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  1. Hi I’ve been reading up about mortgage brokers, how some specialise in residential mortgages and others in buy-to-let, and how you should choose the right broker depending on what kind of mortgage you want to take out. I’m looking at remortgaging my residential property so that I can get a buy-to-let. I don’t know whether to go with a residential mortgage broker or one who specialises in buy-to-let. The process involves 2 mortgages (my residential and my eventual buy-to-let). Any suggestions?
  2. Hello All, Just a quick intro - I'm EJ, I still feel like a property newbie, I'm originally from London but recently located to Nottingham. After purchasing my first property in January and working with an upcoming investor to do the same thing within Nottingham, I've decided to embark on exploring more and starting my property sourcing journey in HMO's and Buy-to-lets. The last couple of weeks have all been a little crazy as I've been working with a property coach and things have been moving fast but all in the right direction so far. I'm still new to the Midlands so would be lovely to connect with some of you and maybe even work with some people in the future. Feel free to follow my journey on Instagram too and say 'Hi' - @ej.demontagueproperty That's me for now, have a lovely evening.
  3. Hi All, Attention all residential buy-to-let property investors! I am currently completing dissertation on how residential buy-to-let property investors adapting to the recent tax changes to industry. If you are a residential buy-to-let investor, keen to hear from you on your thoughts and opinions in support of the dissertation. Please like and share survey to those of interest in your network so as many responses can be generated in support of my MSc Dissertation thesis. https://www.surveymonkey.co.uk/r/BRDKQK7 Kind regards, Simon MSc Building Surveying Post Graduate London South Bank University.
  4. As you may know, when buying a property in an SPV Limited Company, the directors and shareholders are frequently required to sign personal guarantees. The personal guarantee requirement is compulsory, except in exceptional cases where the Loan to Value (LTV) is very low. A personal guarantee is a backstop - if the asset depreciates or missed payments. The lender has the equity (minimum 15% Deposit) as a safety buffer first. After that, they will ask you to repay any losses personally. In recent times the buy-to-let mortgage market has seen a significant switch in how landlords buy properties. An increased amount of corporation. Landlords are now, in more significant numbers, forming Limited Company's to buy and rent out properties. The companies are typically new, perhaps a day old. Have no income or assets! So how can the company get a mortgage? Mortgage lenders ask for a Personal Guarantee. A personal guarantee gets around the "limited liability" an LTD Company typically offers and puts you, the shareholder/director, on the line for the debt. Most mainstream mortgage lenders require a personal guarantee. Though not all! A personal guarantee, as above, aim to limit the lender's liability and risk. Obtaining a buy-to-let mortgage without a personal guarantee is possible If purchased at Low Loan to Value (LTV). As a general rule, the few lenders that offer this, are looking at 50% Loan to Value (LTV). With equity of up to 50% of the property value, the lenders feel secure that they will get their funds back in the event of a default. The reason for such substantial equity required it to allow them to add any missed mortgage payments, fines and allow for housing price fluctuations or damage to the asset. You ask a lender to take a risk by lending you the money but requesting not to give those same guarantees personally. As you imagine is not looked upon lightly. You will get better mortgage rates by going with the lenders that require a personal guarantee. That is the route I'd take. Though the corporatisation of there property portfolio, many feel like an opportunity. That they may sell there stake in the company and with no personal guarantees. Can walk away without any risk and not requiring the new owners to refinance. TL;DR: YOU CAN GET LIMITED COMPANY BUY-TO-LET MORTGAGES IN SPV WITHOUT A PERSONAL GUARANTEE AT BUT ONLY AT 50% LTV, AND YOU PAY A PREMIUM ON THE RATE. Source: Bespoke Finance - No PGs.
  5. Hi there, we are looking to purchase a buy-to-let in Glasgow. My partner is from there and his sons live there. We have a few buy-to-lets in Nottingham, but our broker does not understand the Scottish system and the lenders he uses with don't work with freehold flats - this is much more common in Scotland than it is down south where flats tend to be leasehold. Can anyone recommend a broker in Glasgow? Thanks in advance, any help would be much appreciated.
