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Found 263 results

  1. Hi Folks, I would welcome any feedback on my current situation. I am looking to purchase a holiday let property in the UK through a limited company. Looking at Limited company mortgages in general, they typically offer somewhere in the range of 75%-80% LTV. To fund the remaining 20-25% I could remortgage my property. I was thinking that I could lend the money to the limited company and the income generated would help pay for remortgaging. Is this the typical way for company mortgages to be set up? What are the downsides to this arrangement? Are their better arrangements for funding the remaining 20-25%?
  2. Hi there, I have been looking at properties/plots of land in South London with the idea to buy and convert to residential primarily as buying a 2 bed house would be completely impossible via the usual mortgage route for myself, plus I would be looking at minimum £18k stamp duty as it would be a second house. I have come across this auction garage/workshop which is approx 60m2 https://www.barnardmarcusauctions.co.uk/auctions/07-october-2019/185474/ lot 132. As it is on for £90k it would be feasible for me to buy but I am aware from doing some internet research that high-street mortgage companies do not like providing mortgages to buy garages. Could any one suggest some feasible finance options I could look at? Also does anyone have any experience in this area and would know the likelihood of getting planning approval? In the ideal world I would like it to have planning approval before I bought it but it appears that in London once you have obtained planning approval you add on a few more 0s onto the price tag so due to the competition looks like I would have to take a punt, but just want to gain an understanding of my chances instead of going in blind. Many thanks in advance for any advice provided. Rose
  3. Hi all, Firstly my apologies for not posting anywhere near as much as I should! It is renewal time for my BTL, and I am torn between fixing in between 2 and 5 years. The two options provided by my mortgage broker makes the 2 year (2.19%) cheaper by £376 over the first 2 years, however I am swinging toward the 5 year (2.44%) for the peace of mind over the next 5 years whilst we deal with an potential fall or from the B word, whatever that may be... Appreciate everyone’s circumstances are different, but would love to hear what sort of length terms people have been, are, and are planning on going for on their recent deals Many thanks
  4. Hi, any insights would be much appreciated on the following: I am looking to buy a property which is being sold as 2 flats (a 2 story house has been split over 2 floors) each with it's own private entrance - according to the details I would be buying the freehold and own the whole property I could either keep it as flats or turn it back into one house. 1. Would I be able to get a residential mortgage on the property? 2. Would I be able to keep it as flats, have one flat as my primary residence and rent out the other one? All whilst staying on the resi mortgage? 3. If I wanted to sell each of the flats individually at a later date would I need to convert them to leasehold? Thanks in advance Lewis
  5. Hi Guys, So I have 6 BTL properties and my strategy is simply to buy a property, refurb it and let it out for 2 years on a fixed interest only mortgage, before refinancing it after 2 years to take out as much as I can to fund the next property. So, I’ve got 3 properties that will require refinancing next year, however I had one property that required remortgaging (my first property) but i used the existing lender who gave me a great deal for the next 2 years, (but I wasn’t looking to take any money out of the property) and was so simple, easy and quite cost effective, and only required a signature... however they did not revisit the property...I’m just wondering if the rates are competitive if it’s worth sticking with the existing lenders, or do you think it’s worth going with another lender who will come out and view the property and comparable properties to give me a better valuation than the existing lender...???I’d be interested to hear your thoughts...Thanks, Neil
  6. Hi all, New to the community and first post on this site. I am a UK dual citizen living and working in Australia. I was hoping to get some advice regarding my ability to secure a BTL mortgage with only Australian income? Thanks in advance!
