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Found 9 results

  1. Hi All, New to the forum and looking for some insight into what my chances may be of securing a btl mortgage in limited time, So to cut a long story short, I have purchased a flat in auction just on Friday 28/2/21, yes I know it's crazy but I haven't physically seen it. I was outbid on the actual auction, however it didn't meet the reserve so didn't sell. A week later I get a call, it's still available and being offered to me below the reserve before it's back in auction a week later, I make a lowball offer which was refused, I then offer to meet half way to the sellers asking price
  2. Looking for some advice, please. Our London (residential) house: worth 800K, 300K mortgage remaining. Two BtL properties: Manchester, worth 140K, 90K mortgage, London, worth 400K, 280K mortgage. Both rented out achieving decent yields. An inheritance coming my way means I'm considering paying off our residential mortgage (I'm 55) and either paying off one of the BtL properties or buying another BtL. I guess my question is around the idea of paying off BtL portages; smart or daft, please? Thanks in advance for any thoughts/advice or insights.
  3. Dear Hubbers, I am in need of guidance on specialist mortgages and risk - very grateful if you could take 5 mins to look at my 3x questions below. Situation Reserved an offplan city centre flat (reservation paid, no deposit paid, not exchanged contracts). B2L mortgage declined by three separate high street mortgage providers. Only 1 of 3 valuers actually conducted a survey. Reasons for rejection centred on: Development being 'too investor led; not enough owner-occupiers' Ground rent being greater than 0.1% of sales price, and Undisclosed iss
  4. Hi, I am a newbie investor currently in the goal setting stage of property investing. After attending one of the many weekends that 'a company' tries to give you an outrageously priced upsell I am thankful I have found Property Hub and Property Geek. The information provided by you guys is fantastic. I was gifted Rob D's Property Investment book last week for my birthday which I am steadily ploughing through and I have invested in Rob D's Ultimate Property Investment Toolkit. My first step is finding a good mortgage broker. I am based in Bath so any recommendations for good brokers
  5. I own two buy to let properties plus my residential home. All have mortgages secured on them. I withdrew equity from one of the BTLs (Property 1) before the stricter rental cover tests came into force in 2017. I have been able to refinance since then but choice of lenders has been greatly reduced as many won't touch it due to the large size of the loan against the monthly rent. Property 1 has a value of £375k, outstanding mortgage £246k (LTV 66%), and monthly rent £1075. It is my former home and has seen good capital growth as it is in a prime residential area, but clearly it does not yie
  6. Hi, I'm looking to release some equity in my home and use this cash as a deposit on my first buy to let mortgage but everything I've seen suggests you need to be over 55. Is this true? if not where do I start? Many Thanks
  7. Hi everyone, I have been buy to let market using mortgage for a few years. Now I have some savings and am able to look at other options. I am not sure other options, e.g. cash buy, corwdfunding, are better than my current way. I would like to know your opinions and if there are other better ways than what i know. 1. My current way - apply 80% LTV mortgage buy to let, either 2 or 5 years, rent the property out to provide me monthly income. If the property price increased, i would sell it for some capital gain income or i can keep it for even longer term hoping it will increase more.
  8. Hi all, I'm close to buying a property in Belfast, under a residential mortgage and having a family member living in the property. My plan is to come back and live in the property in the next 2/3 years, but anything could happen. The same with my family member, their circumstances could change, and they may not want to live there anymore.. so my question is has anyone done this before? And if I stayed overseas for longer than expected & my family member wanted to move.. what would be the case, could I rent to a 3rd party? It's 25% upfront with a 2.6% fixed 5 year rate on the mor
  9. I have owned and lived in my flat for 4 years with a residential mortgage. I am moving out of my flat soon and plan to rent it out. I also want to remortgage to release funds for a new BTL as i have significant equity in the flat. I have been self-employed for the last 6 months or so which means I will not be able to remortgage with a Res. mortgage. But I have also been told that I won't get a BTL mortgage unless the property is already let. Does anyone have any experience of this? Ideas of what I can do to release equity in my current circumstance? Thanks.
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