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  1. Hi I have recently had an offer accepted on a ground floor flat. On review of the lease I noticed that there is a ground rent escalation clause, with the ground rent (set at £250) doubling every 15 years. The building was built in 2015 which is when the lease started. The term of the lease is 125 years. The issue is that I was hoping to buy this on a buy to let mortgage with a 25% deposit. However I understand that lenders are not keen on lending on ground rent escalation properties. Has anyone had to deal with this and what is your experience with the lender? Which lender did yo
  2. Hi, I am looking to get a fixed term mortgage, probably for about a 5 year period. The rates are very favourable but I am hoping to buy in London and will only be holding the property for around 5 years. However I am not sure what term to go for, I can afford varying monthly repayments. Is there any benefit to getting a shorter term on a property I will only be holding for 5 years? Or should I try and get a mortgage for 25 years +?. The only issue I can see is that I will pay minimally more interest overtime with a long term, which should be too much of an issue as I don't intend to
  3. 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 a
  4. Hello everyone, I hope you're well! I'm not sure if I'm in the right place for questions about my own home mortgage, if not I can remove the post. It's my first time remortgaging and I have a few questions. When we purchased the property 5 years ago we completely gutted the house back to bare brick, re-plastered, fitted new bathrooms, new kitchen, all new fixings, and gave it a fresh coat of paint. When remortgaging for when the 5-year fixed term ends should we pay to have the place valued in the hope that we've increased its value to get a better LTV ratio o
  5. We are considering purchasing a property in the North East though our limited company. We would be paying cash initially but would want to mortgage after a six month period (or sooner if possible), but due to value of the property are little concerned of it being possible - property value will be around £45-£55k, so with a 25% deposit, the mortgage advance will be quite small. Does anyone have any experience of this and advice?
  6. I am after some advice if possible please! I am applying for a joint mortgage of £178k for a property which is £498k (offer made and accepted). The mortgage will be split between my partner and I. The issue for me personally is old payday loans (quite a lot of them) which are around three years ad three months old, and have been paid off. My partner has no payday loans. Neither of us have any 'adverse events' on our credit scores. We have an agreement in principle from a high street lender. So, my questions... What are chances of our application being declined on the ab
  7. I am after some advice if possible please! I am applying for a joint mortgage of £178k for a property which is £498k (offer made and accepted). The mortgage will be split between my partner and I. The issue for me personally is old payday loans (quite a lot of them) which are around three years ad three months old, and have been paid off. My partner has no payday loans. Neither of us have any 'adverse events' on our credit scores. We have an agreement in principle from a high street lender. So, my questions... What are chances of our application being declined on the ab
  8. Hi all, So myself and 2 other friends (All aged 23) are looking to put our funds together to buy a 3 bedroom property (£180k-£210k) next year, that is in need of interior renovation/modernisation - A relatively easy flip in terms of work to the house. Once flipped, we ideally would like to rent this property out and use a letting agent, possibly with full property management, and split the profit . However, my questions are all mortgage related queries: - How easy is it to swap from a residential Mortgage onto a BTL? Bearing in mind 2 of us are in the RAF so receive several exc
  9. Hello Everyone, I am looking to remortgaging my leasehold ex council flat, its worth about £55-60k, it does not have a mortgage. I would like to know do i need a solicitor to do any legal work & if so roughly how much will the solicitor charge? Many thanks. Sub.
  10. Hello, I would like to start building up my portfolio of rental properties in an SPV format. I am keen to start contacting mortgage advisers to look for the best limited company BTL mortgage rates. Does anyone recommend a good mortgage advisor with experience of helping a newbie get into the market ? Thanks Camilla
  11. Hi All, Given the current climate, a property investment in my mind is increasingly compelling. Ideally looking for studio in London zone 1/2/3 around ~£300k. I'm 27 and hoping to get some input from you seasonned investors, regarding my financing options. I'm currently working hard and full-time building a tech company, from which I take a tiny monthly salary of £1,700 net. I own an apartment in London outright, value is approx £800k and I have £60k currently invested in stock/crypto which I could put into a deposit. The aforementioned property is a three bed, I rent
  12. Hi, new to the exciting world of property. We have set a company up but need some adcice on accountants and brokers any suggestions are welcome! Thanks in advance!
