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Hi all, I’m curious to know if corporation tax is payable on funds released by mortgaging a property. For example, if my LTD company buys a house for £100k cash and then I mortgage it for £200k (example) at 75% LTV, that means that the company would receive £150k cash from the remortgage. Is this £150k essentially tax free or would corporation tax be payable? As a personal/individual landlord (not a LTD company) I know that CGT isn’t payable on equity release, but I’m not sure if this is the case for LTD companies. Any insights are greatly appreciated! Thanks!

Hi, Wondering if anyone here has had a similar experience or can help. We purchased a newly converted flat in Leeds a couple of years ago and at the time got a mortgage on it fine without any issues. As we have come to re-mortgage time, we just received an rejection from The Mortgage Works as the surveyor noted the following: "The property lies adjacent commercial premises(mainly low value storage/warehousing and light industrial/manufacturing) on all sides , in an area which does not have a "residential feel". Vehicular access is gained solely via a "commercial "area. The property is not acceptable in accordance with the Lenders guidance." The flat has been rented to young professionals with no down time in the two years since completion so no issues with demand. The flat is a converted office block so the area is fairly industrial/commercial but there is redevelopment going on (part of the reason we bought it) with a brand new hotel on the same road and a brand new block of converted houses/flats directly opposite. Our existing broker has spoken to a few lenders that have similar lenders guidance so said it's potentially risky as they will charge a valuation fee and we might not meet the criteria so would lose on the fees. Our existing lender doesn't have any product transfer options so we would have to apply for a new mortgage. We are currently investigating this option but just wondered if anyone has experience in this area and might know a broker that could help or a lender that could be suitable? Thanks!! Sam

Hi guys, I currently own one BTL property and a Personal home, however we are planning on buying a new personal home and keep the existing home as a BTL property. Before George Osborne's announcement this was relatively straight forward: re-mortgage as BTL and use equity for next personal home purchase, however with the new stamp duty rules for 2nd homes we would be hit with an additional 3% on the full purchase price unless we sell our main home. Being a 40% tax payer with no immediate need of additional income I am now considering selling our personal home to my Limited Company (SPV) to avoid the additional stamp duty tax on our new personal home, use the annual (tax free) dividend allowance of £5k per year and retain the remaining profits in the company. Although the initial costs are slightly higher we would be benefit of full CGT relief from selling our main home and future profits would be taxed at corporation rates of 20-18% rather than 40% using our personal tax bands. The numbers: - Current personal home £350k: Limited Co purchase with £262.5k loan, £18k stamp duty + £5k fees = £23k total expense - New personal home £675k. additional 3% stamp duty for 2nd home would cost £20.25k Has anyone got experience of doing this? Any help/advice would be much appreciated!! Regards, Alan

Hi all, Huge fan of the community. I'm approaching my first remortgage on my first property (residential). I'm looking to refinance after rennovating it over the past two years to get my first BTL. Exciting times. My original broker was not great, can someone recommend a broker to work with? A BTL specialist as I would like one broker to support me to build a portfolio. Sorry for the rookie question. There are just so many options online and everyone always says how important good brokers, just not where to find them! Many thanks

Hey all, I'm hoping someone can help me understand a bit more about equity release for the purpose getting a deposit for another home. I have a flat in London that I bought in 2010 on a 35 year mortgage. I have managed to get the remaining mortgage down to around 10 years and in that time the flat has also gone up in value. I want to try and keep the flat on if I can, so want to understand how much equity I could potentially release and under what circumstances that capital could be used by way of a deposit on a new place. For simplicity, say I bought the flat for £200,000 with a deposit of £30,000, requiring a mortgage of £170,000. I believe that results in an LTV of 82.4%. Now lets say that today the flat is worth £300,000 and I have paid off the mortgage so only £100,000 is remaining. That I believe gives me a new LTV of 33.3%. I've read that for a buy-to-let property, you generally need an LVT of below 70%. Using the example above of a £300,000 property with £100,000 left to repay, I could potentially take out £90,000, resulting in a new LTV of 70%. Is that correct? If so and assuming I was able to re-mortgage the flat on a buy-to-let agreement, how would another mortgage lender then factor that arrangement in when assessing my situation? Would they just see me as a guy with a £90,000 deposit, in which case I could borrow whatever I could borrow with them, or would the fact I had an existing property and mortgage affect any new affordability calculations? Hopefully that makes sense, I just want to know what my options are in terms of keeping the current flat or not. Thanks in advance! Matt

