Jump to content

Search the Community

Showing results for tags 'bridging loan'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Property Hub
    • Housekeeping
    • Property in the news
    • Introduce yourself
    • General property discussion
    • I need advice!
    • Progress journals
    • Property Podcast discussion
    • Property Hub University
    • Chit-Chat
  • The Property Hub Summit

Calendars

There are no results to display.


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


Website URL


Skype


Location


Areas I invest in


About me


Property investment interests


My skills


My goals


Interests outside property

Found 14 results

  1. Hello & Happy New Year to you all! I am considering the Buy, Refurbish & Refinance strategy and in this scenario would be using a bridging loan for the purchase (along with my own savings for the refurb). Whilst I know predicting the market is nearly impossible, I would like to be able buy with some confidence that the local market would be in a good position in the short term so I could continue with my strategy and refinance, pay the bridging loan off and pull out some (or hopefully all) of my money. Are there any market indicators I should be looking for? Is there ev
  2. Hey all! I'm looking to purchase our first property with bridging loan (note we have 3 BTL already but they have all been through BTL mortgages) Anyways I'm looking for recommendations for who you have used before and rough costs? I've seen from 0.5 to 1% per month but that's a massive difference. The property value is 100k and I'll buy it for 100k hopefully, spend 15k on it so I need 120k in total with fees and stamp duty. If ideally like to borrow 60 to 70k over 6 months. Many thanks!
  3. Hello everyone!! I am 25 and have recently quit my job to flip property full time. My fiance has a well paying job so is happy to support us in the mean time. We have a family investor who has offered us £200,000, though this doesn't go a long way as we are in the South East. My biggest problem is confidence. I have found what i believe is a very promising property but am struggling to find the guts to do it. Any advice on confidence (or anything flip related) would be amazing!! Thank you
  4. 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
  5. Hi all, I’m just in the process of buying a property that I want convert from a studio to a proper 1 bed flat. I m planning on following the Buy Refurbish Refinance Rent strategy as it fits quiet well for this property and plan. I’ve come across precise mortgages Refurbish Buy to Let product and it looks prefect for this application, but I’d love to hear if anyone has any experience using this type of product before and if so, how was the process , was there any aspects to be aware of that aren’t so obvious setting out or any general pros’ and cons? Any pointers of general advise wo
  6. Hi Everyone After some advice and wonder if other investors have come up against the same issue and how they manged to get round to it. I am currently buying my 3rd investment property and the Valuation was completed last week. My broker called me today with the unfortunate news that the lender is not willing lend on the property and it is in a poor state of repair and has not been properly maintained and are deeming it 'un-lettable', therefore unwilling to give us a BTL mortgage. The property is very cluttered and does need a cosmetic update, however there is currently an owne
  7. 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
  8. Hey guys, I'm looking to do my first flip up in Leeds on a property between the £80k - £100k mark. I have approx £25k cash for deposit, fees and renovation but I'm just a bit unsure which route to go down re: financing. I want to try and get this flip down as quick as possible (within 2/3 months) so I'm not sure if this will affect how I finance the flip. Bearing the above in mind is there a clear route to go (mortgage or bridging loan)? Would really appreciate any advice anyone experienced can give on this! I know lenders don't like loaning to people flipping, but I've read yo
  9. Hey all, Having experienced so much great advice here I wondered if people may have some advice which is actually for my parents. They are downsizing, they have just had an offer accepted on a bungalow (£370K) but have yet to put their current house on the market. They basically have 3 options as far as I can see for funding this purchase, but I wanted to see what those of you who know far more than me might think of doing. First, the current house they have has no mortgage and would likely sell between 650-700K. They still have an income of over £70K per year and a number of savings
  10. Hello All, I am considering getting a bridging loan for a flip project. I am interested to hear from people who have used bridging finance for flips. Who was your lender and what was offered in the product? A broker has mentioned a product that offers finance on properties £100k+ at 0.8% a month with a 1% fee, 70% loan to value, 100% refurb cost up to a year I think. I am also wondering if anyone has heard of Think Property Finance and has used them to get short term property finance? They have a similar product but with a 75% loan to value. It would be great to find
  11. Hi All, I'm in a unique situation. My wife has been in her residence for sometime through a housing association and has the right to buy. I have lived in the property for 2 years now. We intend to purchase the property which we would get below market value (BMV) but I was thinking of ways to unlock the equity quicker than just waiting for the standard 2 years on a standard mortgage deal. So my question is can I use a Bridging Loan to purchase the property then on completion get a normal mortgage to unlock the equity on the property? Here are some indi
  12. Hello, can anyone recommend a reliable mortgage advisor specialised in BTL mortgages and bridging loans who ideally is a landlord too? If possible we would like to meet someone local in South East Kent (Canterbury, Ashford, Folkestone) area. Thanks!
  13. Hi everyone, As a beginner in the property investment business I have following points to discuss: (please share your experiences) There are certain brokers providing Bridging loan services without meeting in person. Is it normal and okay to trust them? Can someone share few agencies who helps both Bridging loan as well as Mortgages in Bexleyheath/Welling/Eltham areas (or within 10 miles) so can meet in person ? Thanks, RK
  14. Hi, I am really new to property can someone tell me if my strategy is realistic? 2 bed flat on sale at 55K flats value 65K (on the home report and others in the same block sold for more than ) Seller is desperate to sell. Sells for 50K This then gains buyer 15K in equity. Buyer uses bridging loan to finance the deal for 6month costing 5K 6 months later buyer takes out a 80% LTV mortgage on the valuation of 65K, paying out 52K Pays off bridging loan total cost £3000, Gross yield on the property 11%
×
×
  • Create New...