  13. 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
  14. Hi i am looking In to getting a mortgage on a property to rent out after a year, however I am also going to be need to buy my own home in 2/3 years. I am after some advice as I’m wondering would this affect the amount I’m allowed to borrow for my own home. Would I be better of getting a family home first and then a rental property a year or so later. Thanks Billy
  15. Hi everyone, I wonder if somebody can give me some advice? We recently had the opportunity to buy the house next door to us for the purpose of knocking through and combining them. The two properties used be one originally so I have no issues with the actual building work. My question is about how to proceed as we own the empty house outright and have a mortgage on our current house. What should our next steps be?
  16. My mother owns her own home outright which is worth about 110K. We are looking to invest in BTL together and have 60K capital between us; how do we go about releasing the equity in my mother's home so we can use the capital to cash-purchase a BTL property? Any advice greatly appreciated!
  17. Morning all, after a bit of advice please. I have a ltd company and am looking for a way to invest with a friend that has capital currently in his personal name. We are looking to do flips to build some more capital As far as I am aware neither of us are interested in investing further in our own names as I do not see this as a viable option for tax purposes. I was wondering if their was such a thing as 2 Ltd companies investing together?? I realise this may be tricky as to which company would hold the charge, but I still would like anyone's opinion on how poss
  18. Hi all, My name is Cosmin and I start the journey of investing by buying a small 2 bedrooms house in Leamington Spa (50 m2). It was the house I was renting so I thought it was a good idea to have it until I'm saving enough to move to a bigger house (the one where you raise your children and live for the rest of your life). At the moment the house can accept some big upgrades: heating / bathroom / an extension (around 10 m2 ground level only ) I have 10% equity at the moment. I know I need to have around 25% of it to be able to move the mortgage to BTL
  19. Searched for an answer to this one for a while. What is the minimum you can borrow on an interest only BTL. Was looking at properties around 60k-70k so loan would be around 45-50k?
  20. Hello All! Over 2019, my partner and I have been educating ourselves about property and all the ins-and-outs of BTL. We have managed to save £30k, and now we need to take the leap of faith and actually start DOING some investment!! I'm the kind of person who has to have a clear plan of action, and I'm really struggling to nail down the process to purchasing our first BTL. After many discussions and considerations, we have decided that buying property as an SPV Ltd company will be the best option for us (both in terms of tax implications, and long-term goals). We would be so grat
  21. Hi, does anyone have any experience of "Multiple Dwelling relief (FA2003/Schedule 6B)"? I'm assessing whether or not to move the 6 BTL properties that myself and my brother jointly own in personal names into a Ltd Company. One of the major factors in my decision is the amount of SDLT i will need to pay by moving these 6. I have come across the Multiple Dwelling relief (FA2003/Schedule 6B) which states:- "Where 6 or more dwellings are purchased in a single transaction the purchaser can choose whether to apply the non-residential rates of SDLT.” The Ltd Company i set up would
  22. Hi all, I came across Molo Finance. https://molofinance.com and they have quite a strong claims. "UK’s first, fully digital mortgage lender, we are changing forever how people get a mortgage – starting with buy-to-let. No more paperwork, appointments and weeks of waiting for a decision. Just an easy, online experience that puts you in the driving seat. You answer a few essential questions, once, and we do the rest. Get a Decision in Principle in minutes, without affecting your credit score. Mortgages as they're meant to be" I've looked at the reviews which are mostly positive and ech
  23. Hi all, My wife and I have been interested in the idea of property investment for a number of years, however have only really started to research it properly the last 12 months. Having attended seminars, read a lot of literature and researched online, we decided to go for it at the beginning of 2019! We had £20k in savings, so having consulted a mortgage broker decided to remortgage our house and release £30k, bringing the total to £50k. Mortgage repayments have gone up, however it’s more than affordable so we feel confident with our decision. We’ve then set up a ltd company whi
  24. Hi All, Been following The Property hub for a long time and an opportunity to purchase a property has come up that I would like some advice on, in short: A 3 bed mid terrace property is to be auctioned in a couple of weeks with the starting price around 100k BMV for area, I'm well aware this is likely to go higher. The property has been repossessed, has internal water damage and needs a complete refurb. The numbers seem to stack up from my calculations. I will be viewing it to have a proper inspection this week to get more of an idea on the work. My intention is to refurb pull money
  25. shiv82


    Hello Property Community. I am looking to buy a property in London with my partner who is a diplomat. I believe that this makes it much more difficult to qualify for a mortgage. Does this forum knows about any institution that will agree to issue a mortgage to a Diplomat? Any information would be much appreciate as we are currently a bit stuck...thanks a lot for your help.
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