  7. My partner and I (both 30 years old) have some savings and are looking to start investing in property for the long term cash flow to eventually replace our income. We currently own no property and are tenants ourselves. We want to skip buying our own house and get straight into investing. Q1) would we still benefit from First Time Buyer stamp duty deductions if we were to; A) buy to let? B ) buy through a limited company? Q2) I’m assuming we would need a first time buyer, first time landlord mortgage - can we get this through a limited company? What you've done in property so far Nothing just yet. Just been building a foundation of knowledge and learning all I can through podcasts, reading, and a few meet ups. Q3) I have spoken to lots of people who have found value in paid for courses - are there any you’d recommend? What areas you invest in (or want to invest in? Currently living in Hertfordshire where property prices are out of our budget so looking further north. (Manchester, Leeds, Sheffield, Nottingham) My next steps in my education is to pinpoint one of these cities, learn it well (online research, visiting), and then target 1 city for investment. I know they say invest in an area you know, but we want to get started, and having property at least in 1 city further afield seems easier than having multiple properties over numerous cities. Thoughts? What your plans are for the future Looking at BTL to put my learning into practice for the first few and then moving on to HMO’s as I build confidence. We want to have a portfolio in 10 years which will allow us to retire from our jobs (currently 30 years old). Thanks for reading. If anyone has any advise or input on anything, it would be great to learn from your input. I look forward to reading your responses. Ben
  8. Hi all, First post from longterm lurker! My wife and I have one BTL property in her name (so have some experience) and are forming a Ltd. company to buy at least two more this year... and more in the future. We're about to put an offer in on a flat in a listed building. The math's works out favorably however my only unclear variable is the interest rate to be charged. I'm happy it will be mortgagble, however my two questions are: Q. Do interest rates on mortgages on listed buildings come with a premium and if so how much? Q. Are there any restrictions which need to be considered? Thanks in advance, S.
  9. Hello everyone, Hope you are all doing great! I have a question that's been on my mind for some time now and I am wondering if the Propertyhub community can answer my question or point me in the right direction. Here is the situation. My girlfriend and I are living in Spain. We have some money saved up and already own an investment property in Spain which we let through Airbnb. We want to invest in another property and are looking to invest in a buy-to-let in the UK. Now, I am aware there are special expat mortgages, but I am afraid those won't apply to me. I am Dutch and have never lived in the UK (so no credit history) My girlfriend is Scottish, however, her temporary contract will end after the summer. My job is stable and I have a permanent contract. Do you guys think, we are eligible for a mortgage in the UK and if so, any good brokers you would recommend who have experience with these type of situations? Thanks in advance for your answers. Mark
  10. Hey Fellow Hubbers! So my property in Sheffield is coming up for remortgage now and I am trying to decide whether a 2yr or 5yr is best. This is my first property and the first remortgage, so just interested in what people normally do. I know it depends on your goals, and for me, it’s maximise cashflow and pull out as much equity as possible to reinvest. I do like the idea of knowing what I will pay for the next 5 years but as I am only at the beginning of my property journey feel I need to be a bit more aggressive and recycle my deposit to get that snowballing rolling. So my thoughts are that rates will not go up too much over the next 2 years (according to economists but who knows with Brexit yawn), so I could do a 2 year and then a 5 year to lock in a lowish rate. I could also potentially just take a 5 year and then get a further advance or second charge mortgage to run alongside it if there is substantial equity. The 2 year would improve my monthly cash flow by about £30. The other thing is those pesky arrangement fees, sure they give you better cash flow the higher they are but your mortgage ends up getting bigger and bigger, what are your thoughts on this? I know that it may look cheaper paying the arrangement fee, but you will be paying interest on that fee for the life of the mortgage right! Any advice would be greatly appreciated! If you need any other info to give me a better answer, please ask  Cheers, Alex
  11. Hey Fellow Hubbers! So my property in Sheffield is coming up for remortgage now and I am trying to decide whether a 2yr or 5yr is best. This is my first property and the first remortgage, so just interested in what people normally do. I know it depends on your goals, and for me, it’s maximise cashflow and pull out as much equity as possible to reinvest. I do like the idea of knowing what I will pay for the next 5 years but as I am only at the beginning of my property journey feel I need to be a bit more aggressive and recycle my deposit to get that snowballing rolling. So my thoughts are that rates will not go up too much over the next 2 years (according to economists but who knows with Brexit yawn), so I could do a 2 year and then a 5 year to lock in a lowish rate. I could also potentially just take a 5 year and then get a further advance or second charge mortgage to run alongside it if there is substantial equity. The 2 year would improve my monthly cash flow by about £30. The other thing is those pesky arrangement fees, sure they give you better cash flow the higher they are but your mortgage ends up getting bigger and bigger, what are your thoughts on this? I know that it may look cheaper paying the arrangement fee, but you will be paying interest on that fee for the life of the mortgage right! Any advice would be greatly appreciated! If you need any other info to give me a better answer, please ask Cheers, Alex
