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aaronrem posted a topic in Mortgage AdviceI’m brand new to property investing it’s my understanding that because of covid 19 their may be more opportunities to get good deals. I know I can get a standard buy to let mortgage for my first property but with so many deals can I buy 2 or 3 In one go. i have set up a ltd company i have enough money for deposits
Bridging loan, then morgaging
Barry c posted a topic in Mortgage AdviceHi, 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%