Sadly, all too common. This is a subject I feel very strongly about because, in my opinion, a down valuation is just as negligent as an over valuation, but it appears I’m on my own on that one. It’s true that valuation is an opinion, and so rather than being a defined single figure, it’s…
How many different buy to let mortgages are there on the market today? Well, it’s anybody’s guess but the most recent figure I came across was around 2,000 different BTL mortgages, and they are being offered by up to (an estimated) 100 different lenders. All of those products, and all of those lenders, will have…
If you are buying properties to refurb, and I think you should be so you can add value, most buy to let lenders want the property to be lettable from day 1. So getting finance can be tricky, if not impossible, for the types of properties we want to buy. Here’s the solution. This product gets around that by…
How do you finance your properties? One at a time? What if there were an easier way? I’m excited to tell you that my mortgage broker has found a pre-agreed Forward Funding Facility that allows you between £500,000 and £5,000,000 so you can go and look for properties, knowing that you can buy them (as…
So often when an investor tells me that they are struggling to raise finance, it turns out they are using the wrong broker. Either the wrong type of broker – like they are trying to raise HMO finance through a buy to let specialist. Or just the WRONG broker. In other words, a broker who just isn’t…
What is the ‘Six Month Rule’, and why do we have it? Put simply, the ‘Six Month Rule’ says that if you buy a property you can’t finance or refinance within six months of purchase. Or, if you finance or refinance a property, you can’t then refinance within 6 months of financing or refinancing. So,…
Property Strategies (Part 5) This week we are going crank it up a notch and take a look at how to be more creative in our investing. For example, using “options”, delayed completion and other innovative ways of structuring deals. Now, whilst some people ONLY follow creative strategies such as options, I prefer…