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  1. Lenders are already steering away from certain flats with cladding unless they have the required certificates - Most don't. Even one of our most accommodating specialist lenders today made it clear that they will be unable to lend on: "Flats with cladding and/or balconies that stack vertically above each other containing combustible materials or the balconies are directly linked by combustible materials where the EWS1 form identifies that remediation work is needed and has not been carried out" Read the article for more background. https://www.mortgagefinancegazette.com/market-news/sur
  2. Hi all. I'm looking for a bit of advice as I'm in a bit of a frustrating position with a remortgage I'm currently going through and it's costing me money the longer it goes on. I listen to the podcast religiously and know there is a great community here so really hoping to get some advice if anyone can provide any. I've outlined my predicament below. I own a flat in Hinckley, Leicestershire which I rent out. The building is three stories high, and my flat is on the top floor. I've been trying to get the flat remortgaged recently but the lenders are asking for an EWS1 form to confirm the
  3. Hi, We have a buy to let that has been performing relatively well and with the exception of a few bits here and there we have done nothing to the house since we purchased it 14 years ago. We have about 70 worth of equity in the house and the according to the building society we have the ability to draw out 24k based on ltv / rental income. Question is, do I re-mortgage and take the 10k out of the house for refurb via mortgage but obviously incur big interest cost over the remainder of the term (15 years), or do I use my own money or a personal loan (10k would cost me £700 in interes
  4. Tipton and Colsey building society has announced it is to give holiday-lets and buy-to-let mortgages to customers wanting to specifically rent the property through Airbnb. Currently, this is a gap in the market as the number of people renting through Airbnb is on the rise, with few lenders offering this type of let as a condition of their mortgage. The facts: - Available to applicants that want a shorter or no fixed term agreements. - Available for second homes, holiday-lets, and remortgages - Maximum LTV is 75% - In addition to personal earnings, income made
  5. Hello, New to this site and new to buy to let investing! Considering setting up a SPV Limited Company to purchase my first BTL investment property in Scotland. Looking for advice/recommendations for a mortgage broker who can help and advice on which lenders to go for/avoid. And anything else that might be relevant! Thanks in advance.
  6. Reading all this stuff about some properties now starting to be pushing back at the valuation (mortgage) stage due to asking price vs actual value and some banks getting nervous about over valuing. I will have a house refurb completing mid November and want to get it re-financed as quick as possible ahead of any potential cooling off of the market next year. Some questions; 1)Am i being savvy by doing this now during this mini boom, guess no one knows what’s going to happen next year and my thinking is negative equity would be short term in my overall long term plan..obviously it w
  7. Anyone got any experience of setting up a declaration of trust, or currently have this set up..with an understanding of how this effects your borrowing abilities? want to set up declaration of trust in favour of my wife 99vs1%. Can we still have joint mortgage or not? Thanks
  8. Hi All, I'm back with another dilemma. In 2018 myself and wife had the Right To Buy (RTB) our flat from our local authority which we progressed with this. We opted for a 2 year residential mortgage. Shortly after completion we had found out we was expecting a child and we had to plan to purchase a larger property as our flat was not going to be big enough for our family. We asked our mortgage lender and local authority for permission to let which they did grant our request. We purchased a house and rented our flat. 2 years on our mortgage deal is coming to an end and we
  9. Hi. Newbie here. This site is awesome. And this corner of it is the most exciting bit. Go mortgage advice! I read somewhere (possibly here) that someone had bought the property as an individual (thereby benefiting from better mtg rates) and was renting it to their ltd company (thereby benefiting from better taxation). It sounds too simple! Does this work? Is it legal? Will lenders be OK with it if they find out? Your thoughts please :-)
  10. Hi all New investor to the property market, wondering if I can use a BTL mortgage for a Holiday Let property? I have heard that technically you are not supposed to do that, and that in fact you should seek out a specific holiday let mortgage, but that they are then much harder to attain and at worse rates? Anyone brave enough to advise!? Many thanks in advance Dan
  11. Hello All, I'm trying to get into the buy-to-let world. I don't own any properties (I rent), and I'm planning to buy properties through an SPV. I know normally lenders don't like first-time buy-to-lets, however, after speaking to a couple of brokers, they came back to me with literally 0 lenders. They said their lenders are not lending to first-time buyers through an SPV, at the moment. Do you have any broker to recommend for this case? Thank you!
