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  1. Greetings All, In the midst of planning my desired strategy I have come up with a curiosity - how do most property developers/landlords structure the financing for their own home? If you have enough capital, I suppose the optimal scenario is to buy a place in cash, but as most of us have limited capital, it is better to keep it 'working'.. I also don't want to be throwing money away on rent, so is the answer an interest only residential mortgage? Any tips, thoughts and opinions welcome. Thanks! Karl
  2. 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
  3. Hello Everyone, I'm a Development Manager (construction background) from North Wales and I happened across the podcast yesterday morning and have been hooked ever since, I've got so many episodes to catch up on! We are a bit unique as a developer and own and operate some of our large buildings in North wales, one being a wedding venue (large listed hall and grounds) one being a 40 room hotel and spa (currently managing the design process for this as we purchased it in April) and last year we purchased and renovated an abandoned listed public house and now operate it as a restaurant
  4. 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
  5. 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
  6. Hello everyone, Am I obliged to hand over reports and surveys to the new owner of a property? We got Prior Approval for change of use under the permitted development regulations, to convert a small, run-down commercial site into residential, and then sold it via auction recently. We assume the new owners will want to submit a full planning application to knock the current buildings down and develop flats from scratch. As part of the PD process we paid for various plans, surveys, reports etc. My question is: which, if any, of these plans, surveys etc are we obliged to
  7. Hello there I am having difficulty in deciding what the best plan is to flip and would be grateful to get people's opinions on it. My objective To flip residential properties to build a capital-base rapidly. Background I am able to devote a large % of my time to building this portfolio and have access to cheap finance (up to £750k) and plan to do this through a company. I am geographically agnostic, although having spent the last 10 years in London I know it pretty well, especially south-west London. I am new to the property developme
  8. I am looking for advice as I am sure there is a easy way around this. I have very recently split up with my partner and put our house up for sale. The house is for sale for £250k and last week I asked the bank for a settlement figure on our mortgage and we owe £59400. I want to stay in my house and basically buy out my x partner but to do this I would need about £140000 mortgage to pay the mortgage off and my X. I have been researching property for about six months and the split came out of the blue, so scuppered my plans, but I know this is an opportunity I can not miss to o
  9. Hello everyone, Has anyone got any tips, opinions or comments on the best way to market and sell our small site? We’ve had some rough valuations and been told we can expect offers of over £350k. Any comments on any of these points would be appreciated! • Perhaps most importantly, auction? Or invite closed offers in a set (maybe 1 month?) timeframe? Which is likely to get us the best price for this sort of site in the current market? • If auction – any suggestions for the best firm, or any other tips? What sort of fees should we expect? • If closed offers – advertise it and deal wit
  10. I've been investing in single lets and now looking at moving into commercial to residential. It would be great to be able to get some advice from someone who does this to understand whats required and if its a suitable for me. I have some experience of converting houses into various configurations so it does seem this is the next step.
  11. Hello everyone, I'm currently just starting on my property investment journey and am looking for some advice please. The story so far . . . I currently own my own home (mortgaged) . . . . the LTV is currently 68% with 96k o/s on my existing mortgage. I currently have around 30k equity in my home. Mortgage payments are currently around £450pcm, rental for my area is currently around £650 / £700pcm (there is currently hardly anything to rent in my area, rightmove currently comes up with 1 property) My partner does not currently live with me but is loo
  12. Hi all I'm just about to complete my first new development (in June) - five flats converted from a single house. What a learning curve this has been! I’m going to write-up the ‘story' as a new post soon. A tale of planning nightmares, mortgage hell and runaway builders but now I’m almost there. As they say, when you’re going through hell, don’t stop. Anyway, my current priority… I’m living on the development site and now need to move out. I have found a good size house that would allow me to live-in part of it PLUS separate out the top floor as a BTL. I can
  13. Afternoon all, I am new to this site and wanted to introduce myself. I am a self employed "whole of market" mortgage broker. Specialise in residential and BTL mortgages. I have nearly 10 years experience in the finance sector and nearly 4 years experience in the Mortgage Industry.