My long term girlfriend and I have been looking for a route onto the housing ladder. My girlfriend’s Dad owns a commercial premises on which he runs a profitable laundrette from. He also owns the freehold to the first floor which has separate access and is currently being run as a 3 bedroom HMO. Long story short, the property is well suited for a loft conversion / extension, next door have already done this a few years ago. My girlfriend’s Dad has agreed to “gift” us ownership of the proposed 2nd self contained flat should we fund the works. The works would comprise a small ground floor extension to the business coupled with a light refurbishment, first floor reconfiguration within the existing footprint and a second floor loft conversion. The first floor is currently very dated and a complete refurbishment with a better layout would increase the rental income massively. By day I am a QS and comfortable with the planning and construction aspects of the project. The construction works will cost in the region of £100k-£130k depending of scope and final specification. My girlfriend and I plan to raise the capital from a family member who will release some equity in one of their properties. We will then repay them at full cost plus additional interest. Up until now, it all seems fairly straightforward, however this is where it gets a little complicated. The approximate financials of the project: All in construction costs (including fees): £130,000 Cost of borrowing (from family member): +/- £7,000 This next part is on my to do list in the coming week, I have been meaning to take the plans to a few estate agents and see if they will do a desktop valuation of the proposed plans. At this stage, all I can do is compared to the current market. This property is based in Teddington, London, comparable 1 bedroom flats, just across the road are selling for £330,000 (these are about 15m2 smaller than our proposed flat). To show the feasibility of the projects financials I will assume a final appraised value of £250,000, which is way under what I anticipate the value to be (anyone who knows the areas, will know 1 bedroom flats rarely appear for less than £300,000). Total spend: £137,000 Final appraised value: £250,000+ We would then mortgage the flat after 6 months at the appraised value of £250,000 +/-, using a 60% LTV mortgage. Meaning we would maintain 40% equity (approx £100,000) and release 60% (approx £150,000). This £150,000 will be used to repay our total spend to the family member. Should the appraised value be more and we manage to release more equity, this will be used to begin our property portfolio under the ‘buy, refurbish, refinance’ model. We are currently facing two areas we need some advice on. Question 1: My girlfriend’s Dad owns the property in question as a second home. Once the works are complete, we need to figure out the best way to transfer ownership (the new lease hold) of the second floor flat from my girlfriend’s dad to us! I understand we could be facing capital gains tax and I know there can be issues when gifting a property. I am looking for any tax experts who may be able to recommend the best way to go about this handover? Question 2: As mentioned previously the existing property comprises of a commercial space on the ground floor and HMO on the first floor. The proposed second floor flat which we plan to own and mortgage will be above both the commercial space and HMO. I am aware that when it comes to getting a mortgage on a property above commercial space you are faced with far fewer mortgage options. This is why in the calculations above, I have opted for a 60%LTV mortgage as my gut feeling is this would open up more mortgage options, if we can get a lower LTV, we would probably go for it. My concern is that for whatever reason we may not be able to get a mortgage at all on the second floor flat. Can anyone see a reason why this would be the case? If so, who would be the expert to consult, I am assuming a mortgage broker?

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 would like to re-mortgage our property but thought it would be better to switch to a Buy To Let mortgage. When we was exploring our options with our mortgage advisor he hit a snag because all the lenders have no products if you are still within the 5 year period of the initial RTB purchase. When we briefly looked at a product switch with our existing lender the option to do so was not available and a message had said it was currently being let. We are in a bit of limbo now because it seems that the option to remortgage on a residential would not be possible because we do not live in the property and not going to move back in. To move to a BTL mortgage is not an option because lenders do not lend to customer within the first 5 years of their purchase. If we knew this was the case we would've opted for a 5 year mortgage. Has anyone had any experience with this scenario or is there any mortgage advisor who know a way around this issue. Your advice would be greatly appreciated.