  6. Hi All, Hoping for some advice, and also hoping my ramblings make sense! Current Situation - My Dad and I are 50/50 owners of a flat with a very small remaining mortgage. Property is worth c£170k Hopeful Situation - Looking at the possibility of me purchasing Dad's half of the property by taking out a new mortgage (Buy to let or other), releasing some of equity for 2 purposes 1) for Dad to enjoy retirement etc and 2) allowing me to use the equity for a deposit for my own house. The intent is to have Dad remain in the flat as a tenant to me, paying below market rent but enough to cover the new mortgage on the flat. Timeline 1) Transfer dad's half to me and my wife, raising an Interest only mortgage c70% LTV to do so... 2) use the money raised to pay Dad and leave enough for a deposit on a residential house.. 3) Look to buy a home for me and my wife on a residential mortgage The question - is this possible? Financially it is viable as both myself and my wife earn well enough however I am not sure on the specific's in terms of if I can have a buy-to-let mortgage as my only mortgage, or if there are issues with renting the property to a relative etc. Thanks for reading and I hope it makes sense! any assistance / advice is greatly appreciated.
  7. Hi All, I'm using ROI, amongst other metrics, to determine if it's worth investing in a given buy-to-let property or not. However, I'm struggling with a couple of things, which are related, and as a newbie, I'd love your input on them. I see most of the people using ROI, and even many calculators online or spreadsheet, don't include capital growth in their ROI calculations. I'm not sure I understand why they wouldn't include capital growth in their calculations. Yes, it's impossible to predict, but on average it's fair to say you could use a 3.5% capital growth in your calculation. Do you include capital growth/appreciation in your ROI calculations? Do you use any formula in particular? I've seen various posts where people say the expected ROI depends on many factors, both personal and the specific property. I agree with that. But at the same time, I've read posts online of people saying that they wouldn't even touch a simple buy-to-let deal if the ROI is not at least 10% (I've seen a person going as high as 20%). Based on my research, achieving an ROI of 10% is almost impossible with a standard buy-to-let. Definitely highly unlikely. Am I missing something here? Are they maybe including capital growth in their calculations, hence making the 10% (and even 20%) realistic? Cheers, Sacha
  8. Hi all, I am contemplating my first buy-to-let investment and I am wondering if I should be targeting a city flat to or a bigger 3 to 4 bedroom family home with garden. I am thinking about investing in Birmingham or one of the other midlands or northern investment areas recommended by Property Hub. Which property type would you chose and why? Thank you. Barry.
  9. Hi, new to the exciting world of property. We have set a company up but need some adcice on accountants and brokers any suggestions are welcome! Thanks in advance!
  10. 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 long-term ambition of becoming a leading whole-of-market mortgage lender.” Just looked on their website and “There is no limit on the number of properties held or mortgaged by a portfolio landlord with other lenders. Properties owned abroad will not be included within the portfolio calculations.” Great news for portfolio landlords who would like more options. Wanted a detailed quote based on your circumstances: Neil@assuredfunding.co.uk
  11. Close family member passed away 4yrs ago and left myself and a sibling the property in the Will. In the Will there was a covenant that stipulated the deceased's partner could remain living in the property until their death/left of their own free will or met someone else. I would like to raise a small deposit somehow on this property left to me and a sibling. All parties are in agreement but how do we do it ?
  12. Hi, I though i would put the feelers out and connect with local investors and see how we are faring. If like me you could talk property all day but struggle to find someone as enthusiastic then drop me a email/message. Thanks Greg Ashall greg_ashall@yahoo.com
  13. Hi everyone, I live in London and the rent I pay at the moment is much lower than the mortgage I would pay to buy the same kind of property here (like 40% cheaper). So, I'm thinking to invest my money in a buy-to-let somewhere else and keep renting in London. But I cannot find enough information online to understand if it's a good idea: Will lenders allow me to do buy-to-let as a first investment? Will I lose the the ability of using only the 10% deposit when I will buy my own house in the future? How will the Stamp Duty work? Will I pay less in the first buy-to-let and more in the future own home? Thanks in advance for any help!
