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  1. Guest

    Fresh in the game

    Hello Everybody I am new to the game , i will be focusing on family lets , in west midlands , i am hoping to find my first property investment this year , open to all advice and suggestion , Brighton
  2. Hi I was wondering if anyone could help me with a mortgage. I have a limited company where the primary SIC code is dealing in finance and insurance (66220). I would like to purchase a property through the use of a BTL mortgage through my company but I am struggling to find a provider where I meet their lending criteria. They deem that my limited company is not suitable to lend to due to my SIC original activities. In a way to get round this I added the SIC code 68209 to my firm but they don’t seem to be buying this and are asking that I set up a separate SPV firm. I do not really want to
  3. Hello I have decided to start a new chapter in my life and leave the day job behind by focusing on BTL investments in the North servicing the student market. I am looking for 10% gross return and ideally 20% on capital. I have spent the past month researching and have just started looking at target properties in the past week and have put my first two offer in. I am aiming to buy 6 properties in the next 18 months and I am looking to connect with fellow investors to share experience good and bad as I develop my portfolio. I will eventually set up a company but right now I
  4. Hi all, Looking at two developments up north where the developers are asking for 25% and 35% deposit respectively. Is this standard for a development? Lawyers have said developers shouldn't require more than 10%... Pretty much everything I'm seeing on the market is 25%+ however. Sincerely, Confused member
  5. Hi Everbody, My name is Adam and I'm based in Herts. Keen to get into property after a lifelong yearning has finally got the better of me. Hoping to sell my house, release some equity and then get into buy to let and rennovation. I'm 35 years old and currently work in Pharma. Many things to consider like, "where I am going to live while I do this????" Minor details, I'll worry about those later! I work in project management so like to stay organised and I have a friend who recently inherited some money so I may look at some projects with her. Currently at th
  6. Hi All, Just wondered if anyone could give me a little advice/point me in the right direction - thanks in advance! I'm 18 and looking to invest in my first BTL single let property. My father has agreed to allow me to raise finance on our family home, which means I can be a cash buyer. After a refurbishment, 6 months later I'd hope to refinance at a higher value with 75% LTV in order to repay the mortgage/bridging loan on our family home. Any surplus, I suspect around 10-15K, would be paid off with my own funds so I was the sole owner. Couple of compli
  7. My own home has been on the market for a while. If it sells before March then I shall have around £40k available to spend when it’s sold so looking for houses around £120k, which opens up around Manchester for me. If if it doesn’t sell, I can remortgage in March and have around £17-18k available to spend, which would mean looking for a house that needs a bit of work but in an area with good growth potential for about £45k, so I have money left for fees, refurb, etc. In terms of yield, I need enough to ensure that on a 75% mortgage I can stress test to 8% interest and not be out of
  8. Afternoon all, I am new to this site and wanted to introduce myself. I am a self employed "whole of market" mortgage broker. Specialise in residential and BTL mortgages. I have nearly 10 years experience in the finance sector and nearly 4 years experience in the Mortgage Industry.
  9. Hi I've done a couple of BTLs over the past 20 years, but I'm not looking at doing HMOs. I have been working in the mobile and venture capital industries, but am now looking to do property. I'm actively looking for run down houses within an hour of where I live in North West London, where I could add a loft conversion and/or an extension and convert to a 6 or 7 bedroom HMO. Looking to spend between £200,000 and £350,000 on a purchase. I have been looking at Maidenhead, Slough, West Drayton, Hayes; Bedford, Northampton, Hatfield, Hemel Hempstead, St Albans ar
  10. Hi all, I am 40 years old and have lived in Liverpool for the majority of my life and know the city and surrounding areas reasonably well, and hold one property in my own name and one in a Ltd company, typical BTL's. I offer a service where I can view selected properties in Liverpool and/or the North West area for any investors both abroad and UK wide providing plenty of photos and information of the property which you wouldn't necessarily find in the standard brochure and local knowledge about the surrounding areas from someone who knows the area, for investors who for
  11. We applied for our first BTL mortgage through our Ltd Company last year and were not entirely surprised that it was insisted that the directors of the company were personal guarantors... But will this be the case forever? I have several questions: 1) Is this normal? 2) At what point will a lender lend to a Ltd Company without the requirement for guarantors? Do they start to take into account the portfolio? Capital in the bank? Previous BTLs? Thanks for taking the time to answer, Jordan
  12. Hello Everyone, I am currently looking to purchase a few BTL properties and aim to add more of them up over period of time (long term) As I am putting everything together in place I would like to find some professionals that can help me to get the best out of my money. I am currently looking for a good BTL broker that can recommend the best deals in regard to mortgages as a ltd company. I am based in London but can deal with someone based somewhere else in the UK if they are highly recommend. I also need a company that can advise on getting my properties to work as best
  13. Good Morning, Hope anyone reading this had a great Christmas. I have recently seen a large property with 10 bedrooms plus, with a C2 planning classification and is classed as a commercial property. I have the following questions if I was to purchase this property and convert to 3, 2 bed apartments which will rented once complete. 1. Is it an easy exercise to change a C2 class to a C3 class? 2. If the aim is to turn the property to 3, 2 bed flats, how should the property be purchased. ie a) under a resi mortgage thus only needing 10% deposit and
  14. Hello all, Hope you are all well :-) I was hoping to discuss some of the points below with you to gather your thoughts. I am a bit of a novice in property business so am trying to be a little careful with the pot of cash I have for my 1st project. I am in a full time professional job but after decades of working for others am planning to take some time off (as long as needed) to have a go in the property area. I have set up a limited company and have a mortage in princple (for BTL) but not sure whether to make a move now or wait for the rig
  15. Hello to all, I'm Iain Large, Along with my business partner in Dubai, we have two 3 bed's and one 9 bed HMO in Chelmsford (our preferred area of interest) through Connection Investments Limited formed in 2013 when we decided to start investing together again after a lucky previous exit in 2008! Having let the business tick away for the last 5 years it's now full speed ahead! With space to build a couple of two beds in Chelmsford on different sites we formed Connection Construction Limited with a builder we've known for many years. Under our Co
  16. Barclays is now taking buy-to-let applications from first-time buyers and non-owner occupiers. The changes mean customers no longer need to own a residential property when buying or remortgaging a buy-to-let property with the lender. This is pretty good, had a lot of clients come to me requesting a BTL but do not own a residential, very difficult to place, especially for FTB. I doubt it will be a walk in the park with a high street lender such as Barclays but always good to see competition between lenders.
