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Showing results for tags 'mortgage brokers'.
Found 7 results
Good leasehold title
jitsy posted a topic in Legal AdviceHi All, Has anyone purchased a property with a 'good lease title'? The property we are in the process of purchasing is in the NE and has has a 'good lease title'. Our solicitor seems quiet wary of this and has said this may cause issues for when we are refinancing or selling the property. The vendors solicitors have refused to upgrade the title to an 'absolute lease title' before purchase, we have been advised to get a legal indemnity insurance policy in the unlikely event there is a claim on our lease. Our broker on the other hand has said it shouldn't be an issue refinancing, so we are a bit perplexed. For info, this will be a cash purchase, carry out renovation works to convert to a 6 bed HMO and then refinance. The lease itself has about 800 years left on it. Thanks
SIC Code & Recommendations for Mortgage Broker
sam_turton posted a topic in Tax AdviceHi all, I am currently setting up my limited company in preparation for my first investment. I have done some research into SIC codes and it seems 68209 is suitable for my strategy which is to buy and hold. However, is there any harm in adding 68100 also as depending on future markets, I may need to sell my properties. I’ve heard it can impact lending to have multiple SIC codes and I will be dependent on BTL mortgages. Also if anyone can recommend a financial advisor and mortgage broker specialising in BTL it would be much appreciated. I am struggling to find any BTL specialists local to me in Warrington. Many thanks, Sam
Day 1 Mortgages
daz posted a topic in Mortgage AdviceI'm looking at purchasing properties using the BRR model, but I will want to refinance them before the so called '6 month rule' of ownership. However, I would rather avoid buying the property using 100% cash through bridging finance if possible (due to the expensive nature of short-term finance). The podcast mentions Day 1 Remortgaging where you buy the property (typically BMV) and the surveyor agrees in principle what the house will be worth when refurbished to a high standard. Using numbers to illustrate: Purchase price: £90k Value once refurbished: £140k Refurb cost: £20k Other costs: £5k Realistically the only other alternative appears to be standard bridging finance or a bridge to let, with the latter looking quite similar to a day 1 remortgage. I will also be purchasing through a SPV ltd company - Can anyone who has actual experience with this shine some light for me please? - Which brokers have you used in the past for these deals? - Failing the above, which lenders understand these requirements? Thanks in advance!
BTL Mortgage Broker Recommendations
Matt W1 posted a topic in Mortgage AdviceHi. I have £100k to invest around Leeds/ Manchester and I'm looking for a mortgage broker that will be able to help me get 3 BTL mortgages at 75% LTV over the next 2 years. Has anyone got a great mortgage broker they could recommend? I'm new to mortgages (I'm selling a cash bought property to fund this) and none of my family/friends are into property so I'm struggling for a lead! Cheers, Matt
Can you beat this HMO mortgage rate?
Stuart Hepburn posted a topic in Mortgage AdviceLoren ipsum..
Hello everyone Completely new investor here, kiwi/Brit expat living in Dubai who wants to decide on future goals for family and sees property investment as a way of acheiving these goals and enabling us to live a better life within a certain time frame. Initially looking for assistance with releasing equity from a property we own in the UK (do I need a mortgage broker for this?) and then will need assistance of a property company for investment guidance/strategy and then a mortgage broker that specialises in setting up expat mortgages for our next purchase. We are completely serious about focusing on this so I'd welcome any recommendations that might help me start the ball rolling. I'm loving this forum, the podcasts and resources and they really are inspiring and encouraging, now its about the next steps!
Hi All, Got here through the property geek podcasts. Been reading the forums for the last few weeks now, which has been a great form of motivation for me. Thanks everyone. I am John and I am a newbie investor. I have a one bed property in Streatham, London, that is a BTL. Came about accidentally, but been going well for the last few years. I have earmarked 2014 as the year I get my first ‘proper’ investment and I am keen to learn from this great community of people. My aim is to buy at least one BTL property per year for the next 10 years. I have just remortgaged to release the funds for the next purchase. I know that the main hurdle I have to overcome now is taking action. BTL investment is the path I have decided on with a focus on SE London (Catford, Grove Park etc.) Would appreciate any recommendations for good mortgage brokers and would love to hear from any investors focussed on the South London area. Thanks, John