Hi all, My sister current has a property with a decent amount of equity in it and is considering passing some of that equity over to me to start my Property portfolio. Is the equity taken out locked for the original mortgage/home owner or can it be passed as cash to someone else, i.e myself? If its the former, I assume the only way for me to access that equity and start my Property portfolio would be to apply for a joint mortgage with my sister. Any help would be much appreciated!

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 exceptions to common mortgage restrictions. - Is it better idea to split a mortgage 3 ways or have one of us put the mortgage in his name? - Any other advice around this strategy? Thanks S

Hi All, I'm looking for some advice if anyone can help me I currently own a BTL in Nottingham with 61% LTV. The deal I currently have is a 2.58% repayment mortgage until the 31-12-2023. To exit the current agreement I believe it’s between a £3000-£4000 exit fee given that I originally got the deal on a 5-year fixed. My goal however is to change to an interest only mortgage and I’m looking for some advice on whether this is first and foremost sensible and whether it makes sense financially to do so given what’s available in the market? Because of the corona virus, is there anyway I could have some bargaining power with my current lender and reduce the exit fee if I remortgage with them?If anyone knows any lenders or advisors or has personal experience that could help with this, I'd really appreciate your help. Stay safe everyone. Fabs

My partner had a £80k property bought out right for him in his name. We are both earning decent enough money in order to have a mortgage of around £250k however, have very little savings for a deposit. We have £0 dept. I understand this is a fortunate position to be in but would like to make more of the position we’re in - I just do not understand how best to do it. 1. Could I qualify for “first time buyer” if his name is on said potential new mortgage? 2. Without selling the £80k property but renting it out (1 bed flat) - Could the current property equity be used for deposit? If so how? We are too young for equity release I believe? 3. Is it a foolish time to be thinking about buying with the current epidemic or will house prices falling be favourable for buying and not selling? 4. I’ve had a “rent to buy” mortgage suggested to us but it seems rather complicated - is this worth it? What if the tenants don’t pay the rent? 4. What would you advise in my position?

Hi everybody, iv recently finished Renovating a property in hull that i bought 6 months ago, it was bought for 50k cash. the property was in a bad state. the improvements i made where to add gas to the property as it didnt have a gas connection and add a boiler and central heating system new kitchen new bathroom new flooring fix the damp problem new roof add double glazed windows to all windows painted and decorated there was a property on the same road a few doors down that went for 70k in august 2017 which had no gas as none of the properties on the road do and by peeping through the window was in a bit of a sorry state inside .but i have just received my remortgage offer at 75k. i was expecting a valuation of 85-90k. i was not asked what work was done to the property as my broker said all you need to say is that work had been done. is that a mistake on behalf of my broker as iv spoken to another investor that said you have to show all receipts of work carried out on the property to prompt the surveyor. is the any way to change this valuation. i would appreciate any advise thanks Dennis

Dear Hubbers, Firstly. we have to give huge thanks to Robs for the quality content, which they put out on the property hub podcast. Thank you thank you so much. The podcast really inspired me. However, I have got a lot of huddles to begin my property journey. I would really appreciate if any of you could help answer our questions regarding re-mortgage an overseas property. We have got a buy-to-let property in Australian. The property has been rent out and has been paying itself. Over the 10 years period, the property price has increased significantly. We wanted to release some equity to reinvest in the UK. However, I have been rejected by different lenders. Since the Royal Commission last year and with the weakening Australian dollar, exchange rates have heavily impacted our capacity to service our loan in Australia. Unfortunately, our current income streams wouldn’t be sufficient to meet our additional loans. As we are non-residents, lenders are very conservative and take only about 70 to 80% of our income and then apply the Australian tax rate. So, in reality we would need to be earning at least £150,000 to serve a £200k loan. Even if we could meet the criteria, it may only get us a loan with 6-7% interest rate. The major factor is our UK loan. While lenders use lowered income, they take 100% of the converted income, meaning it is always difficult to meet the lending requirement. We would really like to purchase the properties which have been advertised on property hub, but we don’t have enough cash to pay for the deposit. I can’t believe this is the end of our property journey. There has to be a solution. I know I have got an option to sale the property in Australia and get the money to the UK to invest, as I know the property investment is about circulating the money and using the leverage. However, the Australian property market has dropped in the last two years. I am not sure if I should wait until the property market recovers, which could take another 5-7 years. If we were to sell the property and reinvest in the UK, I would need to pay for the capital gain tax in AUS. Also, because of the currency exchange, we could lose a lot of money in this one transaction. We have got no idea what the best options are. Our strategy is to build a portfolio of five properties and look for a long term growth. Shall we wait for the property market to recover in Australia and sell the property? Or shall we sale it now and get the cash to reinvest in Liverpool? We are really stuck. I would really appreciate if any of you could provide any help/advise. Many thanks, Lisa