  12. Hey All, If I was to buy a building that was comprised of three units (Flats), and intended to live in one of the three and rent the other two out, what mortgage type would I need? I cant find clear guidance or the technicalities. Thanks
  13. Hi all, This is my first post and I hope someone can help! My gf and I is looking to buy our first BTL property under a limited company and I understand that we will need to do personal guarantees against the mortgage (which is fine). We both have our own residential mortgages , however, she has a help to buy equity loan on hers. I understand that with HTB you can’t own another property until you have paid off your existing equity loan (or sell the property) . Is this also the case if the property is purchased under an ltd company as it is a separate entity? Many thanks in advance, Jordan
  14. All, I have found myself my first property and have started the process. I was just wondering what people's thoughts are pros and cons of a 2 year or 5 Year fixed mortgage. The interest is higher on the 5 year fixed. What are people's thoughts. Regards, Jay
  15. Hello all, Following an article in the Business and Money section of this weekend's Sunday times *, and from listening to recent Rob's podcasts with Dave Cookson and the new Property Hub Mortgages venture, (all of which very helpful, I'd recommend), I have a question on why it seems to be accepted practice that BTL mortgage rates are commensurately higher if the applicant is made from Limited Company standpoint, as opposed to one acting as an individual. Clearly with the tax incentives that are tapering in, there are merits to using the vehicle of a limited company in the context of a property portfolio, but my question to the community and the number of mortgage professionals out there who are in it, is why that status quo exists? Is it merely that the market has yet to offer the more competitive rates out to the former investor type? I understand that the application itself may be more complicated, and historically there was always less choice for the Ltd company, (although I understand that this is changing), could it be that the better rates are being offered to the individual investor simply because there have, until recently, been more of them? And in any case, in the example of the Ltd Comp the director(s) are still being held personally liable for the company's debt, and are checked in the same manner as any individual might be. An example given in the paper was a comparison of two 75% LTV loans, both with the same arrangement fee and both on a fixed rate for two years. The "mainstream" applicant would be offered a rate of 1.81% but the Ltd Company equivalent (the paper said), was 2.99%. To my mind this is an example of a lender capitalising on the perceived incentive of using one over another, and then charging more , "because they can"? Really appreciate hearing from any of those hubbers "in the know" Good evening and thanks in advance James * and mindful of all I read in the press and sensationalist headlines, this one seemed to be quite niche, buried as it was down the order in the final few pages of probably not the most popular section of the paper.
  16. Hello Hubbers! Hope you are all well... I was wondering if any readers would share their experiences of Deed of Guarantee signings required for their Limited Co BTL mortgages. I can’t find much reference to it in books or on this forum or the wider web, and professionals I’m dealing with such as Solicitors and Brokers are giving me contradictory opinions on it. Some are saying it’s unheard of and I should be able to negotiate out of them with the lenders, others act like everyone has to do it, so I’m fairly confused. I have a Limited company with my sister who is a small shareholder and director just for security and ease of continuation should anything happen to me. Our mortgages are with TMW and every time we sign up we both have to see an independent solicitor at £120 a time to sign a ‘Deed of Guarantee’, basically tying our own estates into the company finances and assets. Of course this takes all the protection out of using a Limited Co Vehicle, so aside from the tax benefits it’s a lot of hassle for not much other benefit. So who has signed them and who hasn’t and what are your thoughts on the matter? Regards.
  17. Hi all, I am highly interested in property investment and eager to make my first BTL purchase. I have around 40k to invest. However, I am in my final month of University and therefore am aware that I am not currently in a position where I would be able to obtain a BTL mortgage. I have read quite throughly in regard to lending criteria, however have not been able to find a clear answer as to whether my student debt will inhibit me in getting a BTL mortgage in the future? Or should this not be an issue as long as I achieve employment paying 20/25k annually? I do not own my own home. Any information you could give would be much appreciated. Many thanks!
