Lot’s of people often ask: Can you rent out a mortgaged property? The answer is often yes, but you should have the correct mortgage that fits your intentions with the property. Avoid occupancy fraud If you lie about your intentions for the property when getting a mortgage, you risk being charged with occupancy fraud. It […]
Self Employed Mortgage
What is a self employed mortgage? If you work for yourself then you will know that it’s much harder to get a mortgage if you are self employed. Why is it so hard to get one? And what are banks looking for? Why it is hard to get one? If you’re self-employed and searching for […]
How to buy a house without a Mortgage
So you want to know How to buy a house without a Mortgage? There are many ways including using cash, bridging loans and joint ventures. Cash buying with savings One way of buying a house with no mortgage is using savings/cash. Making a cash purchase with savings can save you money over time, especially on […]
What is a Bridging Loan and Where can you get one?
A bridging loan can be obtained through a specialised broker or directly from the lender; however, they are not commonly available and are rarely given by high-street banks. Even though a bridging loan is usually quicker to obtain than a mortgage, lenders will still conduct extensive checks on your credit history, mortgage obligations, and the […]
Getting a Second Mortgage
Getting a second mortgage or second charge can be good for people who are property investors and want to release more capital to purchase another property. However, a second charge is not a good option if you are already struggling with debt and/or mortgage repayments. Mortgage Modification Programmes Mortgage modification programs were put in place […]
Can you get a mortgage with Bad Credit?
Help! I hear you scream! I want to run a property business or get a mortgage but I’ve got bad credit! Well, you will be pleased to know that the answer to can you get a mortgage with bad credit is ‘yes!’ It may just be a little more complex or It is possible to […]
Cost of running a holiday let
There are many costs involved in running a holiday let including mortgage, business rates, cleaning, insurances and utilities. Here is s true reflection of the cost of running a holiday let and what you have to factor in. Mortgage A holiday let mortgage typically has a 5% interest rate, therefore if you have a £100,000 […]
Introducing HMO Mortgages
Welcome, investors! Today were are taking a look at HMO Mortgages. What is a HMO mortgage? And how easy is it to get one? What is an HMO? / Why do you need one? A House in Multiple Occupation (HMO) is a rental property with three or more unrelated tenants who may share facilities such […]
How Reliable is a Mortgage Agreement in Principle
You will need an AIP – Agreement in Principle – if you are buying a house with a Mortgage. Usually, most investors put 25-30% deposit down and get the rest on an interest only Mortgage. This is because it keeps the monthly payments down and allows you to retain the rest of your capital for […]