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  1. Hello! I'm Steven from London and have a dilemma I would like to share. I currently have a 1 bedroom BTL property in North London (N11), market value approx £270k. Mortgaged at 70%. I have approx £80k to invest and was thinking of doing a loft conversion to add an additional 2 bedrooms and bathroom. Cost of this should be in the region of £60k. 3 bed / 2 bath properties in the area can easily fetch £390k. My question would be: Do I go ahead with this and then release further equity at LTV 70% giving me another £80k to invest once remortgaged? Or do I use the initial £80k I have now
  2. Dear All What thoughts do you have on the percentage of flats that have been rented in a block to the number that have been bought privately? Good points / bad points? Should there be an even mix? What happens if there is a drastic leaning one way or the other, and does it matter? Also - Is there an easy way to determine the percentage split, short of asking local agents? Many thanks
  3. Hello, Grateful for some advice on the following: This year my wife and I want sell her property and buy one together. We will apply for a mortgage together. To buy what we want, I need to raise capital from my house I let out to put towards the purchase. Are the timescales of re-mortgaging my house of any concern regarding my joint application with her? Kind regards
  4. Well I’ve ruined the story in the title but I thought I would share my very strange experience I had today. Today I went to my property, which I’ve recently completed on, to measure for kitchen units, only to find that when parking my car at the rear, the bottom of the back door had a hole in it (much like it had been kicked in). However, there was barely enough room for someone to crawl under, let alone steal the boiler (which is the only thing of value in the property). However it’s a 1st floor maisonette and the stairs up to the rear door are pretty much nonexistent and look mor
  5. Hello from Hong Kong ! My names Mike, I've lived in Hong Kong for the past 20 years and invest in BTL in the Manchester area in the UK. Look forward to hearing more from the Property Hub ! Regards Mike
  6. Hi all, This may be a very stupid question, but am hoping someone might be able to point me in the right direction. I've got BTL in London that now has quite a lot of equity that I was hoping to release and reinvest in BTLs. However what with Mr Osbourne's tax relief and stamp duty changes, I'm unsure of what to do. I'm hoping to get some professional advice, but am unsure who I should speak to. Ideally I'd like to speak to someone who not only can advise on how to invest in BTLs given the recent changes (possibly via an LTD if appropriate), but also whether I should be looking at other in
  7. Hi, I have a 1 bed BTL flat in North London N11, current market value of around £280k. I am thinking of doing a loft conversion to include an additional 2 bedrooms and bathroom. Cost of renovations should be in the region of £60k. 3 bed/2 baths in the same area have gone for £400k plus. I could then remortgage at 70% LTV releasing a further £90k to then re-invest. My dilemma is do I go ahead with the renovations now or use the £80k to purchase an additional BTL property. I'm keen to grow my portfolio particularly in HMO's and have been looking at other areas of England. Any ad
  8. Hi! I was wondering if anyone had heard anything good or bad about Cutlass Court in Birmingham City Centre on Granville Street? Apparently it can be quite loud there as it is close to Broad Street. I had just heard actually that it might be dangerous there due to vagrants and drugs! Would anyone have an idea? Thanks!
  9. Nearing agreement on a sale which will be my first investment. Putting it simply the purchase price is £70,000, I have secured a BTL repayment mortgage, using £17500 deposit and borrowing £52500. Estimated rental income is £495 and my mortgage payments for the first 3 years are going to be £255 a month, after that it will revert to £300 according to current interest rates (I know this will rise). This gives me a net of £2150 or 12.2% return on cash after I have paid council tax and insurance for the year. Can anyone critique this and spot any potential problems? Thanks
  10. Hello All, A brief introduction: I am Barney, 22 years old and I work in IT as a Network Engineer. From the age of 18 my mum guided me through property flipping. I helped her flip around 6 properties until i gained enough knowledge and profit to go alone. I'm currently 3 properties down the line and really enjoying myself. I have a 10 year plan to get out of the rat race and wake up doing what I want (To run my own company and manage my portfolio). I am very grateful to have stumbled across this website after reading the book. I'm always open to learning as much as possible about prope
  11. Hi all, I am looking for a few pointers regarding mortgages and things I should be aware of when I start to meet mortgage brokers to discuss our (potentially complicated/interesting) current situation and future plans. My girlfriend and I have a mortgage on our current home of £210k, but having renovated it and built extensions etc it is now worth around £400k. We both want to start investing in property (I am an accountant and she is a property manager for a letting agent, so we earn a reasonable wage at the moment and our skills should stand us in good stead to work with property)
  12. Hi all, This is my first post so be gentle! Basically I would like to pick the forumites brains about mortgages. My scenario is that I will be changing my home to a let to buy mortgage soon, letting it, releasing some equity to either purchase a BTL investment while I rent elsewhere, or use a residential mortgage to buy a renovation and do a flip. I currently have no other property investments. Bear with me…BTL first Can I have a BTL mortgage on a new investment property, without owning a residential property outright or on a residential mortgage as i will be on a let to
  13. Hi Hubbers! I think I have asked 3 or 4 questions on The Property Hub now and I am always getting really helpful advice. I'll recap my situation... I am from London and currently living here too. I am a homeowner and I am trying to get into property investment with a friend of mine. We have looked at London - North, South, East, and West and we have decided that it is just too expensive for us. Even on the very outskirts. We have therefore decided to look further afield; in particular in the UK's second city - Birmingham. (This is actually after spending quite a long time looki
  14. Hi All, I made a comment on the BMV FB page and as a result have been offered two properties to buy in swansea. I have heard independently through an Estate Agent that he invests in south wales so thought this might be an area to investigate further. The properties are coming to me directly from a builder who is flipping them and wants to cash out quickly so he can proceed to his next project. He has offered both at 10% BMV ad suggests that the rental yield will be about 7%. But properties are a 6 hour round trip for me to view so what can I do online right now to see if this deal
  15. I have a couple of flats rented out through an letting agency in Glasgow. They recently told me new legislation means my flats must have hardwired and interlinked smoke alarms (in the living area and hall) and a heat alarm (in the kitchen) and will require CO monitors as of December 2015. Has anyone else come across this? If so, how much has it cost you to implement it?