Dear Hubbers, Firstly. we have to give huge thanks to Robs for the quality content, which they put out on the property hub podcast. Thank you thank you so much. The podcast really inspired me. However, I have got a lot of huddles to begin my property journey. I would really appreciate if any of you could help answer our questions regarding re-mortgage an overseas property. We have got a buy-to-let property in Australian. The property has been rent out and has been paying itself. Over the 10 years period, the property price has increased significantly. We wanted to release some equity to reinvest in the UK. However, I have been rejected by different lenders. Since the Royal Commission last year and with the weakening Australian dollar, exchange rates have heavily impacted our capacity to service our loan in Australia. Unfortunately, our current income streams wouldn’t be sufficient to meet our additional loans. As we are non-residents, lenders are very conservative and take only about 70 to 80% of our income and then apply the Australian tax rate. So, in reality we would need to be earning at least £150,000 to serve a £200k loan. Even if we could meet the criteria, it may only get us a loan with 6-7% interest rate. The major factor is our UK loan. While lenders use lowered income, they take 100% of the converted income, meaning it is always difficult to meet the lending requirement. We would really like to purchase the properties which have been advertised on property hub, but we don’t have enough cash to pay for the deposit. I can’t believe this is the end of our property journey. There has to be a solution. I know I have got an option to sale the property in Australia and get the money to the UK to invest, as I know the property investment is about circulating the money and using the leverage. However, the Australian property market has dropped in the last two years. I am not sure if I should wait until the property market recovers, which could take another 5-7 years. If we were to sell the property and reinvest in the UK, I would need to pay for the capital gain tax in AUS. Also, because of the currency exchange, we could lose a lot of money in this one transaction. We have got no idea what the best options are. Our strategy is to build a portfolio of five properties and look for a long term growth. Shall we wait for the property market to recover in Australia and sell the property? Or shall we sale it now and get the cash to reinvest in Liverpool? We are really stuck. I would really appreciate if any of you could provide any help/advise. Many thanks, Lisa

Hi All, In the middle of remortgaging my BTL and the broker came back to me staying he could get me 33K Additional borrowing with the Life time variable rate or 40K+ with a 5 Year fixed. (FYI 40K additional would still leave me around 30% LTV). Why would banks be willing to lend more on the 5 year fixed vs the Variable rate and what are the drawbacks from this vs each other. Thanks Eamon

I have bought my own home (3 bed semi) on with a 5 year fixed rate mortgage back in the beginning of 2018, now around 18 months into the 5 years. My plan for my first BLT property is to remortgage this house into a BLT mortgage, and extract the capital as part of the deposit on my new home. I am concerned that because I have committed to a 5 year fixed rate mortgage, I am not sure if I can remortgage or change to a BLT mortgage without paying excessive fees. Having just listened to TPP064 about mortgages, I now see the error of my ways in committing to a 5 year fixed and not weighing up the variable mortgage rates in my plan. I am looking to advice to people that have been in my position in the past or know what my options would be to achieve my goals?

Hi all, I have made a directors loan of £100k into my Ltd company which is registered as an SPV. Bought a property for £100k through the business at auction, (£11k p/a return - self managed). The property is a terraced house (1 freehold) converted into 2 flats (2 x AST's). It has a pet shop to one side and a fishing tackle on the other side. There is a takeaway 2 doors down. I have owned this for 6 months now and wanted to remortgage and raise capital. Personally I pass all of the questions I have been asked reference my own salary (over £25k p/a). I have been told lenders are not keen and this is down to the property, is this the case? There must be a lender who I can raise money from? Ideally, looking for 70% LTV from it. Looking for either a broker that can work with the above/ and or/ info on who I can approach to raise money on this house to progress with other plans. Would really appreciate any thoughts, advice, contacts etc. Thanks all.

