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  1. 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
  2. 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
  3. 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 wi
  4. 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
  5. 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
  6. 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!
  7. 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
  8. 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
  9. 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 s
  10. 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
  11. 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 equi
  12. 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 equi
  13. 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
  14. 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
  15. 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
  16. 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 pl
  17. 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 thought
  18. 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 thought
  19. 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 thought
  20. 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 ca
  21. 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 ga
  22. 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 ga
  23. 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 Man
  24. Hi all, I currently own a property outright which i am considering either selling or remortgaging with the intent of renting out. I bought it back in 2012 and since then it has increased enough in value to be able to pull out all of the original cash we put in if we were to remortgage. Now ,if I am right, by remortgaging that means the ROI would be infinite...? but I'm not sure what that means for the net and gross values and how this would impact my decision on if this is a good property to keep or sell and buy another instead. How would I calculate these figures when remortgaging. Up t
  25. Beginning of last year I have converted our integral garage into an ensuite bedroom, which many of our neighbors done the same in our area, I have asked a couple of them, they said we do not require planning permission as it is permitted development and 80% of the garage is attached inside the property. But what I didn’t realise then is I would need building regulation approval or check, which I didn’t know nor did my builder mentioned at the time. So I do not have the building control permission and am not sure if I should do retrospective BR, as it seems there is no guarantee it
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