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Found 3 results

  1. Good morning! My wife and I are very fortunate that we've managed to build up a portfolio of >10 properties over the last several years. Some of the LTV's are now below 65% yet remortgaging still seems expensive! If we had less that 10 properties, it seems we would be able to get rates of circa 1.9%, however having more than 10 means we're always looking at specialist lenders such as Paragon with rates of >3.5%. This seems expensive in the current climate for a mortgage of <65% LTV. We do use a broker, however does anybody have any experience of consolidating or approaching different lenders to get around this? Thanks in advance for any advice. Wes
  2. Hi guys, just purchasing a btl under a Ltd and got the million dollar question of 2yr or 5yr? Rates are low right now, however I tend to agree with RobB who was of the opinion the base rate was raised to 0.75 in Aug 18 to provide somewhere to go if Brexit was not to play out as all hoped. Bank of England say on their website that the rate is forecasted to be steadily increased over the short to mid term, HOWEVER they clearly state this is assuming there is a smooth Brexit. We’re all aware it’s looking to be anything but smooth! Therefore I tend to agree with RobB that base rate will be reduced to kick start/maintain consumer spending during the fallout. So I think there’s some value in securing a 2.79% rate for 2years with £1400 product and valuation fee (£228 per month) over 5year £900 fees 3.69% (£302 per month). Yes i’ll incur further fees for remortgaging in 2yrs but maybe there’ll be greater rates for Ltd companies by then? Planning to see capital growth so maybe my LTV will also be closer to 60% then compared to 75% now, offering better rates? What do you guys think? Cheers, Henry
  3. Hello, I am a new investor to property, but have many friends who are in the game. I have a cash fund however, my strategy was going to be 25% LTV buy to Lets, aim to negotiate a good price, in 1 years time refinance. My strategy would have been to use a mortgage, at fixed rate for longest erm possible, 10 years if possible and go interest only. Now my question is what happens to my strategy when interest rates start to rise. Historically in 1989 they were as high as 13.5%. When I come to remortgage what if I'm in a slump. What if interest rates are 8-10%, what would be the exit strategy, as worst case scenario if I was in a position where we were in slump I couldn't sell, and to get a mortgage at 8% would likely put property into negative cash flow? What are peoples thoughts.
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