  18. Hi all, I am looking at moving in with my gf and buying a residential property together. I have had a residential mortgage before. She has not but she has been named on property deeds before. (Gifted) We are also looking to invest in a couple of BTL properties as well. As this would be a joint venture between myself and her, will there be any issues in getting joint BTL mortgages if she has never had a residential mortgage previously? Do we need to have had the residential mortgage for a minimum amount of time prior to applying for the BTL? If this is the case are there any ways around this problem? Maybe me getting the BTLs in my name initially then adding her name after x amount of time? Really appreciate all your thoughts. Thanks in advance! Lewis
  19. Evening all, I have recently had an offer accepted on a Flat, with an unusual condition attached. This is the situation: Vendor owns all four flats in the building (and the Freehold). He has put all four flats on the market at the same time. The condition of sale for the flat I am trying to buy (FFF) is that he will only sell it if he can sell (at least) two of his flats, because he needs to raise a certain amount of capital to inject into his (unrelated) business. I do not know how much money he needs to raise, but i understand he has a threshold of two flats because of the CGT he will be liable for. So far there has been little interest in the other flats, so I am worried that my deal may fall through. I am ready to move on the FFF (75% Mortgage DIP and deposit funds etc.) now. Q1: What are your initial thoughts? To add to the mix, I would be interested in purchasing the TFF (in addition to the FFF), but I do not currently have the funds in place. I am planning to re-finance two of my existing properties in Sep to release equity for another purchase. Q2: Can anyone think of a creative option deal that might work for both me and the vendor, which might incorporate buying one flat now, and another in the Autumn? Appreciate any and all advice, thanks!
  20. Hello Everyone, I am in the process of setting up an SPV Ltd as an expat. Looking for advice on mortgages for British expats looking to borrow into an SPV for UK property? What are the time scales for approving an application? what sort of rates/fees am I looking at? Any advice is warmly welcomed!
  21. Hey guys, I'm looking to do my first flip up in Leeds on a property between the £80k - £100k mark. I have approx £25k cash for deposit, fees and renovation but I'm just a bit unsure which route to go down re: financing. I want to try and get this flip down as quick as possible (within 2/3 months) so I'm not sure if this will affect how I finance the flip. Bearing the above in mind is there a clear route to go (mortgage or bridging loan)? Would really appreciate any advice anyone experienced can give on this! I know lenders don't like loaning to people flipping, but I've read you can work round this. I'm new to this and don't want to make any big mistakes! Thanks so much guys!
  22. I have a SPV company buying a house BTL. We have received our mortgage offer and need to get a form signed saying we have received legal advice (from someone other than the conveyancer) that we understand the risks involved in being a guarantor. I have phones several solicitors in my area - Guildford, without success. The one firm that said they would do it wanted to charge £500+ costs! Does anyone know a solicitor in the surrey area that would do this? Is this fee normal? Thanks Mat
  23. Hi all, My partner and I are first time buyers and looking to buy an off plan property in the South East. The developer is asking for a 10% deposit now and a further 10% 3 months after our solicitors have received the legal pack. The scheme is being developed by the local council but being sold by a developer. I have been told that only the initial 10% is protected by "checkmate warranty" (I am yet to research this any further) and I do feel somewhat comfortable paying the additional 10% deposit as the money is not going to a developer who could go bust. But can anyone shed any further light on this for me? Has anyone ever been involved in a scheme like this? Or have any advice regarding paying a council a large sum of money? (I don't think a council can go bust can they?) Whilst this is mainly a home for us to live in I am buying with capital growth in mind as there is a significant amount of investing going into the area, great schools, fantastic transport links to Oxford and London etc. Any advice and/ or comments are welcome. Thanks in advance.
  24. Can anyone recommend a independent mortgage broker in Northamptonshire ? Thanks in advance! Nim
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