  17. Hello there, I almost feel stuck and not to sure what to do but I will try and be as clear as possible. We are currently waiting for council to buy our property in london as they are currently renovating the local area (hoping to get about £350-£370k). When i say we that is my parents and i. The property we currently live in is under both my parents name and at this present time they do not earn any money and i am covering all outgoings. They have approx 29000 left to pay on a mortgage. I am at the age of 24 and a mortgage shouldn't be a problem in regards to age but pos
  18. Hi all, My current situation is as follows: Good salary in job I've held for over 8 years. 1 residential Property - letting spare room 1 Holiday Let 2 Single lets All in my own name 'Excellent' credit rating according to Clearscore although on the lower end of excellent (480/700). I was marked down for not having a credit card, I do but I've had it so long it doesn't register with Equifax :/ £60k unsecured debt (All from a recent Car PCP) paying down at £600pcm £30k in cash for property deposit N
  19. Hi, My name is Matt and i'm very new to property investment with all manner of questions and confusions... But very interested and excited about the future of property investment. I am a home owner with equity tied up in my residential home that i would like to use to start my investment portfolio. Would love to hear anyones advice on getting started in the property investment world. Matt
  20. Hello Everyone... Probably like a number of people out there in the BTL market feeling a little beaten up by the odds that keep getting stacked against us and wondering whats next and is BTL still a credible way to forge a pension. That sounds negative I know, so I've been listening to lots of the pod casts and giving my head a wobble.... I need to create a clear strategy to achieve the goal.
  21. Hi everyone, my name is Alistair and I am new to the world of property investment. Myself and 2 of my long term friends are planning to club some money together to buy our first couple of buy to let investment properties early 2018. We live in Dorset and are have decided to invest in the north, looking to buy and hold for the long term. All three of us have young kids and busy lives so we intend to be as hands off as possible with the goal of being able to retire from our current 9-5 jobs at the age of 55. The idea of going in together rather than individually is to increase our buying power a
  22. Hi guys, I am about to complete on my second Buy-To-Let property. However due to complications with my credit score I had to buy the property in cash with the plan to then later refinance, setting up a BTL mortgage, through my LTD Company which I opened a few months ago. As this is the first time I have bought a property in cash and will be the first BTL through my LTD Company (because the first was before the tax changes) I am looking for advice/re-asurance on how to complete the purchase correctly? At the moment the funds for the property purchase are split 50/50 betw
  23. Buy to Let Fixed Rate Mortgage (65% LTV) Current rate Term 2.95% Fixed rate to 31.01.28 Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74% Overall cost for comparison 3.7% APRC Fees/incentives Application fee: None Product fee: £1,999 (can be added to mortgage) Mortgage exit fee: £125 Funds transfer fee: £8 One standard valuation included for pr
  24. LendInvest is launching a range of buy-to-let loans aimed at professional landlords and investors. The specialist lender, which to now has focused on bridging and development loans, says these new BTL mortgages will be “competitively priced” and include two-, three- and five-year fixes. Rates start at 3.69 per cent for a two-year fix at 60 per cent LTV. The firm will offer loans of between £50,000 and £5m, up to a maximum LTV of 80 per cent. “Offering BTL loans is a critical strategic step that not only serves to addresses a funding shortage, but takes us close to our l
  25. Hello all, I have a situation and some questions that hopefully I can get answered. Situation: I have sourced a property that has a tenant in situ and at the purchase price I can get it for it would achieve roughly a 10.5% yield. In order to purchase this property I would need around £10,000. It is being purchased slightly under market value and it does not need any renovation costs. The property is off market currently and is in the north west. I am fairly new to property investing so any advice on the below would be massively appreciated. Questions: What are the different way
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