  14. Hi everyone, I would be hugely grateful for some advice about the desirability of certain Nottingham areas, as I am looking to invest max. 100k in my first buy-to-let property. There seem to be some good deals in Hyson Green, but does anyone know what the rental market is like there? Do students avoid it? Similarly, are there parts of Forest Field and Basford that you'd recommend as being more appealing than others? Huge thanks to anyone who can give advice on these. Cheers, Kat
  15. Hi guys, I am new here (and in the property business) - in fact I am a bloody rookie. I did read a book, and listened to many episodes of the Property Hub podcast but they always emphasize how important it is to have good connections. So here I am looking for exactly these! As we are expats in Germany we are looking for a specialist in mortgage and also a letting agency who can provide us with profound help. The perks of being a flight attendant also allow us to fly into the UK for a brief visit and introduction but we need to otherwise be quite hands off. If anyone here is in the Manchester, Birmingham or Nottingham area and knows someone, just leave me a message and Ill get back to you as soon as my jetlag will allow it. Cheers, Christina
  16. Hi guys I will be needing the services of a company to manage a future property in Glasgow. Does anyone have experience with any of the companies there and who I should contact (and also those I should avoid). Much appreciated! Cheers, Andy
  17. Hi guys. While I have an Irish passport and am often in the UK for work, I live mostly in sunny South Africa. I have a couple buy-to-let properties in South Africa already, but very keen to start growing my UK portfolio (Edinburgh and Glasgow to be more specific). I have a UK bank account and I will have the 25% deposit required for the buy-to-let property. My concern is more about getting the mortgage for the remaining 75% without UK payslips, not being on the electoral roll, no national insurance number, etc. I was looking at a few options and would love some feedback on these ideas: OPTION A: - Move to the UK (for roughly a year in total). - Purchase a property with my 25% deposit soon after arriving. - Use bridging finance for the remaining 75% (from what I gather they are more lenient with not having payslips, although I realise the interest rates would be higher but it would be temporary) - Live in the property for 6 month while working in the UK (getting payslips) and renovating. - Remortgage the property as a buy-to-let (only possible after 6 month of owning the property as far as I'm aware, and by then I'll be able to apply with 6 months payslips). - Have a management company source tenants and manage the property while I'm back in South Africa. OPTION B: - Find a lender that will help me as someone living abroad and purchase the property with a buy-to-let mortage (concern is difficulty and high interest rates from these types of lenders). - Use a management company to source tenants and manage the property while I'm overseas. I would love some feedback from anyone who has experience with this, or just some ideas that I may not have considered. I'm not opposed to moving to the UK to get the ball rolling with this, and my current work is flexible enough that I can do this. But that said it would be much easier not to do that. Looking forward to any advise. Cheers, Andy
  18. Hi everyone my name is Jamie and thought I would introduce myself! I am a part of a new prop-tech startup from Bristol called Bunk. Bunk is the UK’s first end-to-end lettings ecosystem, connecting landlords with pre-verified tenants to make your entire journey effortless. From finding tenants, to signing contracts, collecting rent and reporting maintenance - Bunk handles it all. Through the benefits of digitisation, we automate the rental journey to provide a seamless, hassle-free experience for everyone. We provide the tools for everyone involved to manage everything on one platform without the need for traditional agents. For tenants, you can search, sign and secure your property with our innovative platform in an instant as well as using Bunk to pay your rent and report any maintenance issues you have directly to your landlord. For landlords, we provide an easy-to-use management dashboard to allow you to list your property, manage offers, contracts and, once moved in, any rental payments and maintenance issues. Our platform is very close to our launch date now, so I am very interested in speaking with landlords with and around the Bristol area to get feedback on our platform and work in cohesion to create the perfect management tool for them. It would be great to chat to anyone in Bristol who is interested. All the best!