  16. Hello all, After reading Rich Dad, Poor Dad I grew a real interest in property investment. Coming across all Rob and Rob's material helped me realise how much I want to be a part of it and how I can get from where I am now (little capital and knowledge) to having my own portfolio that will allow me to live the life I want. I am really interested in hearing from people that have worked in Joint Ventures with people they know. I have a close friend that has a building business and great connections that I am hoping will accelerate our property journey. I look forward to learning and
  17. Hi, I have been trying to source a property and a mortgage for a few years now as I have the money to put a deposit on a BTL property. It took me a very long time and a few mortgage brokers but I have now got a mortgage offer and I'm ready to place an offer on a property. However, my problem is that as I want to start investing in property ASAP I'm only 21 years old and a university student with very little earnings - only part time work while at university. My mum has agreed to have her name used on the mortgage to buy the property but I will be providing deposit and costs of gett
  18. Hi everyone, I'm an accidental landlady of 2 years - renting out my former family home after losing my husband. What I learnt during that process was what works for your own home (huge garden, complicated eco heating system and vintage kitchen) certainly does not work for a rental...finding tenants was tricky, keeping them over the cold winter months even harder. Despite that I enjoyed the income in provided, I enjoyed the management, dealing with with people and the contrast it provided to my day job (self-employed designer and brand consultant) so over those two years I decided that
  19. Dear fellow investors, Since the latest budget round, I've been reading a lot on the forums about potential ways to address the removal of tax relief. One thing that I'm seriously considerings to do is purchase all future properties (and even move existing properties, if it makes long term financial sense) through setting up a Ltd company. However, I haven't got any clarity on what the BTL market for Ltd company looks like. In almost all discussions on this topic, it is mentioned that it is difficult to get mortgage. Also, I have heard it may be difficult to sell the properties, if held
  20. There has been a buzz surrounding Peterborough for some time, following announcements of various development plans taking shape in and around the city. Peterborough, which was previously best known for having good transport links to bigger and brighter nearby cities, is undergoing a huge period of regeneration with a recent announcement made by Peterborough City Council declaring that UK and overseas investors are backing an impressive £130million regeneration plan. Read more at the BBC here; http://www.bbc.co.uk/news/uk-england-cambridgeshire-26229020 The redevelopment plan will see
  21. Hi there Looking for some Mortgage advice, please. Just bought a residential property Below Market Value through my Limited Company. I'm planning on renovating it and then renting it out, probably as a Holiday Let. I've bought it with cash but I'd like to release the cash so that I can buy more properties, so I'm planning on applying for a 75% BTL Mortgage (and because I bought it BMV and plan on carrying out some Renovation works I estimate I should be able to release most of the money I've put into it). My questions are: 1.) Do I need to have owned the property for at least 6
  22. Hi, I recently read a book called 'Rich Dad, Poor Dad' - arguably the best investment I have made in myself to date - which then lead me to read 'Property Investment for Beginners'. After reading these books, I have immediately started saving to make my first property investment. It seems logical to make my first investment more about 'learning the trade' as opposed to making huge and/or immediate returns, with the intention to increase my appetite for risk in line with the more experience I have (open to arguments for/against this idea). Firstly, what literature, websites o
  23. Hello I am at this point considering all options for getting into property. I have come in to a little bit of money and am hoping that property is the right choice. I would like to get into BTL and i am looking around the areas where the Crossrail 1 and 2 will be but i am also open to other areas. I am a freelance Graphic Designer by trade. London Life is difficult in terms of cost of living so i am trying to make best use of my money and time to change my life a little. Property is one of those first steps. I live in Woolwich at the moment. I did want to buy in the Woolwich Royal
  24. Hi all, As you can see from my profile I have been actively managing property renovations/conversions full time for the past three years with my brother. We're now considering investing some capital into BTL properties in the North West for capital growth, using equity to further purchase. We've heard many strategies around releasing equity for further purchases, but haven't manage to find anybody with first hand experience and with the contacts to make it happen. If you have first hand experience it really would be great to hear from you. Alternatively, if you've similar experiences to da
  25. First time poster here! I have just completed the purchase of my first property with my close friend and his Brother (we have drawn up a trust agreement!). We got hold of a great 3 bedroom house in Guildford within walking distance to town centre and Univercity. We didn't quite have enough cash to attain a BTL mortgage, but we have raised around 18% for our deposit. The plan is to live in the house for 2 years on a repayment mortgage and get up to 25% ownership. We will then move out and rent it out as a 4 bed (thanks to the extra reception room). So during these two years... as well as put
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