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195K now and 200K 2018 to Invest


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Hi Everyone,

 

I currently earn in the higher income bracket and own 1 flat in London which is my current residence. 

 

I have 195K to invest at the moment and estimate that I would have a further 200K in 2018 once I renovate my current flat and remortgage as a buy to let (at 75% LTV).

 

My plan would be living overseas at the end of 2018 with sufficient income from BTL Investments make to be liveable but the intention would be to continue workings but doing something a little some enjoyable that the current work.

 

The London flat would remain under my ownership and be rented but all other investments (195K and 299K) would be made through a company (SPV).

 

Any advice on what type to property and areas would be best for me with this sort of investment captial?

 

Is there any issues with owning properties through a SPV and not live in country?

 

I was thinking of investing in manchester or birmingham but really i'm not bothered about any particular area other that looking for solid yields with minimal worries.

 

 

M

 

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Hi

Have you considered Serviced Accommodation properties rather than BTL?

I currently run 1 property in London, hoping to complete a purchase for a second later this month and have plans to buy a third before my wife `retires' this summer.

This will provide a more than salary replacement for us both with great prospects for capital gain over the next 10 years.

I would be interested in meeting up later this year to discuss more once the dust settles on our activities but could point you in a few useful directions if interested.

Best regards

Steve

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  • 2 weeks later...

Hi Steve,

 

Do you mind me asking what mortgage arrangement you look at for serviced accommodation/FHL, or do you own these properties outright? Most buy to let mortgage terms seem to prohibit serviced accommodation arrangements, so just wondered if you had found one that is open to this arrangement?

 

Kind Regards,

 

KJB

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Hi Steve,

 

You can use your funds as roll-over capital for an experienced developer to use as a deposit as they can then get low interest loans for the purchase and build.  Your funds are secured against the property - you can negotiate interest levels or equity. 

 

Good luck

 

Neil Petrie 

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On 16/01/2017 at 0:20 PM, kirsteenb said:

Hi Steve,

 

Do you mind me asking what mortgage arrangement you look at for serviced accommodation/FHL, or do you own these properties outright? Most buy to let mortgage terms seem to prohibit serviced accommodation arrangements, so just wondered if you had found one that is open to this arrangement?

 

Kind Regards,

 

KJB

Hi Kirsteen

I don't mind - I have a specific holiday let mortgage from the Principality Building Society. Fixed for 2 years at 2.1%. Only problem is that the max loan is £250k, which is limiting in London unless you have £200k yourself as a deposit.

Try also talking to the broker, London and Country. It's a free service and I recommend my contact Nick Smith.

 

Best regards

Steve

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  • 1 year later...

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