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Found 4 results

  1. Hello Guys! In August 2018 I and my partner bought our first flat (home), We had the help of the Help to Buy Equity scheme. This is a great one bed flat in MCR city centre. The mortgage is a 5 yrs fixed at 2.34% We are planning to have a family at some point and for this, we need the biggest house. adn rent our current flat. We are thinking to buy a second property in 2023 and let this apartment. For doing this, we need to pay the Help to buy first. The bank that holds our mortgage is Halifax and they are offering us an "additional borrowing" of £43.000 at 2.84% for 35yrs at fix term of 3 and 5 yrs Help to buy outstanding amount is £36000 Summary: House purchased in £170.000 An outstanding mortgage with Halifax: £118.662 Outstanding with Help to buy £36000 The bank is evaluating the flat in £190.000 Additional borrowing offered: £43.000 The biggest house needed in 3 years (£250-£300k) (I have some savings) Questions: Do you think is possible to pay the HTB with this additional borrowing and after 3 years refinance the house to get part of the principal for a new biggest house and rent the 1 bed flat? Do you think could be a better idea to get this money to get a buy to let apartment in Manchester Leeds Liverpool and them use this to refinance to get the principal for the house? Many thanks for your advice
  2. Hi All, New to this. I am 23 from Northern Ireland, live and work in Dubai and recently bought an off-plan city center property in Birmingham. After graduating from University i secured my self a job in Dubai and have been here for 1 year. I have always been passionate about property and educated my self a lot about this industry (which i work in also) Can i just have your thoughts on this investment and future predictions of the Birmingham market: 1 Bed apartment - 550sf Fully furnished to a high spec Build completion - Q4 2017 Rental Package - guaranteed 5 years of rental income Cost - £120,000 (due to it being off plan this price is already 20% under current market value and not Q4 2017 market value) Rent per month - £750 Management fee - 8% Payment scheme - 30% deposit is covered over the build period through monthly payments by me. Mortgage (after build is complete) 70% - £350/month (predicted) Thanks, Eamon
  3. What are peoples thoughts towards holiday lets as a property investment ? I have always fancied the idea of owning a holiday apartment for my family and close friends to benefit from. And also like the idea of letting the property out when I am not using it... I will hopefully soon be in a position to progress with this idea, as I have found a suitable property that is ideal for myself and family, but will also give me a 6% yield in holiday rental... Would be interested to hear if anyone else has a holiday let as part of their portfolio and how successful you have found it to be as an investment ?
  4. Just wondering how you let your investments. Furnished or unfurnished? I am guessing furnished is easier to rent and you can ask for higher rents. (assuming decent furniture) Downside being wear and tear and replacement costs. Are you more likely to have a greater turnover of tenants as it is easier for them to move on? I assume that unfurnished is the opposite of the above. Therefore does it boil down to "Replacement costs of furniture v Increased rental?" What are your thoughts? Brian PS Could be a good podcast topic (if not already covered)
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