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Found 11 results

  1. Hello all, I refuse to repeat the same opening sentences on all emails and introductions based on what is currently going on, however i do hope everyone is well of coarse! Me and my partner are young professional living in a rental apartment, we do not own a property or have a mortgage at the moment. We will soon be looking at mortgages at a later date, i am looking to start becoming a property developer and one day start my own business to the point where i no longer need my current job. I am researching the types of mortgages where by i c
  2. Hi there, I have a question on what deposit contribution is required at the point when you refinance onto a mortgage from a bridging loan upon its expiry.. For Example: - I purchase a property worth £100k using 100% bridging (secured against other properties I own) - I perform refurb works increasing value to £150k. - I refinance onto a 75% BTL mortgage once the bridge expires In this scenario, what deposit am I required to contribute at the point of refinance? Is it: £25k (25% of £100k) / £37.5k (25% of £150k) / other? Answer is probably really obvi
  3. Hi, New to property investing and very interested in flipping a property to fund an HMO (and build from there). I recently left my job, and have enough savings to keep myself afloat for a fair few months before a new source of income is required. It's during this time I'd be keen to refurb something and sell. I don't own any property, nor have I ever, but was wondering if I would be eligible for "bridging" finance, including refurb costs? I always assumed bridging involved selling an existing property during the bridge-loan term, securing the loan with your current property as w
  4. Hello all, Brand new member to the page. I am not a current investor/Landlord/property professional. I work in Bridging Finance, for a Lender based in Warrington. Not here to tout for business but share experiences from our side of the fence, hopefully help people with some advice as seen by a lender if the conversations ever come up around purchasing. Of course, I'd never turn business away but I have come here as a support to those who want it, to offer opinions and generally be a nice person. Hope to chat and share with you all soon. Lyam
  5. 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
  6. Hi guys, a question for you all regarding Bridging Finance... The way I've heard it described, seems to indicate it doesn't require a deposit. For example a case study described to me recently involved an individual who 'only' had to pay advisor (legal, broker, lender) fees and the loan interest- and then shortly flipped the property for a significant profit. Correct me if I'm wrong here but sure he would've had to have stumped up a deposit in addition to the costs??
  7. Hi all My only experience to date is buying property with a mortgage where my solicitor acted for the lender and charged me a relatively small Acting for Lender Fee. I am only starting to look at bridging finance for and most quotes I have had include a fee to cover the lender's legal costs which is about the same amount as I would expect to be charged by my solicitor. Is it normal for a bridging company to also instruct the buyer/borrower's solicitor or do they have their own panel or solicitors - i.e. should I expect to pay the lender's legal fees in full in addition to my own
  8. Hi, I am looking into my first deal using bridging finance and trying to set up a broker who can deal with this from. I have found a broker and would just like to ask a few questions as to whether the fees and information required is standard as i have not gone through this before. - Seems like he wants the ins and outs of everything, personal finance, income, credit cards, other rental properties ( value of these, rents received etc) , 3 months statements, utility bills the list goes on, i understand he needs to show that i can afford the bridge when needed but i don
  9. I am looking at buying a building on the high street. It is currently set out as a retail unit, with 2 flats above. The building is for sale as a whole (it's a repossession). The 2 flats are registered as separate dwellings but there is no lease on them separately (ie. the whole building is currently listed as one freehold building). If I buy the whole building (freehold) on bridging finance or cash (ie a finance with no charge on the property) and then issue 999yr leases for each of the 2 flats how long would I need to wait before I could get A BTL mortgage on the flats? Could they be treat
  10. An innovative new buy to let product has come to market that in some cases circumvents the need for using bridging finance to acquire properties that are not mortgage-able. "Refurbishment buy to lets" have been on the market for a long time but generally they require the property to be mortgage-able on day one, any works required are for improvements only. So for example; a better bathroom can be required to improve the rental generated by the asset and its value but there has to be a bathroom in the property prior to drawdown of the loan - even when the plan is to replace. These products th
  11. I was introduced to the Property Hub by Mark @ homesure at a networking event. I am a commercial finance consultant who helps people like yourselves expand your property empires by identifying sources of commercial finance. You can direct your financial questions at me and I'll try and help
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