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About gc

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  1. Any help would be much appreciated. I need to be clear what money comes back to me after the revaluation and paying off of initial finance. Looking at other scenarios, it isn't clear whether the initial deposit is effectively back in the pocket. Many thanks for any advice in advance!
  2. Hi all, I need some quick help to give me confidence in figures. I've drafted a scenario below, figures rounded and fictional for ease of calculating/explaining: £200,000 Purchase £50,000 Deposit £150,000 Loan £50,000 Project Costs £200,000 Total Finance Required £300,000 Revaluation 75% Buy to Let Mortgage : £225,000 £25,000 Retained after paying off Total Finance from the Remortgage. Does this also mean the deposit can be taken out of the deal or does it still remain in the property? This se
  3. Thanks @DerekT not much else of a response, but there's something for me to go on thanks.
  4. Thanks I do remember all this when I bought my own house, and makes sense now. I just had forgotten the rules on this. As I said I literally listened to Rob Dix's Property Geek podcast the day after I posted the question and it was a legal topic show and it was mentioned it on there. That would've saved me a post if only I'd had listened to it a day before!
  5. I'm trying to work out whether some deals are worthwhile. There isn't much in it as the properties I'm looking at are in East Anglia and max £175,000. value. Propeties typically need around £20,000 renovation/refurb works. Example below: £162,000 Purchase Price £282,000 Market Value (Renovated) £121,500 Loan £40,500 Deposit £162,000 Funds raised £2,000 Legal/Survey/Loan Setup Costs £25,000 Renovation Costs £189,000 TOTA
  6. When carrying out renovations, what about: Unoccupied property undergoing works insurance Public liability insurance
  7. OK great stuff, just what I needed, thanks.
  8. Is there a full list of insurances needed for buying and letting property. I understand there is landlord insurances, but how about building and contents etc. I really could do with a full list if anyone knows.
  9. Evening, Does anyone have a full list of laws and legislation that landlords are required to comply with? It would be useful to have a full concise list. Thanks in advance!
  10. Brilliant thanks. I literally listened to one of the Property Geeks podcast yesterday and he mentioned it on there!
  11. Hi Dean. Yet another request for your prized information. Would you be able to send to me please. You should probably start charging
  12. Who has been looking to invest in a BRR deal when buying now means buying high, but then by the time you come round to refinancing the house prices could have dropped. This is a bit of concern, if you're able to get purchase, renovations done and refinanced before any crash that would be ideal but when people are predicting Spring 2021, this doesn't leave much time to do such project.
  13. Interested to hear Glenn's response on this...
  14. I am also wondering the same, albeit have different project in mind. Although I'd love to do ground up, just not yet as am starting out. Currently looking into a typical BRR. However the main risk I see is being caught mid project. If I buy now while high, begin carrying out renovation works, then during this time the prices fall, my revaluation at the end of the works will then come in under what I need it to be to make any meaningful profit. Sure I may be able to get a tenant at the end of it as lending for purchasers may be different, stamp duty holiday ended, help to buy incentive chang
  15. Looking at property auction legal documents made available prior to the auction, is it a good idea to use the same solicitor as the seller, in order to possibly speed things up given tight timescales?
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