  14. Dear Property Hub members, My name is Enrico and i am new to this site so i would appreciate some support. I am keen in investing on buy to let business in London. Finally after about 20 years of living here i am in a financial position to go for it i don't yet own any properties here in the UK as yet but have one in Italy on my name. I own it with no mortgage Do you know if this could count for me to get a better deal over here in the UK or if best to sell it there and use the funds over here? Please let me know Many thanks
  15. Stamp duty will be abolished immediately for first-time buyers purchasing a home of up to £300,000, Chancellor Philip Hammond has announced In London, first-time buyers will be able to buy a house worth up to £500,000 and pay no stamp duty on the first £300,000, still means a stamp duty of £10,000 on the extra 200,000 for properties in London but for the average first-time buyer. This certainly helps reduce the costs and puts a little more money in your pocket.
  16. Good morning folks. I'm new here and I've come to ask quite a complex question I think. So here we go...... I am in the process of sorting a mortgage AIP. I have decent credit and a 12% deposit so far. However... I've found the "perfect" property. It is a lovely old house (victorian ish) in dreadful condition! Perfect little doer upper. Decent price. Vendor will come down a bit. Splendid!! Then I do a little digging. They have had offers on the property before, as it has been on since last year. But no applicants proceeded. Hmm..... It turns out that althou
  17. Hello all, I'm interested to know what particular challenges established, new and prospective property investors are facing and any solutions you may think would help. Thanks, Jo
  18. Good morning all, I'd like to hear from anyone who knows about title splitting concerning commercial properties that has residential on top. If an investor bought a freehold commercial unit with a flat then decided to sell each unit separately how you deal the title on the flat? I believe there are few options on how you deal with unit depending on whether you want to keep the freehold or not. In this scenario it would be if you want to sell all the units with the freeholds as well. The commercial unit would simply be sold as a freehold unit. Co
  19. Hi All, I am currently looking to buy my first residential property, however being conscious of my plans of the future I will want to buy further properties down the line. It is my preference to begin buying properties via a limited company, however what are the implications if I buy my residential company via limited company i.e. terms of LTV Mortgages available. Would I only be able to get 85% LTV mortgage (Buy to Let) rather than a 90% LTV mortgage if I were to buy the residential house in my name? Many thanks in advance!
  20. Hey everyone! Could anyone recommend me a good mortgage broker for residential mortgage in Milton Keynes or Ware? Thanks!
  21. Hi all, Been listening to Rob & Rob on the podcast for a while but haven't spent much time on here until now - so much helpful content! Anyway, I'm seeking some advice as I'm not a homeowner but desperately wish to invest in property. My salary is above £25K and I'll soon have enough deposit to invest in the North East, but the main obstacle I foresee is convincing a lender to help me out given that I'm currently renting. A little about my situation: living and working in London but originally from Yorkshire. I really don't fancy putting 5% down and getting a 200 year residential
  22. Could anyone provide any good recommendations for solicitors based in or close to the below locations who could take on conveyancing work for low value properties? Ealing Brent Cross Lambeth Wandsworth Hackney I run a growing company where we expect to refer approximately 70-80 sales per year onto solicitors. Our clients like the personal touch of being able to visit their solicitor so whilst I'm sure there are plenty of good firms in areas further away who could undertake duties by phone, e-mail etc, we do need firms who are based close to our clients. Sales are all on Compuls
  23. Could anyone provide any good recommendations for solicitors based in or close to the below locations who could take on conveyancing work for low value properties? Ealing Brent Cross Lambeth Wandsworth Hackney I run a growing company where we expect to refer approximately 70-80 sales per year onto solicitors. Our clients like the personal touch of being able to visit their solicitor so whilst I'm sure there are plenty of good firms in areas further away who could undertake duties by phone, e-mail etc, we do need firms who are based close to our clients. Sales are all
  24. I need to organise buildings insurance for a first time buyer residential mortgage. There's also a few indemnity issues to take into consideration too. I'd be grateful if someone could point me towards any impartial advice on this topic. Thanks Tom
  25. Hi I'm trying to purchase a property on a joint residential mortgage with my wife as our main place of residence to live, in London. However, due to an unfortunate mistake my wife's credit scoring has been ruined. We moved house in July 2014. Unfortunately, we forgot to update our address with my wife's credit card. Therefore, we didn't receive any statements and after six months of defaults (on £70 going up to £126 with the penalty charges) her account was defaulted and closed in Dec 2014. I'd like to know if there are any mortgage broker members within the forum, or anyone who's
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