  19. Hi All, Attention all residential buy-to-let property investors! I am currently completing dissertation on how residential buy-to-let property investors adapting to the recent tax changes to industry. If you are a residential buy-to-let investor, keen to hear from you on your thoughts and opinions in support of the dissertation. Please like and share survey to those of interest in your network so as many responses can be generated in support of my MSc Dissertation thesis. https://www.surveymonkey.co.uk/r/BRDKQK7 Kind regards, Simon MSc Building Surveying Post Graduate London South Bank University.
  20. Dear All I am interested in purchasing a buy-to-let somewhere in Manchester where I am originally from. I have done quite a significant amount of reading on property investment but I know this is just the beginning of a long, arduous journey. No doubt there will be a few ups and downs along the way. Being so far away I can't help but think of using the services of a property sourcer, such as Assetz and Sequre, although I understand they charge an upfront fee for each purchase. Assetz has presented me with an opportunity to buy a studio (62k) or one bedroom apartment (78k) in Stockport town centre, a few minutes walk from the railway station. They are saying that Stockport town centre is undergoing massive regeneration which will attract plenty of businesses to the area. The old police station and the HMRC office building are being converted into residential developments. So my questions are.... Has anybody on this forum used a property sourcing company before and if so, how have they their investments panned out since purchase? And, does anybody have any thoughts about or even experience in investing in the Stockport town centre area? Would you pay more for the one bedroom flat or go for the higher-yielding studio and save 16k? I am looking forward to receiving your replies to any of the questions I have posted. Kaichan
  21. Hi, Can anyone advise me on the following SDLT i would pay on the below property as a first time buyer who is buying a Buy-to-let property. Purchase Price - 117,000GBP Buy-to-let property Leasehold flat Off plan property - Complete June 2018 Thanks, Eamon
  22. Good morning all! I've come here hoping to get a bit of advice as a newbie to property investment but first need to tie up my own situation, so I'll jump right in. In 2014 I purchased our first home (a cottage) 2 bedroom. In 2015 my wife and I found out we were having a baby. Towards end of pregnancy we moved in with parents as wife needed extra help while I worked away at sea. We rented our property out. 2016 baby is born, I decided I need to progress my career and saved for further education within my field. I saved and passed all exams. 2017 2nd baby born. We are now in rented accommodation and still renting our property out. 2018 I find myself in a situation I'm not sure how to get out of, I own a house but am renting and this is where I'm hoping to get some advice. I see 3 options: 1) Sell the house use profit to buy bigger house.-does not further my property investment goals 2) release equity from house and use that to buy next house while keep renting to tenants. 3) move back into very small cottage for a year on an interest only mortgage, save up, then buy next property. And find tenants for small cottage. Apologies for long post, Any advice is greatly appreciated Kind regards Stirling
  23. Hi, Can anyone advise me on the following SDLT i would pay on the below property as a first time buyer who is buying a Buy-to-let property. Purchase Price - 117,000GBP Buy-to-let property Leasehold flat Off plan property - Complete June 2018 Thanks, Eamon
  24. I read this today, been aware of this rise in demand the last couple months. "Mortgage brokers are being warned that they could be struck off lending panels if they are complicit in providing buy-to-let loans on properties that are being used for holiday lets. Following recent changes to landlord taxation, there has been a surge in lettings through the holiday let rental market using websites like Airbnb and Gumtree. The fall in the pound post the Brexit vote is persuading thousands of Britons and foreign visitors to seek short-stay accommodation in the UK. This means that thousands of buy-to-let landlords have been taking advantage of the demand. Research shows that short stay holiday properties can generate double the annual income of a typical residential buy-to-let." Brokers, just make sure you do your due diligence. PM me if you wanted more info if you have been "accidentally" breaking the rules and AirBnNing your BTLs
  25. 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.
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