About lynn

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  1. I'm no expert, but the interior decoration etc looks pretty good to me. Kitchen looks modern, needs a new light. If the bathroom suite is white, there's nothing wrong with it, except maybe the basin, get some new taps and clean up the grout. Remove the lounge fire and maybe the brickwork thing. Tidy up the garden. Aren't the windows already upvc? Do the radiators need replacing?
  2. Hi, I'm about to buy a house for £118,000 which needs a little bit of work, and so with fees it will be about £128,000 altogether. I have £110,000 cash and so need to borrow £18,000. My original plan was to move in and do it up and sell on next Spring, but now I'm not sure if it will sell for enough if house prices drop in the near future. Therefore, I may have to live in it for longer until the market picks up again. My questions are: 1. Is it best to get the £18,000 by bridging loan? What if I can't sell in the bridging loan period (I may not be working by then and so not be able to get a mortgage) 2. Get a mortgage, and if so, how long would I have to stay in the property to not upset the mortgage lender? Thank you.
  3. I recently supplied my broker with my pay slips and have been given a mortgage in principle. When I apply for the Mortgage, will I have to supply my pay slips again?
  4. lynn

    Stamp Duty Query

    Thanks :-)
  5. lynn

    Stamp Duty Query

    Hi, I am about to buy my first BTL and I know I'll have to pay the higher stamp duty as I'll own more than one property. When I sell my main home and buy another main home, will I have to pay the higher stamp duty again or the lower as it's my primary residence? Thanks
  6. Thanks very much for your replies, very helpful. I'm seeing some properties tomorrow and I'm very undecided. My original plan was to buy a BTL that needed some work so I could hopefully add a bit of value. However, as it's my 1st property maybe I should be a bit more cautious and go for a property which has tenants who want to stay. Can I ask for any thoughts on these please: 1. 1970's house which needs some updating (new kitchen cupboard doors, painting, carpets), in an ok area, currently empty, would rent for £700. 2. Ex-local authority terrace in an ok area, currently rented for £750 3. Newer house (2002) in an excellent area, currently rented for £650, tenants desperate to stay.
  7. That's great, thank you. As it turned out, neither of the properties were what I was looking for, but I'm looking at a few more, some of which already have tenants in which I'm guessing is a bonus.
  8. Hi, I'm viewing a prospective buy to let next week which needs some refurbishment. My question is, how long do I have to do the refurbishment before I need to get a tenant to satisfy the mortgage lender? Is there a set time before the property has to be advertised as for rent? Thanks, Lynn
  9. Hi, Does anyone have any experience with rental properties in the North of East Anglia, North Cambs, South Lincs? Thanks.
  10. Hi, I planned to buy my first BTL with some inheritance money, and I have a list of properties to look at after lock-down. However, the houses are in an area of lower wages, so I'm worried now that I may be faced with non payers if people have lost their jobs. I'm wondering if I should use the money to flip a property instead to sell when things are more normal. Would anyone be able to advise please? Thanks
  11. Thank you for your help.
  12. Hi, Just starting out here and was thinking of buying a property within an hour or so of me just for peace of mind, but should I look further afield? I hear a lot about researching an area, schools, transport links, average wage etc, but once you have this information for several areas, how do you decide which is the best if you're not familiar with that area? Thanks, Lynn
  13. Hi, Does anyone have experience of letting their property to council/charity for social housing rental? How do you find councils/charities that need properties to rent? Thanks, Lynn
  14. Thanks very much for that, very interesting. That really helps me focus my search of properties. One last question Would you recommend buying a place with a tenant in-situ, or is this more problematic than an empty property?