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

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

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

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

Hi All, So i asked my bank for the cost i would incur for re-mortgaging my property. To give some context, i purchased the property 3 years ago off plan and got the keys on September 14th. Purchase Price £120k vs Current Market Value £170k. I probably wont re-mortgage within the 1 year prior of owning the property however i do plan to re-mortgage at some point. Is it a no brainier to go for option 2 as option 1 seem extortionate, especially the cost over the long term for the revised mortgage rate of 4.14%. Thanks "1. Remortgage: noted you are looking to remortgage to raise capital. Please be noted that you have to be the legal owner for more than 6 months before we could consider this and also the capital raise has to be for another purchase of property. You advised that the market value of the property should be around £170,000. You are currently on tracker rate product with rate of 3.54% (2.79% +base rate (currently 0.75%)), loan started from 14 Sept 2018, Interest Only repayment for loan amount £81,897. So for remortgage to raise capital, it would be like a fresh application. So the valuation fee based on market value of £170K would be £240, there is also arrangement fee of £1,895 + funds transfer fee of £35. There is also discharge fee of £95 since you have to redeem the current one and then release the new loan. Please be reminded that there will be Early Repayment Charge of 1% of your original loan amount if you remortgage complete before 14 Sept 2019 since it is still within the 12 months tie in period. There would also be broker fee if you would like the promotion rate with broker (as our direct rate would be 4.14% (3.39% + base rate)), also the conveyancing fee with your solicitor to deal with the case. 2. Redemption: If you would like to fully redeem your mortgage, then there will be £95 discharge fee from our side. Also there would be Early Repayment Charge of 1% of your original loan amount if you redeem within 1 year tie in period. "

Hi everybody,  iv recently finished Renovating a property in hull that i bought 6 months ago, it was bought for 50k cash. the property was in a bad state. the improvements i made where to  add gas to the property as it didnt have a gas connection and add a boiler and central heating system new kitchen new bathroom new flooring fix the damp problem new roof add double glazed windows to all windows painted and decorated there was a property on the same road a few doors down that went for 70k in august 2017 which had no gas as none of the properties on the road do and by peeping through the window was in a bit of a sorry state inside .but i have just received my remortgage offer at 75k. i was expecting a valuation of 85-90k. i was not asked what work was done to the property as my broker said all you need to say is that work had been done. is that a mistake on behalf of my broker as iv spoken to another investor that said you have to show all receipts of work carried out on the property to prompt the surveyor. is the any way to change this valuation. i would appreciate any advise  thanks Dennis

Hi everybody,  iv recently finished Renovating a property in hull that i bought 6 months ago, it was bought for 50k cash. the property was in a bad state. the improvements i made where to  add gas to the property as it didnt have a gas connection and add a boiler and central heating system new kitchen new bathroom new flooring fix the damp problem new roof add double glazed windows to all windows painted and decorated there was a property on the same road a few doors down that went for 70k in august 2017 which had no gas as none of the properties on the road do and by peeping through the window was in a bit of a sorry state inside .but i have just received my remortgage offer at 75k. i was expecting a valuation of 85-90k. i was not asked what work was done to the property as my broker said all you need to say is that work had been done. is that a mistake on behalf of my broker as iv spoken to another investor that said you have to show all receipts of work carried out on the property to prompt the surveyor. is the any way to change this valuation. i would appreciate any advise  thanks Dennis

Hi all, First of all- I would like to thank everyone who contributed to this forum. I've learnt so much just by reading through and I believe I will continue to spend countless of hours on here getting myself educated. This is my first ever post - so please excuse if my question seem silly. I've read a few books and listened to many podcasts about buying properties BMV, refurbish it, rent it out and re-mortgage after 6 months or so. My question is: How are investors funding these deals? For example if you have £100k cash, and a property up in Manchester is £65k with a refurb cost of £8k, do you buy it with cash completely and re-mortgage it after 6 months to get as much of your money back out? or do you just put down 25% as deposit, get a mortgage, fund the £8k refurb cost with cash and re-mortgage after 6 months? Of course, I understand there are pro and cons or being a cash buyer, but from an investor point of view, what is the best way to invest the cash you have in hand and what are the norms that other investors are doing to 'recycle' their cash? Many thanks!