  12. Hi All, Given the recent uncertainty created by Coronovirus and 'fake news' stories about insurance companies not paying out on policies I wanted to provide you with some clarity on the situation direct from our protection team. Please take a look at the link below for more information... https://www.privatefinance.co.uk/news/blog/2020/03/25/coronavirus-covid19-and-your-protection-insurance I hope this is helpful to some of you, given the current situation. Stay safe! Best regards Nathan Cole
  13. Hi everyone i'm turning 18 in a few months and looking to get on to the property ladder (based in Nottingham, so looking to invest here). I'll be looking to get a residential mortgage and rent out one of the rooms on spareroom to help pay the mortgage, and hopefully will be able to benefit from capital gains that i will be able to pull out in a few years once i'm 21, which i can use towards a BTL mortgage. Would appreciate anyones thoughts on this and if its even possible (I will be earning £18k a year when im 18), as well as any recommendations for a mortgage broker that could help me o
  14. Hi all, my name is Douglas, I am 29 and I live in South West Scotland. I recently did a large house renovation on my own home and now wish to take some equity out so I can start investing in property to hopefully get financial freedom in the future as I wouldn't say I love my current job. I hope to buy my first Buy to let property this year in Preston. The one thing that is holding me up a bit is finding a good mortgage broker and accountant. I just am not sure where i should be looking. If there are any recommendations for either, it would be much appreciated. If anyone is currently i
  15. Hi all, I currently have a residential mortgage on an apartment but I'm looking to move in with my partner, who owns a property, so I would like to rent my property out. I can currently do a consent to let with my mortgage provider but they've said they wouldn't be able to provide me with a buy to let mortgage after my 5 years fixed term mortgage is up as I'd need to own a residential property to be eligible for this type of mortgage. I've looked into it and I'm struggling to find a buy to let mortgage where I don't need to have a residential property. I will be moving in with
  16. Hi, I'm new to property investment and I am getting closer to getting a deposit together and so was starting to think about getting a personal buy to let mortgage in principal, before I start viewing potential properties. For my residential mortgages I have always used Land & Country mortgages free service, which I have been reasonably happy with, so was wondering if anyone here has had any experiences using them for getting buy to let personal mortgages? Thanks, Chris
  17. Hi hubbers, I was hoping for a little bit of advice. My wife and I are currently looking to buy our 2nd BTL and we are not sure whether to buy in a Ltd company or not. We are both basic rate tax payers and can afford to buy in our personal names and not be pushed into the higher tax bracket providing we equalise our salaries (although we will be close to the 40 percent tax bracket). We are both 27 and I would like to think that in the next 3-5 years we would have had pay rises making us higher rate tax payers (myself more so as my wife is now working part-time). So my question i
  18. Happy new year, I hope you’re well. I have a hypothetical scenario based question and was wondering if you could help. Scenario: · I own a flat (~£550K – £600K) and my girlfriend owns a flat (~£325K. Both are mortgaged. She has now moved in with me and currently renting her flat out. · We have seen a property we would like to purchase together. We envisage funding the prospective purchase through equity release from the flat I own, the sale of her flat, the rest being made up of a mortgage and cash. · The intention is to keep the flat I own an
  19. Hi all, Ok, where do I start? Me and my partner have 1 BTL in our own name and are living in a property that we own outright. I also have started a Ltd company with my brother and cousin of which we have 3 BTL there.... about 5/6 months ago my parter had a brain tumour and was diagnosed with 6/12 months to live and I was devestated, as we have two kids under 10. I have reduced my hours at work down to two days a week in order to look after my partner and dropping the kids off/up from school and to be fair my partner has recovered from the initial operation very well although she i
  20. Has anyone had any dealings with sharia compliant mortgages? I'm currently dealing with a bank called Gatehouse who offer competitive rates and no early redemption charges but the concept of a sharia compliant mortgage is new to me whereby you pay the bank 'rent' rather then interest for their share of the property. Thanks!
  21. Hi all, I currently have 1 BTL in my own name and by Christmas will have 3 BTL in a ltd company. I intend to continue to buy property’s on interst only mortgages for the forseeable future until my income can be replaced by the rent that I will be making from them... So with that in mind I am wondering in the next 5-10 years when this time comes, how this will be possible as I have to have a source of income (ie a job) to pay for the interest only mortgages...? i would be intrestrd to hear what other people have done...? many thanks,
  22. Hello Hubbers! We have finally got an offer accepted on a one bed flat facing the sea! We aim to short-term rent it on booking.com and Airbnb. After speaking to two mortgage brokers, there is only one lender who will offer a mortgage to us as a holiday let through a limited company. They are offering an average 3.3% for a two year fixed rate but has £2800 of fees attached to it (property is only £160k). Plus really horrible rates for solicitors which I might be charged twice for (dual representation??) My accountant doesn't really understand about property s
  23. Hi My name is James. Bit of a back story; My dad bought a 2 bed flat near where I grew up in `97 after reading rich dad poor dad. He was terrified of making a loss and its turned into a gold mine. When he died in `04 my mum used the money from his life insurance to buy more property and now has a small portfolio. Two flats in South East London near where we live, a flat in Preston and a student pod in Loughborough. She built this up as her pension. It has had fantastic capital growth and great cash flow with a very low loan to book value. A little over a year ago my m
  24. Hi everyone, I'm new to the Hub and just starting out on my property quest. I currently own (Mortgage) my personnel property but I'm looking to buy my first buy to let property. I can't make up my mind whether it would best to set up a ltd company and go down that route or buy in joint name with my wife. I'm close to the upper tax bracket but she is not so splitting the profit between us would make sense and keep me below the 40% tax bracket, but obviously we could only do this for a couple of properties. Basically I'm interested in the pro's and cons in se
  25. Morning Guys and Girls, Reading over a lot of the previous threads in reference to the difficulty of obtaining a buy to let mortgage if you do not own your own residence and seeking a little advice. I currently have a property which was converted into a buy to let for the last 3 years or so after moving away from the area. I am now renting with my partner, but plan to sell the property to release the equity to hopefully purchase multiple properties on a buy-let basis. So my question is, would my previous Landlord experience be taken into account when appl
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