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eoin mcguigan

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About eoin mcguigan

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  1. Hi hubbers, I would love your advice. Quick background - I own one BTL and own an apartment where I live. I'm ready to buy a small home with a garden and intend to put my apt up for rent. After an extensive property search I have found a beautiful small detached period property in a nice area. Full of charm etc. The property was owned by an elderly lady who took great care of it but it does need modernisation. I hope to knock through the living room, dining room and kitchen into one and put patio doors in. It is a 2bd plus one box room btw. The
  2. Hi Stuart, thanks for the question. None of the above really. I have followed my usual channels. First I asked my usual financial advisor and he couldn't get me anything. I then went to a specialist property FA around Belfast area who pointed me in the direction of commercial finance as private finance wouldn't be possible with the three entrances. I still haven't contacted a commercial FA as yet. I have used the forum to see if I could find out anything else to help. It's also a confidence thing I suppose, this will be a big deal for me, a game changer if it happens and I want to
  3. Hi Stuart, I really appreciate you taking the time to respond. I have found it extremely helpful and it gives me a few things to work on. I might contact my solicitor and see if they could shed some light on the likelihood of splitting the titles and the potential time frame for that. I will run the Barclays option past my financial advisor and see what Barclays say. I also can research how much the bridging/cash might cost to factor that in. Thanks again for an excellent answer. I will keep you informed. Regards
  4. Hi Hubbers, i have found a great property with a great price in a good area, and I ask myself why! This property is on the market for £205K and has 1 x 2BD apt and 3 x 1BD apts. Two of the apts have their own separate entrances from the main entrance. Each apt will fetch approx £500 pcm. I have no idea how much money is needed to upgrade the property but it's mostly cosmetic so I'm guessing approximately £25K. I have spoke to a local property HMO mortgage expert who says due to no. 1 N. Ireland having less options anyway and no. 2 the property
  5. Hi Blackjackbuyer, Thanks for replying and I totally agree with everything you say. If you hear of anything, give me a buzz. Thanks Eoin
  6. Hi everyone, I have been meaning to do this for a while. I am a Belfast investor who having moved to the city this year am enthused by the dozens of cranes in the skyline that havnt been here in such numbers ever. I prefer professional new build apts in central belfast areas. I will be in the position to buy another property towards the end of the year and at the minute the north of England is the most appealing as frankly I cant find the deals here at home. I have tried to contact developers as an individual investor to get bmv deals to no avail and tr
  7. Hi, I have two properties, one I love and another I'm less enthused by and it's the second one I would love to hear what people's thoughts are? It is a beautiful 1B apartment that will rent with its eyes closed in an upcoming young professional/family area in Belfast. What's the problem. I didn't buy it BMV. I purchased furnished for £125k and uncomfortably I have a LTV of 80%. I'm currently using a repayment mortgage as I want to get to 75%LTV which I'm much happier with. I just can't see my 1B appreciating fast enough for me to comfortable release cash in the near future. I'm wondering s
  8. Hi folks, My first post. I have a decision to make. I have a long term no fuss tenant in my 2B apartment currently on a rolling month to month arrangement paying £800pcm (unchanged) in a very prime central location. I have a 110K interest only mortgage on the apartment originally bought for 168K in a fixed rate deal for approx another year. Im mad keen on releasing equity on the apartment to make my next property purchase. Looking into remortgage BTL previously the valuations I got have always been in and around the original purchase price based mostly on the rental income
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