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horne-properties

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About horne-properties

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  • Areas I invest in
    manchester

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  1. we are going through the same process now, we are in the final stages of remortgaging and was told last week we need to find a property to complete along with property details, new mortgage details, and rent prices from an estate agent. before funds will land. we viewed 4 properties Thursday and offered on them all some at list price some just under with tenants in situ but haven't heard anything back yet, due to the demand in my area I have seen prices go £15k more then listed so its going to be a challenge that's for sure
  2. hi David well both really 50/50 shareholder and director, I am just trying to find out if this would complicate anything with lending ?
  3. hi everyone I set up my Ltd Co in early 2020 currently have 1 btl, I want to add my younger sibling as 50/50 director my question is would lenders still be willing to lend because of his age and if so would rates be higher etc ? I would say he's got a very healthy bank account for someone of that age secure job/income, credit rating isn't to bad. just thought id ask for some advice on here before making any further decisions any help would be great full
  4. hi stuart if they didn't extend again do you think its a case of full mortgage application again? I was told if they was to give a further extension I might need new valuation ect like you say.
  5. hi everyone I am purchasing a btl, to get to the point the lender give 3months to complete we wasn't able to due to a delay on the vendors behalf. the lender granted a extension unto the valuation ends 1 month which is due to end next week, solicitors has requested for mortgage funds completion date was set but due to issues in the chain its now not going to happen we did ask for chain slit but vendor can't do so. I have ask Solicitors to ask for a second extension. has anyone ever been in a similar situation/any advice would be helpful thanks
  6. seems achievable, I am not 100% but as long as its got 2 Points of access and egress and over 7m2 should be fine. I would check with the freeholder first before starting any works if its leasehold. also would it be worth losing good tenants for the extra rent. best of luck with it though.
  7. thank you for all you advice everyone so the day I wrote this I actually had an offer accepted a few hours after haha, I am really happy with the property and deal
  8. hi people I have been looking at buying vanilla BTL's for the last 12 months in the Manchester area but really struggling to get a deal done. people are bidding £10k-£15k more than the asking price, houses have been selling in less than 24hrs crazy house prices are around £150k rent £750 so I would be leaving around £45k - £50k in the deal I won't go into to much details but my strategy is to buy and hold long term 2-4 houses over the next 12-18 months through my ltd co and learn new strategies as I go on I don't plan on leaving my job anytime soon or taking any money o
  9. hi, I am a newbie from Manchester, also looking to invest in these areas, would be interesting to hear you journey. Liam
  10. hi, yeah I think its more learning as I go on and getting the experience I am 25 now so I have a fair bit of time to learn
  11. hi Julia thanks for your in put gives a lot more understanding, prioitise the first 2 then see how it goes
  12. hi everyone I just wanted other peoples opinions on this slow and steady approach to investing these funds, £225,000 to buy 5 properties that are around 6% yield they cash flow around £250pcm each property after all expenses , Mortgage ,maintenance, management ect, so £1,250pcm in total, I won't have full access to all funds till later in the year, my plan is to purchase 2btl's in 2021 with the funds available now, then having the rest of the funds purchase another 3btl's in 2022, then go on to purchasing 1 every year, I don't intend on taking any capital out for a long time. am I
  13. hi Julia, the house's I have been to view have needed light refurbishment, new kitchen, bathroom general modernising through out, so I think the best strategy would be to brrr, as long as I am pulling a decent amount of money out of the deal I will be happy, I have also been looking at standard btl properties, I think I will use both these strategies. any advise would be much appreciated.
  14. hi people, I intend on doing single btl long term, I have noticed a lot of houses that aren't mortgageable so i would have to consider using bridging finance. I would like to find out about bridging finance or bridge to let ? what are peoples views ? 1, is bridge to let still available ? 2, pros and cons of using bridging or bridge to let ? thanks in advance
  15. hi guys, I have a starling business bank account and also Barclays business bank account, I am unsure on which to is best to use for mortgages / direct debits ect ? any help would be great thanks Liam
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