LandlordZONE

14

Feb, 2016

Sunday

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  1. Replies
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    Going through a broker like us would cost you...

    Going through a broker like us would cost you more in fees but this can be offset by the time they can save you and sometimes (not always) they can achieve a slightly better deal than going directly....
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    607

    Only if the best advice is to refinance the lot...

    Only if the best advice is to refinance the lot in one go
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    607

    hech123, Most commercial lenders are more...

    hech123,

    Most commercial lenders are more picky than the B2L ones, often lend at no more than 70% LTV and prefer capital & interest repayments. They will also look at portfolios of lower value...
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    5
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    309

    As a borrowing medium they are brilliant as long...

    As a borrowing medium they are brilliant as long as you get the right one and we have on many occasions arranged funding for successful companies where their bank wouldn't help, they are not a lender...
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    309

    As far as I am aware there is no upper limit on...

    As far as I am aware there is no upper limit on peer to peer (or any other 'cash' investments) you can do what you wish with your money. Various platforms may have imposed their own limits but...
  6. esco - I suspect if you can get a high street...

    esco - I suspect if you can get a high street clearing bank to play ball they would want a charge on your house as well as the property you are buying to flip, and will ask so many questions that it...
  7. It is always easier with 2 even if the same...

    It is always easier with 2 even if the same lender could do both together as it allows you to easily sell one in the future without the cost involved in revaluing the residual security for your...
  8. Yes they can for commercial property, not for...

    Yes they can for commercial property, not for residential and you need to talk to someone authorised to advise on pensions as to the last point to find out what your options are.
  9. Replies
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    1,194

    They are not ALL fixed and would probably argue...

    They are not ALL fixed and would probably argue most aren't. The banks will give you a longer fix as they buy a specific tranche of funds for you at the point of drawdown for as long as you wish. ...
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    Bear in mind firstly that fixed rate facilities...

    Bear in mind firstly that fixed rate facilities are not quite as attractive as they are with the B2L providers, as you will be limiting your lender market to those who will lend to companies and the...
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    Is that what your accountant advises, and is...

    Is that what your accountant advises, and is he/she a property specialist?
  12. It wouldn't be mortgage fraud until you moved...

    It wouldn't be mortgage fraud until you moved into it yourself but as the recent financial climate has meant an awful lot of individuals can't get a proper residential mortgage there has been a fair...
  13. Mortgagees don't necessarily go for possession as...

    Mortgagees don't necessarily go for possession as it then crystallises the debt and they often have to make a provision in their books. It is often easier to take control by appointing a Law of...
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    Apart from LTV's topping out at around 75%,...

    Apart from LTV's topping out at around 75%, shorter interest only periods and marginally higher pricing there isn't a great deal in it.

    You will end up giving personal guarantees anyway but...
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    hech123 is right - there is no way you would be...

    hech123 is right - there is no way you would be able to borrow that sort of amount on what is essentially a commercial proposition (you have let it on a commercial lease after all) with a rental...
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    Seems like a result

    Seems like a result
  17. Replies
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    361

    If the property in in the SE some valuers are...

    If the property in in the SE some valuers are taking up to 3 weeks to get there as they are covering holidays and more demand than a few years back. A lot of lenders have also restricted their...
  18. Replies
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    402

    i agree with loanarranger - don't get caught out...

    i agree with loanarranger - don't get caught out using the wrong funding to pursue your ambitions, what you need is bridging as if you do get B2L funding you are likely to be clobbered with early...
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    412

    You are looking at two parts here, the...

    You are looking at two parts here, the development phase and the long term finance phase. The latter would involve what sort of B2L funding you could get on a series of flats in one location...
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    Simply put - No - firstly as an HMO your market...

    Simply put - No - firstly as an HMO your market is a little narrower and secondly you have what is essential a major refurb/development on your hands which is not the sort of work the standard B2L...
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    You are likely to struggle if the residential...

    You are likely to struggle if the residential rent is insufficient to service the overall loan as few lenders will rely on you 'speculating' that you can get the commercial part let. If you have an...
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    I was working closely with a lender providing...

    I was working closely with a lender providing commercial finance in the residential investment sector in the mid 90's before ARLA coined the phrase 'Buy to Let', we used to peak at 70% LTV on the...
  23. ARIC doesn't exist as a term now and have been...

    ARIC doesn't exist as a term now and have been replaced by MRICS - Member of the Royal Institution of Chartered Surveyors. FRICS - Fellow of the Royal Institution of Chartered Surveyors is someone...
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    Looking at all the 'professional' landlords (my...

    Looking at all the 'professional' landlords (my definition of being someone for whom property forms their principal source of income) we have worked with over the years their average gearing has been...
  25. Both transactions (the sale and the new purchase)...

    Both transactions (the sale and the new purchase) would probably have to happen contemporaneously too- is that likely to happen?
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